Business Services Industry
PFSweb Announces Preliminary Second Quarter Sales For eCOST.com
Business Wire, July 9, 2007
eCOST.com continues steady improvement
PLANO, Texas -- PFSweb, Inc. (Nasdaq: PFSW), a global provider of integrated business process outsourcing (BPO) and web commerce solutions, today announced preliminary unaudited revenue for its wholly owned subsidiary, eCOST.com, for the quarter ended June 30, 2007.
eCOST.com expects to report revenue of approximately $26 million for the second quarter of 2007. On a sequential basis, revenue increased from $21.6 million for the first quarter of 2007 and $21.1 million for the fourth quarter of 2006.
"eCOST.com's second quarter sales have noticeably increased quarter-to-quarter, and we believe that the quarter-to-quarter comparison is a key measurement of our turn-around progress. Further, we believe this quarter's revenue growth will contribute to an improved bottom-line result for eCOST.com as compared to the prior two quarters," stated Mark Layton, Chairman and CEO of PFSweb. "The continued positive trends that eCOST.com has experienced so far this year offer initial verification that the changes we have implemented are working. These changes include improved customer service, enhanced web site functions and an expansion of the number of available products to more than 100,000 SKUs in a wider variety of categories."
About PFSweb, Inc.
PFSweb develops and deploys integrated business infrastructure solutions and fulfillment services for Fortune 1000, Global 2000 and brand name companies, including third party logistics, call center support and e-commerce services. The company serves a multitude of industries and company types, including such clients as LEGO, Riverbed, Fathead, CHiA'SSO, FLAVIA[R] Beverage Systems, Hewlett-Packard, International Business Machines, Hawker Beechcraft Corp. (formerly Raytheon Aircraft Company), Rene Furterer USA, Roots Canada Ltd., and Xerox.
Through its wholly owned eCOST.com subsidiary, PFSweb also serves as a leading multi-category online discount retailer of new, "close-out" and manufacturer recertified brand-name technology and consumer electronics for consumers and small to medium size business buyers. The eCOST.com brand markets approximately 100,000 different products from leading manufacturers such as Apple, Canon, Citizen, Denon, Hewlett-Packard, Nikon, Onkyo, Seiko, Sony, and Toshiba primarily over the Internet and through direct marketing.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the company's websites at http://www.pfsweb.com and http://www.ecost.com.
The matters discussed herein consist of forward-looking information under the Private Securities Litigation Reform Act of 1995 and is subject to and involves risks and uncertainties, which could cause actual results to differ materially from the forward-looking information. PFSweb's Annual Report on Form 10-K for the year ended December 31, 2006 identify certain factors that could cause actual results to differ materially from those projected in any forward looking statements made and investors are advised to review the Annual and Quarterly Reports and the Risk Factors described therein. PFSweb undertakes no obligation to update publicly any forward-looking statement for any reason, even if new information becomes available or other events occur in the future. There may be additional risks that we do not currently view as material or that are not presently known.
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