S1 reports revenue uptick
01 May 2009 | 2337 views | 0
Source: S1 Corporation
S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction financial and payment solutions, today announced financial results for the first quarter of 2009:
-- Total revenue for the first quarter of 2009 increased seven percent to $58.3 million from $54.7 million in the first quarter of 2008.
-- GAAP earnings were $8.9 million or $0.16 per share for the first quarter of 2009, a $0.07 increase over GAAP earnings of $5.2 million or $0.09 per share for the first quarter of 2008. These figures include stock based compensation (benefit) expense of ($2.5 million) or ($0.04) per share and $1.9 million or $0.03 per share in the first quarter of 2009 and 2008, respectively.
-- Adjusted EBITDA for the first quarter of 2009 was $10.6 million compared to $10.9 million in the first quarter of 2008.
-- Total revenue from international operations for the first quarter of 2009 increased seven percent to $15.9 million from $14.8 million in the first quarter of 2008.
-- Net cash provided by operating activities was $7.3 million for first quarter of 2009, a $2.5 million improvement over the first quarter of 2008. The Company ended the first quarter of 2009 with $66.4 million in cash and cash equivalents.
"We posted another strong quarter of year-over-year growth in revenue and achieved several operating milestones including entering into one of the largest agreements in the history of our Postilion payments business, licensing our new Postilion self-service banking application to multiple new credit union customers, and executing an agreement with Longtop Financial to market S1 Enterprise applications to financial institutions in China," said Johann Dreyer, Chief Executive Officer of S1. "We also continue to see the benefits of investing some of the growth we have achieved back into customer satisfaction initiatives as I have highlighted over the past several quarters. Although the economic environment rted over the past several quarters. Although the economic environment remains difficult, we continue to see our sales pipeline grow and reaffirm our full year guidance of $240 to $245 milli our full year guidance of $240 to $245 million in revenue and $47 to $50 million in Adjusted EBITDA."