S1 Corp. (Nasdaq: SONE) fell 17 1/16 to 42 5/16 Wednesday after reporting a wider first-quarter loss.
While revenue rose 320 percent from a year earlier, the Atlanta, Georgia-based software maker said it lost $17.7 million, or 35 cents a share, before merger-related costs and other non-cash charges. Those figures compare with a loss of $2.08 million, or 8 cents a share, in the same quarter of 1999. Including gains from securities sales, S1 posted a net loss of $75.2 million, or $1.49 a share, in the latest quarter.
Gross margin slipped to 36 percent from 40 percent, which the company attributed to different business practices of newly acquired companies.
Chief Operating Officer Daniel Drechsel said the results “reflect a combination of new and old customer contracts melded with disparate business models.” The quarter was the first to include the results of newly acquired subsidiaries.
S1 makes software that helps financial services companies conduct business on the Internet.