Dominated by a single, large-amplitude pulsation mode, the rapidly-pulsating
hot subdwarf B star CS 1246 is a prime candidate for a long-term O-C diagram
study. We collected nearly 400 hours of photometry with the PROMPT telescopes
over a time span of 14 months to begin looking for secular variations in the
pulse timings. Interestingly, the O-C diagram is dominated by a strong
sinusoidal pattern with a period of 14.1 days and an amplitude of 10.7
light-seconds. Underneath this sine wave is a secular trend implying a decrease
in the 371.7-s pulsational period of Pdot = -1.9 x 10^-11, which we attribute
to the evolution of the star through the H-R diagram. The sinusoidal variation
could be produced by the presence of a low-mass companion, with m sin i ~ 0.12
Msun, orbiting the subdwarf B star at a distance of 20 Rsun. An analysis of the
combined light curve reveals the presence of a low-amplitude first harmonic to
the main pulsation mode.Comment: Accepted for publication in MNRAS. 11 pages, 8 figures, 5 table