S1 shares fell $1.81, or 14 percent, to $10.81 Friday after announcing it will trim 7 percent of its workforce as part of its effort to streamline its operations.
S1 (Nasdaq: SONE) will report its third-quarter results next week with analysts forecasting a loss of $2.39 a share.
"Through multiple acquisitions, S1 has increased its employee base dramatically in the past year," said CEO James Mahan III in a prepared release. "Today's actions reflect further steps in the integration of these acquisitions into a more streamlined and efficient operation."
Company officials said it will provide details about a restructuring charge after it reports its third-quarter results.
Last quarter, S1 reported a loss of $2.1 million, or $2.82 a share, on sales of $59.1 million.
Its shares moved up to a 52-week high of $142.25 in February before falling to a low of $7.63 in October.
Fifteen of the 19 analysts following the stock maintain either a "buy" or "strong buy" recommendation.
Be respectful, keep it civil and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.