PFSweb Q2 Loss Widens

(RTTNews) - PFSweb Inc. (PFSW) said that net loss for the second quarter widened to $2.4 million or $0.14 per share, from $955 thousand or $0.07 per share, in the prior year period.

Non-GAAP net loss was $1.4 million, or $0.08 per share, wider than $421, or $0.03 per share in the same quarter last year.

Total revenues for the latest second quarter were $54.04 million, down from $58.19 million in the comparable quarter last year.

Service fee revenue totaled $27.38 million, compared to $26.58 million in the year-ago period. This increase was primarily due to higher project activity from existing clients as well as new and expanded client relationships, partially offset by the impact of previously announced client transitions that occurred in 2013. Product revenue decreased to $18.1 million from $22.9 million in the same period last year, primarily due to ongoing restructuring activities by the company's largest client in this segment.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share and revenues of $52.14 million for the quarter. Analysts' estimates typically exclude special items.

PFSweb reiterated its 2014 service fee equivalent revenue guidance to range between $127 million to $133 million, increasing 7% to 12% as compared to 2013.