logo-loader

PFSweb stock rallies, swings to Q4 profit

Published: 14:34 22 Mar 2012 EDT

no_picture_pai

PFSweb (NASDAQ:PFSW) said Thursday it swung to a fourth-quarter profit amid revenue growth driven by its service fee unit.

The news sent PFSweb’s stock up 43 cents, or 13.15 percent, climbing to $3.70 in trade on the New York Stock Exchange.

The company provides digital marketing, e-commerce technologies, order and financial management and professional consulting services. Its clients span from Lego to Carter’s (NYSE:CRI), the Home Depot (NYSE:HD) and Lucky Brand Jeans.

For the fourth quarter that ended December 31, 2011, net income was $800,000, or six cents per share, compared with a net loss of $2.7 million, or 22 cents per share, in the prior year period.

Excluding one-time special items, adjusted earnings were $1.4 million, or 11 cents per share.

The company said total sales grew 15 percent to $87.5 million from $76.3 million a year earlier.

Analysts polled by Bloomberg were forecasting earnings of nine cents a share, on revenues of $74.2 million.

"We are pleased to report that our service fee business segment reported record revenue for the quarter," chief executive Mark Layton said in a statement.

"The strong increases for the fourth quarter were attributable to organic growth of existing clients as well as new client programs launched during the year, and included the benefit of strong holiday season ecommerce activity of our clients."

Revenue from the service fee unit jumped 50 percent to $32.5 million from $21.7 million in the same period in 2010.

Looking ahead, the company said it anticipates a 20 percent increase in service fee revenue growth this year, and is targeting between 10 and 15 new client programs to be either implemented or signed.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

4 hours, 51 minutes ago