NORCROSS, Ga. – S1 Corp. reported fourth quarter earnings soared by 86% as revenue improved and expenses fell.
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The company reported fourth quarter net income of $9.9 million, up from $5.3 million for the same period in 2008. Fourth quarter revenues rose about 2% to $59.5 million.
For the year, net income surged by 39% to $30.4 million, while revenues rose 5% to $238.9 million, compared to 2008.
S1 just completed a $28.9 million acquisition of PM Systems Corp., a provider of internet banking, bill pay and security products for U.S. credit unions.
