On February 13th S1 Corporation, a software provider for the financial services industry, reported 4th quarter revenue of $63.9 million which was down 18% from the 4th quarter of 2001 but up 9% sequentially. Net earnings were $1.2 million or 2 cents per share. Net income from continuing operations was $4.2 million or 6 cents a share. This was the first time SONE reported a quarterly profit. On April 7th SONE said they expect a 1st quarter loss of 11-13 cents per share on revenue of $58-60 million. 11 cents of the loss would be due to restructuring and other cost saving measures. S1 Corporation has a book value of $2.38 per share. They have cash and investments of $142.7 million or $1.95 per share and they carry no debt. The stock trades slightly over 1x sales.
 
     Looking at the chart you can see that in July 2002 the stock found support in the high $3 range. In October 2002 the stock briefly traded as low as $3.41. It is currently testing the high $3 range again. If you look at a 1 month chart, you can see that on Friday SONE broke out of its short-term downtrend. I posted the long term chart because that is the one that really counts. 

UPDATE 11/09/03 - RECOMMEND CLOSING POSITION. 
SOLD 11/10/03 - SOLD AT $9.18 FOR A 132% GAIN.