VASCO Data Security International, Inc. (NASDAQ:VDSI) Files An 8-K Results of Operations and Financial Condition
ITEM 2.02 Results of Operations and Financial Condition
The information contained in this Form 8-K shall not be deemed
filed for purposes of Section18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or incorporated by reference
in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
On April27, 2017, VASCO Data Security International, Inc. (VASCO)
issued a press release providing a financial update for the first
quarter ended March31, 2017. The full text of the press release
is attached as Exhibit 99.1 to this Current Report on Form 8-K.
On April27, 2017, VASCO held a conference call with investors to
discuss VASCOs earnings and results of operations for the first
quarter ended March31, 2017. A transcript of the conference call
is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The press release and the comments by VASCO during the conference
call contained non-GAAP financial measures within the meaning of
the Securities and Exchange Commissions Regulation G.For purposes
of Regulation G, a non-GAAP financial measure is a numerical
measure of a registrants historical or future financial
performance, financial position or cash flows that excludes
amounts, or is subject to adjustments that have the effect of
excluding amounts, that are included in the most directly
comparable measure calculated and presented in accordance with
GAAP in the statement of income, balance sheet or statement of
cash flows (or equivalent statements) of the issuer; or includes
amounts, or is subject to adjustments that have the effect of
including amounts, that are excluded from the most directly
comparable measure so calculated and presented.
The press release contained a reference to EBITDA and provided a
reconciliation of EBITDA to net income. EBITDA, which is earnings
before interest, taxes, depreciation and amortization, is
computed by adding back net interest expense, income tax expense,
depreciation expense, and amortization expense to net income as
reported.
The press release contained a reference to Non-GAAP Net Income
and provided a reconciliation of Non-GAAP Net Income to net
income. Non-GAAP Net Income is computed by adding back long term
compensation expense, amortization of purchased intangible
assets, and the corresponding tax impact of the two adjustments
to net income.
The press release
also contained a reference to Non-GAAP Diluted Earnings Per Share
and provided a reconciliation to diluted earnings per share.
Non-GAAP Diluted Earnings Per Share is the same as Non-GAAP Net Income described
above on a fully diluted per share basis.
ITEM 9.01 Financial
Statements and Exhibits
| (d) | Exhibits. The following Exhibits are furnished herewith: |
|
Exhibit Number |
Description |
|
| 99.1 | Press release, dated April27, 2017. | |
| 99.2 | Transcript of April27, 2017 Earnings Conference Call. |
About VASCO Data Security International, Inc. (NASDAQ:VDSI)
VASCO Data Security International, Inc. (VASCO) is an information technology (IT) security company that designs, develops and markets security solutions that secure and manage access to digital assets, protect and facilitate transactions online, via mobile devices, and in-person. The Company’s primary product and service lines include Host System products, which are typically a component of an organization’s IT infrastructure and Client Authenticators, which are devices used by end users for authentication. VASCO also offers additional product and service lines, including three categories of solutions; Developer Tools, which are typically used by organizations developing mobile applications; Risk Analysis Products, which are used to identify and mitigate the risk of fraud, and e-signature solutions, which are used to sign, send, and mange documents. The Company provides two-factor authentication and electronic signature solutions to financial institutions. VASCO Data Security International, Inc. (NASDAQ:VDSI) Recent Trading Information
VASCO Data Security International, Inc. (NASDAQ:VDSI) closed its last trading session 00.00 at 13.95 with 209,431 shares trading hands.
