A 15% growth in revenue fueled a 10-fold increase in third quarter earnings, to $8 million from just $892,000 a year earlier, Atlanta-based S1 Corp. announced Nov. 7.
Revenues totaled $61.5 million, up from $53.7 million.
S1 last month agreed to be acquired by ACI Worldwide for cash and stock valued at about $560 million (
"Despite significant distractions during the quarter, we posted solid results and are reaffirming our full year 2011 financial guidance,” Johann Dreyer, S1 chief executive, said in the company’s earnings release. “Our employees have done an outstanding job of focusing on our customers during this time, and I am very proud of them. We believe the proposed combination with ACI will create a leader in the global enterprise payments industry, and we are working diligently to close the transaction with ACI as quickly as possible."
