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S1 Corp. reports 4Q revenue increase, net decrease
March 22, 2009
NORCROSS, Ga. — S1 Corp., the parent company of Postilion, reported a 10 percent increase in fourth-quarter 2008 revenue from 2007. Revenue for the period ended Dec. 31, 2008, totaled $58.6 million, up from the $53.4 million reported a year earlier. For the year, revenue was up 11 percent, from $204.9 million in '07 to $228.4 million in '08.
Net income for the quarter was down 17 percent, from $6.4 million in '07 to $5.3 million in '08. Net income for the year was up 11 percent, from $19.5 million to $21.9 million.
"We posted strong results in 2008 and ended the year with one of the best quarters of deal signings in several years," said Johann Dreyer, S1 Corp.'s chief executive. "While we are not immune to the economic uncertainty and marketplace challenges, we believe our recurring revenue base, broad range of products and customers around the world, and strong balance sheet positions us to generate solid growth in revenue and profitability in this difficult economic environment. With the opportunities we see in our sales pipeline, we are currently targeting 2009 revenue of $240 to $245 million."
During the quarter, Postilion licensed its payments processing and card management software to its fifth top-10 retailer in the United Kingdom and to Arab National Bank, one of the top banks in the Middle East. Revenue from international operations during 4Q was up 3 percent from the previous year and for the year, international revenue increased 26 percent.
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