The company said it now expects revenue to be in the range of $62m and $62.5m compared with a forecast in May of $63m to $64.5m. Earnings per share are expected to be in line with guidance at $0.02 to $0.03 per share.
S1 has been a poor stock market performer and its share price has fallen from $210.08 in December to the current level of $4.91. Mahan said he expects to help the company execute more effectively.
The previous CEO Jaime Ellertson is leaving the company. Mahan held the post of CEO from 1995 to 2000.
