Wednesday, May 5, 2010

GSI Commerce Q1 2010 results

From Internet Retailer:

GSI Commerce first quarter sales rise nearly 39%

E-commerce technology provider GSI Commerce reported today sales of $272.6 million for its fiscal first quarter ended April 3, up 38.7% compared to $196.5 million for the same period a year earlier.

For the first quarter, GSI reported:

Income from operations of $17.4 million, up 87.1% from $9.3 million.
Net loss of $8.1 million, compared to a net loss of $12.1 million.

"The year got off to a strong start for GSI with better than expected top and bottom line results in the first quarter,” says Michael G. Rubin, chairman and CEO of GSI. “The key drivers to the upside were strong comparable-store e-commerce trends and continued momentum in marketing services.”

GSI offered the following guidance for fiscal year 2010:

- Revenue of $1.3 billion, which would represent 30% growth from 2009 revenue of $1.0 billion
- Income from operations of $15.6 million
- Net income of $135.0 million.

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