October 29, 2004, 12:00 AM

GSI Commerce gets a 44% boost in revenue and a 90% increase in sales

Third-quarter revenue at GSI Commerce Inc. increased 44% to $68.6 million from $47.5 million in Q3 last year, the company reports. Q3 net merchandise sales—the value of all sales across GSI’s platform—reached $100.2 million, up 90%.

Kurt Peters

Executive Editor

Third-quarter revenue at GSI Commerce Inc., which provides outsourced services for online retailers, increased 44% to $68.6 million from $47.5 million in Q3 last year, the company reports. The company reported a net loss of $3 million vs. $5.5 million a year ago.

Net merchandise sales reached $100.2 million for the third quarter, 90% increase over net merchandise sales of $52.8 million for the third quarter of 2003. Net merchandise sales represent the retail value of all sales transactions, including shipping charges and excluding returns, which flow through the GSI Commerce platform. GSI operates web sites for retailers and the sale number includes both merchandise that the company itself sells and merchandise that retailers that use its platform sell.

Q3 net revenues from product sales generated by the sporting goods category were $30.7 million, up 23% from $25 million for the third quarter of 2003. Net merchandise sales from the sporting goods category increased 45% in the third quarter of fiscal 2004 to $36.1 million, compared to $25 million a year ago.

Net revenues from product sales in other merchandise categories were $25.2 million for the third quarter of 2004, up 44% compared to $17.5 million a year ago. Net merchandise sales in other merchandise categories increased 131% in the third quarter to $64.1 million from $27.8 million in the third quarter of 2003.

Service fee revenues increased 156% to $12.7 million in the third quarter compared to $5 million in the third quarter of fiscal 2003.

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