PFSweb (PFSW) Announces Strong 2015 Holiday Season Results; Boosts FY15 Outlook

PFSweb, Inc. (Nasdaq: PFSW) reports it has successfully supported its clients through the 2015 holiday season with strong financial and operational performance.

"With the conclusion of our all-important holiday season, on an overall basis our clients were once again pleased with their online holiday volumes as well as our ongoing support," said Mike Willoughby, CEO of PFSweb. "In general, we believe many of our direct-to-consumer clients experienced year-over-year growth in their gross merchandise revenue during the holiday season in-line or above eCommerce analyst expectations. This strong growth and our high level of client satisfaction demonstrate the value we provide in delivering a superior online shopping experience, especially during this critical time of year."

As a result of the projected strong financial performance during the fourth quarter, PFSweb now expects 2015 service fee equivalent revenue to range between $183 million and $187 million, a 32% to 35% increase from 2014 and an increase from the previous 2015 guidance range of $180 million to $186 million. The company also now expects 2015 adjusted EBITDA to range between $19.3 million and $20.7 million, representing a 41% to 51% increase over 2014 and an increase from the previous 2015 guidance range of $18.5 million to $20.5 million. PFSweb will report its final 2015 results in March 2016.

For 2016, PFSweb expects continued strong growth in service fee equivalent revenue and adjusted EBITDA as the company realizes a full year of benefit from its recent acquisitions, as well as incremental revenue from new and expanded client relationships. The company is reaffirming its previously issued 2016 guidance, targeting 2016 service fee equivalent revenue to range between $220 million and $230 million, and adjusted EBITDA to range between $23 million and $25 million. The adjusted EBITDA target includes incremental sales and marketing expenditures as well as other infrastructure costs to support the company's future growth strategies.

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