PFSweb Q1 Loss Narrows - Quick Facts

(RTTNews) - PFSweb Inc. (PFSW) said that net loss for the first quarter of 2014 narrowed to $1.8 million or $0.11 per share, from $2.6 million or $0.20 per share, in the same period in 2013.

Net loss in the first quarter of 2014 included approximately $0.8 million in stock-based compensation expense compared to approximately $0.3 million in stock-based compensation expense and $2.3 million in restructuring and other charges in the same period in 2013.

Non-GAAP net loss was $1.0 million, or $0.06 per share, compared to non-GAAP net income of $21,000, or $0.00 per share in the prior year.

Total revenues in the first quarter of 2014 were $57.2 million compared to $63.1 million in the same period in 2013. Service fee revenue in the first quarter of 2014 totaled $27.6 million compared to $28.2 million in the same period in 2013. This decrease, which was primarily due to client transitions in 2013, was partially offset by revenues generated from higher than expected project activity as well as new and expanded client relationships. Product revenue decreased to $21.7 million compared to $25.3 million in the same period in 2013, primarily due to ongoing restructuring activities by the company's largest client in this segment.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share and revenues of $53.08 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. The company also reiterates its outlook for 2014 adjusted EBITDA target to range between $12 million and $14 million, representing an increase of 12% to 31% as compared to 2013.