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GSI posts preliminary operating results for fiscal year 2007
25
Jan '08
GSI Commerce Inc announced preliminary, un-audited results for its fiscal year ended Dec. 29, 2007. Because the results are preliminary and un-audited they are subject to change.

The company has scheduled a conference call with Wall Street analysts at 10 a.m. EST to discuss its preliminary results as well as its acquisition of e-Dialog. The company plans to report its full fiscal year 2007 and fiscal 2007 fourth quarter operating results on Feb. 13.

Preliminary, Un-Audited Fiscal Year 2007 Results:
• Net revenue is expected to be approximately $748 million to $750 million, an increase of approximately 23 percent from $609.6 million in fiscal 2006, and in line with the company's most recent guidance of $737 million to $757 million.

• Merchandise sales are expected to be approximately $1.682 billion to $1.687 billion, an increase of approximately 42 percent from $1.188 billion in fiscal 2006, and in line with the company's most recent guidance of $1.662 billion to $1.712 billion.

• Income from operations is expected to be approximately $5.3 million to $6.3 million, a decrease of approximately 34 percent to 45 percent from $9.6 million in fiscal 2006, and below the company's most recent guidance range of $8.0 million to $11.0 million. The results are below the company's most recent guidance primarily due to a higher than forecast amortization of intangibles related to the acquisition of Accretive Commerce resulting from the preliminary allocation of the purchase price between goodwill and intangibles.


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