GSI Commerce revenue climbs 16% to $137.3 in third quarter

E-commerce services provider GSI Commerce reported third quarter fiscal year 2007 revenue of $137.3 million, a 16% increase from $118.5 million in the same quarter last year. Merchandise sales via the GSI e-commerce platform were up 36% for the quarter, to $316 million from $233 million.

Loss from operations for the fiscal third quarter ended Sept. 29, 2007, was $11.5 million compared with a loss of $6.1 million in the prior year quarter. Net loss for Q3 2007 was $6.1 million, down slightly from a net loss in Q3 2006 of $6.2 million.

GSI extended contracts with professional sports league customers for NFLShop.com, Shop.MLB.com and ShopNHL.com, and added five online stores during the quarter. “As we approach the holiday shopping season, we see continued strength in e-commerce trends and I am confident in our ability to execute against our plans in the fourth quarter and beyond,” says Michael G. Rubin, GSI’s chairman, president and CEO.

For the full year, the company projects revenue of $737 million to $757 million, net income of $38.5 million to $40 million and total merchandise sales of $1.66 billion to $1.71 billion.