Dave, who in the hell brought Sone into this thread in the first place?
Was it you? I don't think so!
I wished I'd been short this POS at 142!
Look at this chart.
siliconinvestor.com
>Atlanta, Aug. 1 (Bloomberg) -- S1 Corp. shares fell 29 percent after the Internet financial-services company said pricing pressures slowed revenue growth in the second quarter, prompting concern about the second half.
The shares of the Atlanta-based company fell 7 5/16 to 18 1/8 in Nasdaq Stock Market trading of 7.4 million shares, five times the three-month daily average. The stock had the fifth-biggest percentage loss on the Nasdaq.
S1 said domestic competitive pricing pressures slowed revenue growth in the Americas and at its VerticalOne subsidiary during the second quarter. Those conditions could continue in the second half, analysts said.
``The pricing pressure is the main issue,'' said Glenn Greene, an analyst at ABN Amro in Chicago, who last week cut his rating on S1 to ``outperform'' from ``buy.''
Revenue growth is expected ``to be limited by domestic pricing pressures and competitive pricing,'' Chief Financial officer Robert Stockwell said during a conference call. ``If this continues, it will last through the fourth quarter and margins may flatten out a little bit.''
S1 said today its second-quarter loss widened to $153 million, or $2.82 a share, from $2.2 million, or 8 cents, a year earlier. That's wider than the $2.74 average estimate of analysts polled by First Call/Thomson Financial. Revenue more than tripled to $59.1 million.
Greene said the results were ``in line'' with his estimate and those of most other analysts.
ING Barings analyst Andrew Collins today cut his rating on S1 shares to ``buy'' from ``strong buy.''
The shares have fallen 48 percent in the past year.
Aug/01/2000 19:10 ET |
