PFSweb Reports Third Quarter EPS of $(0.08)

PFSweb, Inc. PFSW today announced its financial results for the third quarter and nine months ended September 30, 2010.

• Total revenue decreased to $80.0 million for the third quarter of 2010 compared to $85.6 million for third quarter of 2009;
• Total gross margin was 10.7% for the third quarter of 2010 compared to 11.2% for the same period last year;
• Adjusted EBITDA (as defined) was $0.9 million versus $1.2 million for the third quarter of 2009;
• Net loss was $1.9 million, or $0.16 per basic and diluted share, compared to net loss of $0.8 million or $0.09 per basic and diluted share, for the third quarter of 2009. Net loss for the third quarter of 2010 included a $0.6 million charge applicable to an executive's disabilities benefits;
• Non-GAAP net loss (as defined) was $1.0 million, or $0.08 per basic and diluted share, compared to non-GAAP net loss of $0.7 million or $0.07 per basic and diluted share, for the third quarter of 2009;
• Total cash, cash equivalents and restricted cash was $20.4 million as of September 30, 2010 compared to $16.9 million as of December 31, 2009.