Vasco Data Security (VDSI) Tops Q3 EPS by 6c

October 27, 2016 4:40 PM EDT

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Vasco Data Security (NASDAQ: VDSI) reported Q3 EPS of $0.09, $0.06 better than the analyst estimate of $0.03. Revenue for the quarter came in at $43.6 million versus the consensus estimate of $42.33 million.

"Our third quarter results were primarily impacted by the extension of sales cycles as some of our large, European banking customers made adjustments in their ordering patterns in response to economic pressures and the need for digital transformation." said T. Kendall Hunt, VASCO Chairman & CEO. "We are pleased to make additional gains in our gross margins as we continue to derive more of our revenue from software. We remain optimistic about market demand for our solutions, including our hardware products, DIGIPASS for Apps mobile security suite, and eSignLive electronic signature solutions. We remain confident in our long term strategy and in the strength of our future growth opportunities as all types of businesses in every region expand their use of online and mobile channels to conduct business."

For earnings history and earnings-related data on Vasco Data Security (VDSI) click here.

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