Business Summary
VASCO Data Security International, Inc., together with its subsidiaries, designs, develops, markets, and supports hardware and software security systems that manage and secure access to information assets worldwide. The company offers VACMAN Controller, a host system software authentication platform that combines technologies in one platform; IDENTIKEY Authentication Server that adds server functionality to the VACMAN core authentication platform; DIGIPASS as a Service, a cloud-based authentication service primarily for enterprise customers; and MYDIGIPASS solutions for end user authentication in the cloud. It also provides IDENTIKEY Appliance, an authentication solution that offers two-factor authentication for remote access to a corporate network or to Web-based in-house business applications; IDENTIKEY Virtual Appliance, a virtualized authentication appliance that secures remote access to corporate networks and Web-based applications; and IDENTIKEY Federation Server, a server appliance that provides an identity and access management platform. In addition, the company offers DIGIPASS Hardware authenticators to support authentication and digital signatures for applications running on desktop PCs, laptops, tablets, and smart phones; DIGIPASS Software authenticators, which provides customers with security for access to their networks and applications without having to carry a standalone hardware device; and DIGIPASS for Apps, a software development kit that allows developers to integrate application security, such as two-factor authentication and electronic signing into mobile applications. Further, its products provide calculate dynamic passwords that authenticate users logging onto networks or other applications. The company sells its security solutions through its direct sales force, distributors, resellers, and systems integrators. VASCO Data Security International, Inc. was founded in 1991 and is headquartered in Oakbrook Terrace, Illinois.
Valuation Measures
Market Cap |
806.13M |
Enterprise Value |
860.83M |
Trailing P/E |
18.50 |
Price/Sales (ttm) |
3.67 |
Price/Book (mrq) |
3.87 |
Enterprise Value/Revenue (ttm) |
3.78 |
Enterprise Value/EBITDA (ttm) |
17.10 |
Share Statistics
Avg Vol (3 month) |
1,696,460 |
Avg Vol (10 day) |
2,413,350 |
Shares Outstanding |
39.54M |
Float |
29.11M |
% Held by Insiders1 |
25.77% |
% Held by Institutions1 |
48.00% |
Shares Short (as of Nov 14, 2014) |
14.98M |
Return on Assets (ttm) |
13.23% |
Return on Equity (ttm) |
21.66% |
Fiscal Year Ends |
Dec-15 |
Most Recent Quarter (mrq) |
Mar-15 |
Estimates
Estimates |
Current Year |
Next Year |
|
Dec-15 |
Dec-15 |
Earnings Est |
1.07 |
1.25 |
Revenue Est |
238.50M |
235.57M |
Key Executives
0 |
Mr. T. Kendall Hunt , 71 |
1 |
Founder, Chairman and Chief Exec. Officer |
2 |
Mr. Jan Valcke , 60 |
3 |
Pres and Chief Operating Officer |
4 |
Mr. Clifford K. Bown , 64 |
5 |
Chief Financial Officer, Exec. VP and Sec. |
6 |
Ms. Alexandra Spirig , |
7 |
Director of Contracts and Compliance |
8 |
Mr. Jochem Binst , |
9 |
Director of Corp. Communications |
Income statement (Annual)
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
Total Revenue |
154,029 |
155,047 |
201,537 |
Cost of Revenue |
54,464 |
55,176 |
73,771 |
Gross Profit |
99,565 |
99,871 |
127,766 |
Operating Expenses |
18,794 |
21,315 |
19,497 |
Research Development |
57,839 |
61,519 |
65,649 |
Selling General and Administrative |
- |
- |
- |
Non Recurring |
1,905 |
3,325 |
4,532 |
