GSI Commerce Inc announced that for its fiscal third quarter ended September 30, 2006, the company reported net revenues of $118.5 million and a net loss of $6.2 million, or $0.14 per share, compared to net revenues of $84.9 million and a net loss of $4.5 million, or $0.10 per share, for 2005's fiscal third quarter.
Included in net loss and net loss per share for the fiscal third quarter of 2006 is a non-cash charge of approximately $0.7 million, to reduce the carrying value of the shares owned by the company in Odimo Incorporated from $0.9 million to approximately $0.1 million, which represents the market value of the shares as of September 30.
These shares represent a portion of the consideration received when the company sold certain assets of Ashford.com to Odimo in fiscal 2002.
In addition, the company incurred cash and non-cash charges totaling $0.7 million related to the retirement of its former president and Chief Operating Officer. These two items, which were not included in the company's financial guidance, impacted net loss for the quarter by $1.4 million or $0.03 per share.
Fiscal Fourth Quarter 2006 and Annual Financial Guidance The following forward-looking statements reflect GSI Commerce's expectations as of Oct. 25, 2006. Given the risks relating to our business discussed below and in our public reports, actual results may differ materially.
marketing@alchempro.com
