GSI Commerce Inc. saw net revenues increase 30.1% in the second quarter to $119.6 million from $91.9 million last year. Revenues from product sales totaled $94.5 million in the quarter, jumping up 27.5% from $74.2 million last year. Product sales of sporting goods increased 30.6% in the quarter to $54.7 million from $41.9 million last year.

Gross margins were 38.9% in the second quarter, an increase of140 basis points from 37.5% in the same period in 2005. However, the GM increase was not enough to turn the bottom line positive as the company’s net loss expanded 24% to $3.6 million, or 8 cents per share, from a net loss of $2.9 million, or 7 cents per share, for the same quarter last year.

For the third quarter, net revenues are expected to be in the range of $105 million to $110 million, or increase between 24% and 30%. Product sales are expected to be in the range of $75 million to $79 million, or increase between 10% and 15%. Net loss is expected to be in the range of $6.7 million to $7.7 million.

For the full year, net revenues are expected to be in the range of $567 million to $587 million, or an increase of between 29% and 33%. Product sales are expected to be the range of $440 million to $449 million, or an increase of between 24% and 26%. Net income is expected to be in the range of $5.0 million to $6.5 million, or an increase of between 85% and 141%.