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By
Reuters
Published
Feb 10, 2010
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GSI Commerce fourth quarter profit lags market, sees strong first quarter revenue

By
Reuters
Published
Feb 10, 2010

Feb 10 (Reuters) - Retail website operator GSI Commerce Inc (GSIC.O) posted a lower-than-expected quarterly profit, hurt by a rise in expenses, but forecast first-quarter revenue above Wall Street expectations.


The company, which has clients like British Airways (BAY.L), Nike Inc (NKE.N) and Adidas AG (ADSG.DE), forecast first-quarter revenue of $260 million.

Analysts on average were looking for revenue of $256.4 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter, GSI Commerce earned $23.6 million, or 38 cents a share, compared with $23.1 million, or 45 cents a share, a year ago.

Revenue rose 10 percent to $430.2 million.

Analysts were expecting earnings of 51 cents a share on revenue of $411.3 million.

Total costs and expenses rose 10 percent to $383.3 million.

Shares of the company closed at $23.91 Wednesday 10 February on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Unnikrishnan Nair)

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