Embattled S1 Corp. Dips Into TheRed

April 28, 2006, 1:00 a.m. EDT 1 Min Read

ATLANTA - (04/28/06) -- S1 Corp., under siege from dissidentshareholders, reported a loss of $444,000, or a penny a share, forits first quarter, compared to a profit of $720,000, or a penny ashare, for last year's first quarter. First quarter resultsincluded a 13% drop in revenues to $48.5 million. Net loss fromcontinuing operations for the first quarter was $1 million,including $1.6 million in stock-based compensation recorded underthe new Financial Accounting Statement 123, and $330,000 inrestructuring costs. An investment group called Ramius CapitalGroup, which holds an 8.6% stake in S1, has called on the board andmanagement of the company, which has struggled in recent years, tosell the company.

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