October 27, 2010, 4:31 PM

GSI reports a 49% increase in revenue for Q3

The e-commerce service provider’s loss nearly doubles to $18.6 million.

Lead Photo

GSI Commerce Inc., which sells e-commerce and online marketing technology and services to more than 200 retailers, today reported that revenues increased 49.3% in the third quarter. The company’s net loss nearly doubled to $18.6 million.

For the third quarter ended Oct. 2, GSI reported:

• Net revenue increased to $284.1 million, up 49.3% from $190.3 million for the same period last year.

 

 

• Net revenue from product sales increased to $153.2 million, up 68.8% from $90.8 million last year.

• Net revenue from service fees increased to $130.9 million, up 31.6% from $99.5 million.

• Costs and expenses increased to $304.4 million, up 52% from $200.2 million last year.

• Net loss increased to $18.6 million, up 97.9% from $9.4 million last year.

“Important progress on strategic initiatives made during the quarter included the continued enhancements to our e-commerce technology and payments platform, the launching of several international e-commerce stores for key clients and the continued build out of management teams for marketing services and Rue La La,” says Michael Rubin, GSI’s chairman and CEO, referencing a private sale site that GSI owns. “In addition, after 12 months of development and start up effort, we soft launched ShopRunner in early October.” ShopRunner is a free shipping and marketplace program that is competing against Amazon.com Inc.

For the nine months ended Oct. 2, GSI reported:

• Net revenue increased to $821.0 million, up 43% from $574.0 million for the same period last year.

• Net revenue from product sales increased to $458.7 million, up 59.2% from $288.2 million last year.

• Net revenue from service fees increased to $362.3 million, up 26.8% from $285.8 million.

• Costs and expenses increased to $876.7 million, up 43.6% from $610.7 million last year.

• Net loss increased to $52.5 million, up 51.7% from $34.6 million last year.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Jason Miller / E-Commerce

Six steps to take to make your site ready for the holidays

Images, tags and mobile performance are among the key areas to focus on in the ...

FPO

Anna Buchalova / E-Commerce

Four e-commerce metrics that can help increase ROI

Many e-retailers focus on conversion rate, but here are four less-obvious ways to analyze your ...

Advertisement