Others |
0 |
0 |
0 |
Total Operating Expenses |
- |
- |
- |
Operating Income or Loss |
21,027 |
13,712 |
38,088 |
Income from Continuing Operations |
|
|
|
Total Other Income/Expenses Net |
670 |
402 |
-168 |
Earnings Before Interest And Taxes |
21,697 |
14,114 |
37,920 |
Interest Expense |
- |
- |
- |
Income Before Tax |
21,697 |
14,114 |
37,920 |
Income Tax Expense |
5,468 |
3,147 |
5,309 |
Minority Interest |
- |
- |
- |
Net Income From Continuing Ops |
16,229 |
10,967 |
32,611 |
Non-recurring Events |
|
|
|
Discontinued Operations |
-630 |
180 |
873 |
Extraordinary Items |
- |
- |
- |
Effect Of Accounting Changes |
- |
- |
- |
Other Items |
- |
- |
- |
Net Income |
15,599 |
11,147 |
33,484 |
Preferred Stock And Other Adjustments |
- |
- |
- |
Net Income Applicable To Common Shares |
15,599 |
11,147 |
33,484 |
Income statement (Quarterly)
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
Total Revenue |
47,654 |
52,634 |
62,426 |
65,135 |
Cost of Revenue |
16,633 |
17,039 |
27,072 |
27,461 |
Gross Profit |
31,021 |
35,595 |
35,354 |
37,674 |
Operating Expenses |
|
|
|
|
Research Development |
5,202 |
4,441 |
4,713 |
4,549 |
Selling General and Administrative |
17,044 |
16,169 |
16,792 |
15,912 |
Non Recurring |
- |
- |
- |
- |
Others |
1,129 |
1,143 |
1,140 |
1,136 |
Total Operating Expenses |
- |
- |
- |
- |
Operating Income or Loss |
7,646 |
13,842 |
12,709 |
16,077 |
Income from Continuing Operations |
|
|
|
|
Total Other Income/Expenses Net |
259 |
-951 |
62 |
-197 |
Earnings Before Interest And Taxes |
7,905 |
12,891 |
12,771 |
15,880 |
Interest Expense |
- |
- |
- |
- |
Income Before Tax |
7,905 |
12,891 |
12,771 |
15,880 |
Income Tax Expense |
1,012 |
1,682 |
1,788 |
2,223 |
Minority Interest |
- |
- |
- |
- |
Net Income From Continuing Ops |
6,893 |
11,209 |
10,983 |
13,657 |
Non-recurring Events |
|
|
|
|
Discontinued Operations |
-6 |
-46 |
941 |
-23 |
Extraordinary Items |
- |
- |
- |
- |
Effect Of Accounting Changes |
- |
- |
- |
- |
Other Items |
- |
- |
- |
- |
Net Income |
6,887 |
11,163 |
11,924 |
13,634 |
Preferred Stock And Other Adjustments |
- |
- |
- |
- |
Net Income Applicable To Common Shares |
6,887 |
11,163 |
11,924 |
13,634 |
Peer Comparison
|
AAPL |
BBRY |
GOOG |
HPQ |
Industry |
Market Cap |
806.13M |
N/A |
N/A |
N/A |
57.97M |
Employees |
375 |
N/A |
N/A |
N/A |
132 |
Qtrly Rev Growth (yoy) |
68.0% |
N/A |
N/A |
N/A |
34.0% |
Revenue (ttm) |
227.85M |
N/A |
N/A |
N/A |
18.14M |
Gross Margin (ttm) |
61.0% |
N/A |
N/A |
N/A |
73.0% |
EBITDA (ttm) |
50.34M |
N/A |
N/A |
N/A |
-328.38K |
Operating Margin (ttm) |
22.0% |
N/A |
N/A |
N/A |
-14.0% |
Net Income (ttm) |
42.74M |
N/A |
N/A |
N/A |
N/A |
EPS (ttm) |
1.10 |
N/A |
N/A |
N/A |
N/A |
P/E (ttm) |
18.50 |
N/A |
N/A |
N/A |
22.54 |
PEG (5 yr expected) |
1.98 |
N/A |
N/A |
N/A |
2.68 |
P/S (ttm) |
3.67 |
N/A |
N/A |
N/A |
2.50 |
Upcoming Events
Date |
Event |
No Upcoming Events |
0 |
Recent Events
Date |
Event |
7/28/2015 |
VASCO Data Security International Inc Earnings Call scheduled for 430 pm ET today |
7/28/2015 |
Earnings announcement |
7/21/2015 |
VASCO DATA SECURITY INTERNATIONAL INC Files SEC form 8-K, Other Events |
6/18/2015 |
VASCO DATA SECURITY INTERNATIONAL INC Files SEC form 8-K, Submission of Matters to a Vote of Security Holders |
6/4/2015 |
Coverage initiated on VASCO Data Security by Standpoint Research |
5/5/2015 |
VASCO DATA SECURITY INTERNATIONAL INC Files SEC form 10-Q, Quarterly Report |
5/4/2015 |
