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PC Mall 4Q profit falls in preliminary report

Wed, 02/24/2010 - 5:30pm
The Associated Press

Online computer and electronics retailer PC Mall Inc. said Wednesday that its fourth-quarter profit sank 92 percent as a higher cost of goods sold overshadowed a slight increase in revenue, according to preliminary results.

PC Mall shares fell 79 cents, or 14.9 percent, in after-hours trading, after finishing regular trading up 4 cents at $5.29.

The company said that it earned $83,000, or a penny per share, in the last three months of 2009, compared with $984,000, or 7 cents per share, in the year-ago quarter.

The company's revenue rose 1 percent to $337 million.

Its cost of goods sold rose 2 percent, though, to $296.5 million from $290.8 million last year.

PC Mall said its results are preliminary because it is still undergoing a goodwill impairment analysis, the outcome of which could cut into its results.

For the full year, the company earned $3.4 million, or 26 cents per share, on $1.14 billion in revenue. That compares with a profit of $9.6 million, or 69 cents per share, on $1.33 billion in revenue in 2008.

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