PFSweb, Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Operations (A) (In Thousands, Except Per Share Data)
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Three Months Ended |
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March 31, |
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2012 |
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2011 |
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| REVENUES: |
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| Product revenue, net |
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$ |
34,725 |
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$ |
45,283 |
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| Service fee revenue |
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28,378 |
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18,900 |
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| Pass-thru revenue |
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11,409 |
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8,206 |
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| Total revenues |
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74,512 |
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72,389 |
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| COSTS OF REVENUES: |
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| Cost of product revenue |
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31,856 |
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42,466 |
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| Cost of service fee revenue |
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21,259 |
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13,783 |
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| Cost of pass-thru revenue |
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11,409 |
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8,206 |
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| Total costs of revenues |
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64,524 |
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64,455 |
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| Gross profit |
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9,988 |
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7,934 |
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| SELLING, GENERAL AND ADMINISTRATIVE EXPENSES |
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10,900 |
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9,288 |
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| Loss from operations |
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(912 |
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(1,354 |
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| INTEREST EXPENSE, NET |
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264 |
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191 |
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| Income (loss) before income taxes |
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(1,176 |
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(1,545 |
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| INCOME TAX PROVISION |
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109 |
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135 |
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| INCOME (LOSS) FROM CONTINUING OPERATIONS |
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(1,285 |
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(1,680 |
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| LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX |
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— |
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(603 |
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| NET INCOME (LOSS) |
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$ |
(1,285 |
) |
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$ |
(2,283 |
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| NON-GAAP INCOME (LOSS) |
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$ |
77 |
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$ |
(1,370 |
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| NET INCOME (LOSS) PER SHARE: |
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| Basic |
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$ |
(0.10 |
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$ |
(0.19 |
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| Diluted |
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$ |
(0.10 |
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$ |
(0.19 |
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| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: |
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| Basic |
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12,765 |
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12,268 |
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| Diluted |
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12,765 |
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12,268 |
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| EBITDA |
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$ |
1,230 |
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$ |
141 |
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| ADJUSTED EBITDA |
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$ |
2,592 |
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$ |
451 |
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| (A) |
The financial data above should be read in conjunction with the audited consolidated financial statements of PFSweb, Inc. included in its Form 10-K for the year ended
December 31, 2011. |
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