The banking technology vendor S1 Corp. has reported a fourth-quarter profit, evidence, its chief said, that the company's restructuring is working.
"We've moved the company significantly during 2007," Johann Dreyer, the Norcross, Ga., company's chief executive, said during a conference call Tuesday. "We rebranded the company into three brands, and what we found is that we added, for the first time in the life of the company, we regularly added new customers in each one of those brands." Mr. Dreyer became CEO in November 2006.
S1's revenue in the quarter rose 6%, to $53.4 million from a year earlier. Its net income was $6.4 million, compared with a loss of $12.9 million a year earlier.
Earnings of 11 cents per share topped the 8-cent average of Wall Street estimates.
Revenue for the full year rose 7%, to $204.9 million, from the year before. Net income for the year rose 9%, to $19.5 million.
S1 said it expects 2008 revenue in a range of $216 million to $220 million and earnings of 37 cents to 40 cents a share.