VASCO DATA SECURITY INTERNATIONAL INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial St |
4/28/2015 |
VASCO Data Security International Inc Earnings Call scheduled for 830 am ET today |
Major Direct Holders
Major Direct Holders |
Shares |
Reported |
HUNT T KENDALL |
7,784,665 |
Mar-15 |
VALCKE JAN E C |
400,471 |
May-15 |
CULLINANE MICHAEL P |
165,124 |
Jan-15 |
BOWN CLIFFORD K |
108,264 |
May-15 |
HOLLEY JEAN K |
88,839 |
Jan-15 |
Top Institutional Holders
Top Institutional Holders |
Shares |
% Out |
Value* |
Reported |
Tiger Global Management, LLC |
1,900,000 |
4.78 |
40,926,001 |
Mar-15 |
Private Capital Management, Inc. |
1,849,006 |
4.65 |
39,827,591 |
Mar-15 |
BlackRock Fund Advisors |
1,780,025 |
4.48 |
38,341,740 |
Mar-15 |
Vanguard Group, Inc. (The) |
1,671,153 |
4.20 |
35,996,637 |
Mar-15 |
Century Capital Management, Inc. |
1,068,710 |
2.69 |
23,020,014 |
Mar-15 |
Gotham Asset Management, LP |
1,052,096 |
2.65 |
22,662,148 |
Mar-15 |
Valinor Management, LLC |
1,026,796 |
2.58 |
22,117,186 |
Mar-15 |
BlueMountain Capital Management, LLC |
900,000 |
2.26 |
19,386,000 |
Mar-15 |
BlackRock Institutional Trust Company, N.A. |
780,537 |
1.96 |
16,812,767 |
Mar-15 |
Stephens Investment Management Group |
692,811 |
1.74 |
20,915,964 |
Jun-15 |
Balance sheet (Annual)
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
Cash And Cash Equivalents |
106,469 |
98,607 |
72,441 |
Short Term Investments |
- |
- |
64,940 |
Net Receivables |
29,703 |
30,705 |
31,498 |
Inventory |
18,675 |
25,653 |
33,875 |
Other Current Assets |
4,588 |
6,680 |
3,472 |
Total Current Assets |
159,435 |
161,645 |
206,226 |
Long Term Investments |
- |
- |
- |
Property Plant and Equipment |
4,052 |
3,145 |
2,825 |
Goodwill |
13,176 |
23,532 |
22,208 |
Intangible Assets |
6,507 |
16,733 |
12,819 |
Accumulated Amortization |
- |
- |
- |
Other Assets |
3,336 |
6,822 |
7,260 |
Deferred Long Term Asset Charges |
- |
- |
- |
|
|
|
|
Total Assets |
186,506 |
211,877 |
251,338 |
|
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Accounts Payable |
18,043 |
21,373 |
26,450 |
Short/Current Long Term Debt |
- |
- |
- |
Other Current Liabilities |
11,905 |
15,733 |
18,747 |
Total Current Liabilities |
29,948 |
37,106 |
45,197 |
Long Term Debt |
- |
- |
- |
Other Liabilities |
97 |
57 |
55 |
Deferred Long Term Liability Charges |
141 |
436 |
213 |
Minority Interest |
- |
- |
- |
Negative Goodwill |
- |
- |
- |
|
|
|
|
Total Liabilities |
30,186 |
37,599 |
45,465 |
|
|
|
|
Stockholders' Equity |
|
|
|
Misc Stocks Options Warrants |
- |
- |
- |
Redeemable Preferred Stock |
- |
- |
- |
Preferred Stock |
- |
- |
- |
Common Stock |
39 |
40 |
40 |
Retained Earnings |
81,256 |
92,401 |
125,885 |
Treasury Stock |
- |
- |
- |
Capital Surplus |
74,965 |
79,871 |
82,450 |
Other Stockholder Equity |
60 |
1,966 |
-2,502 |
Total Stockholder Equity |
156,320 |
174,278 |
205,873 |
|
|
|
|
Net Tangible Assets |
136,637 |
134,013 |
170,846 |
Balance sheet (Quarterly)
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
Cash And Cash Equivalents |
93,342 |
80,985 |
72,441 |
74,207 |
Short Term Investments |
29,972 |
44,924 |
64,940 |
74,879 |
Net Receivables |
23,637 |
29,552 |
31,498 |
31,403 |
Inventory |
25,692 |
31,430 |
33,875 |
32,697 |
Other Current Assets |
6,124 |
5,593 |
3,472 |
4,179 |
Total Current Assets |
178,767 |
192,484 |
206,226 |
217,365 |
Long Term Investments |
- |
- |
- |
- |
Property Plant and Equipment |
3,192 |
2,977 |
2,825 |
2,686 |
Goodwill |
24,428 |
23,195 |
22,208 |
20,454 |
