GSI Commerce Inc. (GSIC, Financial) filed Amended Annual Report for the period ended 2011-01-01.
Gsi Commerce Inc. has a market cap of $2.12 billion; its shares were traded at around $29.35 with and P/S ratio of 1.6. Gsi Commerce Inc. had an annual average earning growth of 38% over the past 5 years.
In evaluating the independence of Mr. Branman, the Board considered that he is a Managing Director of Hilco Consumer Capital, LLC, the Managing Partner of Hilco Consumer Capital, L.P. (HCC), and certain transactions between GSI and HCC had previously been entered into pursuant to which HCC and GSI acted jointly as agent for Linens Holding Co. (Linens) to liquidate, on the LNT.com Web store, certain inventory owned by Linens located at one of GSI fulfillment centers. The Company recognized net revenues of approximately $784,000 during fiscal 2009 and approximately $6,617,000 during fiscal 2008 on sales of merchandise pursuant to these transactions. No revenue was recognized in fiscal 2010. In evaluating the independence of Mr. Fisher, the Board considered that he was affiliated with SOFTBANK Capital Partners LP, SOFTBANK Capital LP and SOFTBANK Capital Advisors Fund LP, former principal stockholders of GSI. In evaluating the independence of Mr. Hunter, the Board considered that he was an employee of QVC, a subsidiary of Liberty Media Corporation, a former principal stockholder of GSI, and the transactions between GSI and QVC described under Certain Relationships and Related Transactions. In evaluating the independence of Messrs. Donahue and Smith the Board considered that these directors each serve on the Board of Directors of Air Products and Chemicals, Inc. In each case, the Board concluded that, in their view, such relationships would not interfere with the exercise of such persons independent judgment in carrying out their responsibilities as a director.
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Gsi Commerce Inc. has a market cap of $2.12 billion; its shares were traded at around $29.35 with and P/S ratio of 1.6. Gsi Commerce Inc. had an annual average earning growth of 38% over the past 5 years.
Highlight of Business Operations:
The aggregate market value of the registrants voting stock held by non-affiliates of the registrant as of the close of business on July 2, 2010, was approximately $1,724,494,759 based on a per share price of $27.67, the closing price of the registrants common stock on the trading day prior to the end of the registrants second fiscal quarter, as reported on the NASDAQ Global Select Market. (1)In evaluating the independence of Mr. Branman, the Board considered that he is a Managing Director of Hilco Consumer Capital, LLC, the Managing Partner of Hilco Consumer Capital, L.P. (HCC), and certain transactions between GSI and HCC had previously been entered into pursuant to which HCC and GSI acted jointly as agent for Linens Holding Co. (Linens) to liquidate, on the LNT.com Web store, certain inventory owned by Linens located at one of GSI fulfillment centers. The Company recognized net revenues of approximately $784,000 during fiscal 2009 and approximately $6,617,000 during fiscal 2008 on sales of merchandise pursuant to these transactions. No revenue was recognized in fiscal 2010. In evaluating the independence of Mr. Fisher, the Board considered that he was affiliated with SOFTBANK Capital Partners LP, SOFTBANK Capital LP and SOFTBANK Capital Advisors Fund LP, former principal stockholders of GSI. In evaluating the independence of Mr. Hunter, the Board considered that he was an employee of QVC, a subsidiary of Liberty Media Corporation, a former principal stockholder of GSI, and the transactions between GSI and QVC described under Certain Relationships and Related Transactions. In evaluating the independence of Messrs. Donahue and Smith the Board considered that these directors each serve on the Board of Directors of Air Products and Chemicals, Inc. In each case, the Board concluded that, in their view, such relationships would not interfere with the exercise of such persons independent judgment in carrying out their responsibilities as a director.
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