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March 9, 2009

S1 revenue up 10% in Q4

Posts a net income of $5.33m, compared to $6.43m for the fourth quarter of 2007

By CBR Staff Writer

S1 Corporation, a provider of front office software applications for financial institutions, has reported a net income of $5.33m, or $0.1 per diluted share, for the fourth quarter ended December 31, 2008, compared to $6.43m, or $0.11 per diluted share, for the same quarter of 2007.

For the fourth quarter of 2008, total revenue was $58.62m, an increase of 10%, compared to $53.45m for the same quarter of 2007.

For the fiscal 2008, total revenue was $228.43m, an increase of 11%, compared to $204.92m in fiscal 2007. Net income was $21.85m, or $0.38 per diluted share, compared to a net income of $19.49m, or $0.32 per diluted share, for the same period of 2007.

Johann Dreyer, CEO of S1, said: We posted strong results in 2008 and ended the year with one of the best quarters of deal signings in several years. With the opportunities we see in our sales pipeline, we are currently targeting 2009 revenue of $240m to $245m and adjusted earnings before interest, taxes, depreciation and amortization of $47m to $50m.

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