This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Vasco Data Beats Estimates

Fourth-quarter profit at IT security specialist Vasco Data Security International (VDSI - Get Report) rose 70%, beating analysts' estimates.

Net income for the fourth quarter of 2007 was $5.1 million, or 13 cents a share, compared with $3 million, or 8 cents a share, a year earlier. Analysts polled by Thomson Financial were expecting $4.16 million or 8 cents a share.

Revenue for the quarter ended Dec. 31 grew 44% over the same time last year to to $25.2 million; analysts had expected $25.7 million.

Shares of Vasco were recently up 85 cents, or 5.6%, to $16.

Vasco has been one of the few IT security companies that has found investor favor recently. The stock has run up 31.5% in the last three months.

The company won 470 new customers in the fourth quarter, of which 95 were banks and 375 were enterprise security customers. In the year to date, new customers included 233 new banks and 1,320 enterprise security customers.

Vasdco shipped about 3.8 million Digipasses, its IT security authentication product, in the fourth quarter, an increase of 57% over the number of Digipasses shipped in the same periods of 2005.

"The figures speak for themselves. We are the absolute market leader in authentication," said T Kendall Hunt, chairman and CEO of Vasco. Vasco competes with RSA Security, a division of EMC (EMC - Get Report), and Entrust (ENTU).

Vasco said its current backlog for orders to be shipped in the first quarter is $23.6 million, an increase of $10.8 million or 84% from the backlog for first quarter 2006.

For 2007, Vasco said it expects revenue to grow 35% to 45%, suggesting revenue of $103.5 million to $111 million. Analysts were expecting revenue of $109.3 million.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EMC $26.89 0.41%
VDSI $20.39 -3.68%
AAPL $121.30 -0.87%
FB $94.01 -1.26%
GOOG $625.61 -1.10%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs