VASCO Increases 2017 Guidance - Quick Facts

(RTTNews) - VASCO Data Security International, Inc. (VDSI) announced the company now expects 2017 revenue to be in the range of $185 million to $190 million versus previous guidance of $180 million to $190 million. Operating income as a percentage of revenue, excluding amortization of purchased intangible assets is projected to be in the range of 6% to 9%, up from prior guidance of 1% to 5%.

Operating income as a percentage of revenue for the third quarter was 10% compared to 2% prior year. Revenue for the third quarter of 2017 increased 17% to $51.1 million from $43.6 million in the third quarter of 2016.

Scott Clements, VASCO CEO, said: "Record revenue in non-hardware offerings contributed to higher operating profit. We are executing on our strategy to sustain our hardware business while driving growth in software and services that secure the operations of our banking and enterprise customers."