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Technology Stocks : S1: Doing Business in a Dot Com Depression, -V1
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To: Oeconomicus who wrote (1007)11/7/2003 1:52:02 PM
From: Art Baeckel  Read Replies (1) of 1013
 
Dow Jones Business News
S1 Corp Earnings: To Buy Back Up To $15M In Shrs
Friday October 31, 1:04 am ET

ATLANTA (Dow Jones)--S1 Corp. reported a loss in the third quarter, mainly because of a 6-cent restructuring charge but still beat out its previous estimates as well as consensus expectations.
The company also estimated fourth-quarter and full-year earnings above Wall Street's forecast.

For the third quarter ended Sept. 30, S1 posted a loss of $4.4 million, or 6 cents a share, compared with a loss of $5.2 million, or 7 cents, last year. Excluding the latest quarter's charge, S1 broke even.

For the fourth quarter, the company expects to earn 2 cents to 3 cents on revenue of $59.5 million to $60.5 million, compared with earnings from continuing operations of 6 cents on revenue of $63.9 million last year. Analysts predict a loss of a penny a share.

For 2003, S1 sees a loss of 55 cents to 65 cents on revenue of $250.5 million to $251.5 million, compared with 2002 loss from continuing operations of 10 cents on revenue of $248.9 million. Consensus estimates call for the company to lose 65 cents.

And for 2004, the company expects earnings at nil per share to 5 cents on revenue of $214 million to $220 million, significantly higher than analysts' predictions of a 15-cent loss.

S1 also announced that its board approved a program to repurchase up to $15 million of its common stock.

ART
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