S1 profits from Enterprise sales and services

S1 profits from Enterprise sales and services

US banking technology vendor S1 Corporation is reporting net income of $3.2 million in Q3 2004, compared to a loss of $4.4 million in the same quarter a year ago.

The vendor grew revenue to $62.5 million for the quarter, up from $57.46 million in the year-ago period. Professional services revenue rose to $24.38 million from $16.81 million in last year's quarter.

License sales were up 25% sequentially to $11.7 million, as S1 closed 16 deals for its Enterprise multi-channel banking software.

Jaime Ellertson, chief executive officer of S1 Corporation, comments: "This quarter marked several significant developments for our Enterprise strategy, including a new Enterprise relationship with SunTrust Bank and the transition to a subscription-based pricing model for our multi-channel Enterprise suite of products."

He says the firm is also working on the roll out of a new Enterprise module, co-developed with Wells Fargo Bank.

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