Vasco Data Security Q1 Profit Rises, Lifts FY Revenue View - Quick Facts

(RTTNews) - Vasco Data Security International, Inc. (VDSI) Thursday reported first-quarter net income of $3.51 million or $0.09 per share, up from $2.79 million or $0.07 per share in the previous year.

Earnings from continuing operations in the prior-year quarter was $0.06 per share.

Revenues for the quarter grew 10% to $38.82 million from $35.37 million in the same quarter last year.

The results for the first quarter reflected a 6% increase in revenues from the Banking market and a 27% increase in revenues from the Enterprise and Application Security market.

Vasco also increased its guidance for revenue for full year 2014. The company now expects revenue from its traditional business, which excludes new service product offerings, to be in the range of $168 million to $172 million, an increase from the prior outlook of $160 million to $165 million.