By midmorning, shares had added 10.1% to $10.34.
The IT security company reported net income of 9 cents a share over the three months to March, 5 cents higher than analysts surveyed by Thomson Reuters expected.
"Not only was the revenue reported for the first quarter of 2014 the best first quarter in our history, we also had the strongest intake of new orders of any quarter in our history," said CEO and chairman T. Kendall Hunt in a statement.
TheStreet Ratings team rates VASCO DATA SEC INTL INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate VASCO DATA SEC INTL INC (VDSI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself."