GSI Commerce has reported net revenues of $272.6m for the first quarter of 2010, an increase of 38.7% compared to $196.5m for the same period last year. Net revenues from product sales were $159.3m and service free revenue for the quarter was $113.3m.
The company posted an operating loss of $12.9m for the first quarter of 2010, compared to an operating loss of $14.5m in the same period a year ago.
For the first quarter ended April 3, 2010, the company posted net loss of $8.1m or $0.13 per share, compared to net loss of $12.1m or $0.25 per share for the same period last year.
Michael Rubin, chairman and CEO of GSI Commerce, said: “The year got off to a strong start for GSI with better than expected top and bottom line results in the first quarter. The key drivers to the upside were strong comparable store e-commerce trends and continued momentum in marketing services.
“In addition, Rue La La performed strongly in the quarter and we are pleased with the integration of its call centre and fulfillment operations into GSI’s infrastructure. In addition, we made significant strides in our international business, including the signing of one of our top 5 service fee clients to an extended global e-commerce agreement.”
The company anticipates net revenues to be $260m for the second quarter of fiscal 2010, and operating loss to be $20.9m. For the full year 2010, the company expects operating income of $15.6m and capital expenditure to be approximately $60m.
