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News Breaks | | | | January 14, 2013 | | 09:54 EDT |  | PFSW | Marxe and Greenhouse issue letter to PFSweb, want change in board, chairman
AWM believes PFSweb failed to fulfill its fiduciary duty to shareholders when considering a potential acquisition and determining cash compensation and other expenditures. In a letter to the company's board, the company's largest shareholders stated they now question the commitment of the management and board, citing a prospective thrid-party acquisition that was not considered by the board and "unreasonably high cash compensation paid to senior management" as reasoning for requesting board turnover and for "new blood and fresh perspectives". Further, the holders requested that an independent chairman be appointed as soon as possible. | |
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News For PFSW From The Last 14 Days Check below for free stories on PFSW the last two weeks. |
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| May 15, 2013 | | 09:00 EDT |  | PFSW | PFSweb rises 9.4%
 Subscribe for More Information | | | 08:15 EDT | | PFSW | PFSweb affirms guidance for CY13
The company said, As such, we are reaffirming our guidance for calendar year 2013, with Service Fee Equivalent Revenue expected to be in the range of $110M-$115M, and Adjusted EBITDA in the range of $8M-$10M, excluding the impact of restructuring and other related expenses which we expect to continue, but to a lesser extent, into the second quarter." | | | 08:14 EDT |  | PFSW | PFSweb reports Q1 adjusted EPS 0c, consensus (13c)
Reports Q1 revenue $63.1M, consensus $51.74M. The company said, “The financial results for the first quarter reflect certain impacts from the previously announced client transitions and restructuring related activities. We continue to expect that we will experience reduced revenue and profit in the second and third quarters of 2013, as compared to the first quarter of 2013, as these client programs continue to transition. We then expect an improvement in our fourth quarter as we realize increased benefits from new and expanded client relationships, including potential new clients through our new transcosmos relationship, and seasonal client volumes." | | | 08:12 EDT | | PFSW | PFSweb announces strategic deal, $14.7M investment from transcosmos
PFSweb announced that it has entered into a strategic relationship with transcosmos, an outsourcing provider of call center, business process and digital marketing services based in Tokyo, Japan with operations primarily in Japan, South Korea and China. As part of the agreement, TCI will acquire 3.21M shares of PFSweb common stock, equivalent to 19.99% of shares outstanding post transaction, at a price of $4.57 per share, representing a 7.5% premium to the company’s closing price on May 14. In addition, a TCI representative will join PFSweb’s Board of Directors. Pursuant to the terms of the transaction, TCI is permitted to acquire up to an additional 5% of the company's outstanding Common Stock, is subject to a two year lock-up and a customary standstill. The company and TCI also entered into a customary registration rights agreement. | | | 08:10 EDT | | PFSW | PFSweb announces Strategic Relationship with transcosmos and Receives $14.7 Mill
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