We started the year with a backlog that was lower the last years. At the end of Q2, we have closed that gap completely and are well underway to reach our 2012 guidance objectives. In the first half of 2012, it does not appear that the sovereign debt issue in the Eurozone has been significant impediment for VASCO’s business.Our banking business in Europe in still going strong, we have also received orders from banks in countries where the sovereign debt issue seems to be the most severe. A motivating factor for banks to many parts of the world is the fact that internet banking is a very low cost and profitable application.
VASCO's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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