Intangible Assets |
15,293 |
13,997 |
12,819 |
11,692 |
Accumulated Amortization |
- |
- |
- |
- |
Other Assets |
8,512 |
7,661 |
7,260 |
6,815 |
Deferred Long Term Asset Charges |
- |
- |
- |
- |
|
|
|
|
|
Total Assets |
230,192 |
240,314 |
251,338 |
259,012 |
|
|
|
|
|
Liabilities |
|
|
|
|
Current Liabilities |
|
|
|
|
Accounts Payable |
26,516 |
26,173 |
26,450 |
24,079 |
Short/Current Long Term Debt |
- |
- |
- |
- |
Other Current Liabilities |
17,049 |
18,139 |
18,747 |
18,426 |
Total Current Liabilities |
43,565 |
44,312 |
45,197 |
42,505 |
Long Term Debt |
- |
- |
- |
- |
Other Liabilities |
- |
- |
55 |
49 |
Deferred Long Term Liability Charges |
530 |
838 |
213 |
126 |
Minority Interest |
- |
- |
- |
- |
Negative Goodwill |
- |
- |
- |
- |
|
|
|
|
|
Total Liabilities |
44,095 |
45,150 |
45,465 |
42,680 |
|
|
|
|
|
Stockholders' Equity |
|
|
|
|
Misc Stocks Options Warrants |
- |
- |
- |
- |
Redeemable Preferred Stock |
- |
- |
- |
- |
Preferred Stock |
- |
- |
- |
- |
Common Stock |
40 |
40 |
40 |
40 |
Retained Earnings |
102,797 |
113,961 |
125,885 |
139,519 |
Treasury Stock |
- |
- |
- |
- |
Capital Surplus |
81,131 |
81,892 |
82,450 |
82,819 |
Other Stockholder Equity |
2,129 |
-729 |
-2,502 |
-6,046 |
Total Stockholder Equity |
186,097 |
195,164 |
205,873 |
216,332 |
|
|
|
|
|
Net Tangible Assets |
146,376 |
157,972 |
170,846 |
184,186 |
Address
company |
Suite 210 |
address |
Oakbrook Terrace, IL 60181 |
city_state_zip |
United States - Map |
phone |
Fax: 630-932-8852 |
Business Summary
VASCO Data Security International, Inc., together with its subsidiaries, designs, develops, markets, and supports hardware and software security systems that manage and secure access to information assets worldwide. The company offers VACMAN Controller, a host system software authentication platform that combines technologies in one platform; IDENTIKEY Authentication Server that adds server functionality to the VACMAN core authentication platform; DIGIPASS as a Service, a cloud-based authentication service primarily for enterprise customers; and MYDIGIPASS solutions for end user authentication in the cloud. It also provides IDENTIKEY Appliance, an authentication solution that offers two-factor authentication for remote access to a corporate network or to Web-based in-house business applications; IDENTIKEY Virtual Appliance, a virtualized authentication appliance that secures remote access to corporate networks and Web-based applications; and IDENTIKEY Federation Server, a server appliance that provides an identity and access management platform. In addition, the company offers DIGIPASS Hardware authenticators to support authentication and digital signatures for applications running on desktop PCs, laptops, tablets, and smart phones; DIGIPASS Software authenticators, which provides customers with security for access to their networks and applications without having to carry a standalone hardware device; and DIGIPASS for Apps, a software development kit that allows developers to integrate application security, such as two-factor authentication and electronic signing into mobile applications. Further, its products provide calculate dynamic passwords that authenticate users logging onto networks or other applications. The company sells its security solutions through its direct sales force, distributors, resellers, and systems integrators. VASCO Data Security International, Inc. was founded in 1991 and is headquartered in Oakbrook Terrace, Illinois.