Source: S1 Corporation
S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction financial and payment solutions, today announced financial results for the three and six months ended June 30, 2007.
- Revenue for the second quarter of 2007 was $52.6 million, compared to $46.7 million in the second quarter of 2006, a 13 percent increase. For the six months ended June 30, 2007, revenue increased 11 percent to $100.2 million from $90.2 million in 2006.
- GAAP earnings per share of $0.08 for the second quarter of 2007 was an $0.11 improvement over the $0.03 loss per share in the second quarter of 2006. These figures include stock based compensation expense of $3.1 million and $1.2 million in the second quarter of 2007 and 2006, respectively.
- EBITDA for the second quarter of 2007 was $7.7 million, compared to $1.3 million in the second quarter of 2006. For the six months ended June 30, 2007, EBITDA was $13.1 million compared to $2.7 million for the six months ended June 30, 2006.
- Software license revenue includes subscription revenue of $1.8 million and $0.5 million for the three months ended June 30, 2007 and 2006, respectively. For the six months ended June 30, 2007 and 2006, software license revenue includes subscription revenue of $3.6 million and $1.1 million, respectively.
- The Board of Directors approved a $20.0 million increase to the Company's stock repurchase program, bringing the total authorization to $50.0 million, under which S1 may repurchase shares of its common stock from time to time in open market and privately negotiated transactions as market and business conditions warrant. The Company repurchased 1.9 million shares of its common stock for a total cost of $15.0 million during the three months ended June 30, 2007.
- The Company increased GAAP earnings per share guidance for the full year 2007 to $0.26 - $0.29 and now estimates full year 2007 revenue to be in the range of $202 - $206 million. Full year GAAP earnings per share guidance includes stock based compensation expense of approximately $11 million.
"I am very pleased with our second quarter performance," said Johann Dreyer, Chief Executive Officer of S1. "We posted strong year-over-year growth in both revenue and net income as we continued to execute effectively against our business plan. Our change in guidance reflects our continued optimism about the prospects for the Company."
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