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Last $17.59 USD
Change Today +0.95 / 5.71%
Volume 810.9K
VDSI On Other Exchanges
Symbol
Exchange
NASDAQ CM
Frankfurt
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

vasco data security intl (VDSI) Key Developments

Jibun Bank Secures Online and Mobile Banking with VASCO One-Time Password and Transaction Signing Solution

VASCO Data Security International Inc. announced that Jibun Bank Corporation has implemented VASCO's DIGIPASS for Apps and VACMAN Controller to enhance security for online and mobile banking customers. DIGIPASS for Apps was the only solution that met all of the requirements of Jibun Bank. The bank opted to embed an additional authentication feature into their self-developed mobile banking application using the DIGIPASS for Apps software developer kit (SDK). Jibun bank believes this the first implementation of electronic transaction signing in a mobile banking application. Jibun Bank achieved stronger security and enhanced user convenience by implementing VASCO's one-time password (OTP) and transaction signing security features. The electronic transaction signature feature is used for bank account transfers and mobile phone number transfers in retail online banking services, and secures transactions for mobile phone users and internet users.

Sumitomo Mitsui Banking Corporation Selects VASCO DIGIPASS for Apps with Mobile OTP to Protect Online Retail Banking Customers

VASCO Data Security International Inc. announced that Sumitomo Mitsui Banking Corporation will provide their online retail banking customers with a highly-secure mobile banking solution for their smartphones developed with VASCO's DIGIPASS for Apps. This is the bank's third major implementation of an authentication solution. Sumitomo Mitsui Banking Corporation first introduced an OTP solution based on matrix authentication to their SMBC Direct retail internet banking services. In 2013, SMBC implemented VASCO DIGIPASS 275 hardware authenticators for additional security. SMBC has experienced a rapid increase in the number of transactions conducted via smartphones. SMBC customers are now able to select either a hardware or a phone-based software authenticator. DIGIPASS for Apps is a comprehensive library of security solutions for mobile applications that natively integrates application security, two-factor authentication and electronic signing, among other features into a bank's mobile applications.

Powers Taylor LLP Files Federal Class Action Lawsuit Against VASCO Data Security International, Inc

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announced that a federal class action lawsuit has been filed against VASCO Data Security International Inc. and several officers and directors for acts taken during the period of February 18, 2014 to July 21, 2015. In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants’ misrepresented and/or failed to disclose that its products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales. The complaint also alleges that VASCO lacked adequate internal controls.

The Rosen Law Firm Announces the Filing of a Securities Class Action Lawsuit Against VASCO Data Security International

The Rosen Law Firm announced that a class action lawsuit has been filed on behalf of purchasers of VASCO Data Security International Inc. securities during the period from February 18, 2013 through July 21, 2015. The lawsuit seeks to recover damages for VASCO investors under the federal securities laws. The lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) VASCO’s products were illegally sold to parties in Iran in violation of federal laws banning such transactions; (2) VASCO lacked sufficient internal controls; and (3) as a result of the foregoing, VASCO’s public statements were materially false and misleading at all relevant times. On July 21, 2015, after the market closed for trading, VASCO filed a Form 8-K with the SEC revealing “that certain of its products which were sold by a VASCO European subsidiary to a third party distributor may have been resold by the distributor to parties in Iran, potentially including parties” governed by U.S. economic sanctions. The suit claims investors were damaged when this adverse news entered the market.

VASCO Data Security International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Year 2015

VASCO Data Security International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, revenue from continuing operations increased 37% to $65.4 million from $47.7 million in the second quarter of 2014. Net income from continuing operations was $13.9 million, or $0.35 per diluted share, an increase of $7.0 million, or 101%, from $6.9 million, or $0.17 per diluted share, for the second quarter of 2014. Net income, which includes the impact of the company's discontinued operations, for the second quarter of 2015 was $13.9 million, or $0.35 per diluted share, an increase of $7.0 million, or 101%, from $6.9 million, or $0.17 per diluted share, for the second quarter of 2014. Operating income from continuing operations was $15.8 million an increase of $8.1 million, or 106%, from $7.6 million reported for the second quarter of 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations was $17.5 million, an increase of 84% from $9.5 million reported for the second quarter of 2014. Income from continuing operations before income taxes were $16,123,000 against $7,905,000 a year ago. Net income was $13,852,000 or $0.35 per diluted share against $6,886,000 or $0.17 per diluted share a year ago. Adjusted net income from continuing operations was $15,875,000 or $0.40 per diluted share from continuing operations against $8,427,000 or $0.21 per diluted share from continuing operations a year ago. For the six months, the company reported revenue from continuing operations increased 51% to $130.5 million from $86.5 million for the first six months of 2014. Net income from continuing operations was $27.5 million, or $0.69 per diluted share, an increase of $17.1 million, or 164%, from $10.4 million, or $0.26 per diluted share, for the comparable period in 2014. Net income for the first six months of 2015 was $27.5 million, or $0.69 per diluted share, an increase of $17.1 million, or 164%, from $10.4 million, or $0.26 per diluted share, for the comparable period in 2014. Operating income from continuing operations $31.8 million, an increase of $20.3 million, or 176%, from $11.5 million reported for the first six months of 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations was $34.8 million, an increase of 126% from $15.4 million reported for the first six months of 2014. Income from continuing operations before income taxes were $32,004,000 against $12,258,000 a year ago. Net income was $27,486,000 or $0.69 per diluted share against $10,397,000 or $0.26 per diluted share a year ago. Adjusted net income from continuing operations was $31,369,000 or $0.79 per diluted share from continuing operations against $13,362,000 or $0.34 per diluted share from continuing operations a year ago. The company reaffirmed its guidance for revenue and operating margins for the full-year 2015 as follows: Revenue is expected to be in the range of $230 million to $240 million, and Operating income as a percentage of revenue, excluding the amortization of purchased intangible assets, is projected to be in the range of 19% to 22%.

 

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