Plano, TX (PRWEB) April 12, 2005
PFSweb, Inc. (NASDAQ: PFSW), a global provider of business process outsourcing solutions for traditional and e-commerce strategies, has renewed its financing agreements with IBM through March 2006. In addition, the company renewed its Â7.5 million (Euros) factoring agreement with Fortis Commercial Finance NV through March 2006.
ÂThrough our wholly-owned subsidiary, Supplies Distributors, Inc., IBM finances PFSwebÂs purchase of IBM inventory and certain receivables applicable to our existing IBM master distributor agreements in North America and Europe,Â explained Tom Madden, Senior Partner and CFO of PFSweb. ÂOur long-standing relationship with IBM, our broad service offering to its customers and PFSwebÂs growing role in the evolution of outsourcing were all integral to the successful extension of these lines of credit,Â Madden emphasized.
ÂWe believe the financing services that Supplies Distributors offers complements PFSwebÂs suite of supply chain solutions and is a key differentiator in the overall PFSweb service offering,Â Madden added.
PFSwebÂs comprehensive outsourcing solutions provide proven, fast and secure business infrastructure to enable traditional and e-commerce strategies. PFSweb solutions include:
professional consulting services, e-marketplace logistics, order management, web-enabled customer contact centers, customer relationship management, international distribution and fulfillment services, reverse logistics, billing and collection services, kitting and assembly services and ERP information interfacing utilizing its Entente SuiteSM.
About PFSweb, Inc.
PFSweb develops and deploys integrated business infrastructure solutions and fulfillment services for Fortune 1000, Global 2000 and brand name companies, including third party logistics, call center support and e-commerce services. The company serves a multitude of industries and company types, including such clients as Adaptec (NASDAQ: ADPT), CHiAÂSSO, FLAVIAÂ® Beverage Systems, Hewlett-Packard (NYSE: HPQ), iGo/Mobility Electronics (NASDAQ: MOBE), International Business Machines (NYSE: IBM), Nokia (NYSE: NOK), Pfizer, Inc. (NYSE: PFE), Raytheon Aircraft Company, RenÃ© Furterer USA, Roots, Inc., Smithsonian Institution and Xerox (NYSE: XRX).
The matters discussed in this news release, particularly information regarding future revenue, earnings, business plans and goals, consist of forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to and involve risks and uncertainties, which could cause actual results to differ materially from the forward- looking information. Such statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however,managementÂs assumptions and the CompanyÂs future performance are both subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially. The Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking information contained herein is subject to the risk factors and uncertainties described in the CompanyÂs filings with the Securities and Exchange Commission, which risk factors and uncertainties are incorporated by this reference as though fully set forth herein.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit our website at http://www.pfsweb.com. PFSweb is a registered trademark. Entente Suite is a service mark of PFSweb. All rights reserved.
CONTACTS: Tom Madden, Senior Partner and Chief Financial Officer, or Thomas J. Madden, Senior Partner and Chief Financial Officer, (972) 881-2900
Preston F. Kirk, APR, Investor/Public Relations,
Kirk Public Relations, Austin TX, (830) 693-4447