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S1 buoyant in Q4

By Iain Scott, ITWeb group consulting editor
Johannesburg, 04 Mar 2005

S1 Corporation grew net income to $11.29 million in its fourth quarter, from $1.88 million for the same period a year earlier.

Total revenue for the three months to 31 December rose to $65.23 million, from $60.4 million for the year-earlier quarter.

Net income of $0.16 per share compares with $0.03 previously.

S1 is a Nasdaq-listed global provider of integrated front-office applications for financial institutions.

In November last year it bought Mosaic from JSE-listed Business Connexion, General Electric, management and a Dutch group.

Mosaic, which develops systems for electronic fund transfers, is now a wholly owned subsidiary of S1, with offices in SA, the UK, US and Australia.

For the year to December, S1 achieved revenue of $241.04 million, compared with $247.62 million the previous year.

Full-year net income came to $15.57 million, or $0.22 per share, compared with a previous loss of $38.17 million or $0.55 per share.

Related stories:
Mosaic Software sold for $37 million

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