VASCO Data Security International, Inc. (NASDAQ:VDSI) Files An 8-K Results of Operations and Financial Condition
ITEM2.02 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 February14, 2017, VASCO Data Security International, Inc.
(VASCO) issued a press release providing a financial update for
the fourth quarter and year ended December31, 2016. The full text
of the press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K.
On February14, 2017, VASCO held a conference call with investors
to discuss VASCOs earnings and results of operations for the
fourth quarter and year ended December31, 2016. 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 net income from continuing operations to
EBITDA. 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 from continuing operations as
reported.
The press release contained a reference to Non-GAAP Net Income
from Continuing Operations and provided a reconciliation of net
income from continuing operations to Non-GAAP Net Income from
Continuing Operations. Non-GAAP Net Income from Continuing
Operations 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
from continuing operations.
The press release also contained a reference to Non-GAAP Diluted
Earnings Per Share from Continuing Operations and provided a
reconciliation of diluted earnings per share from continuing
operations to Non-GAAP Diluted Earnings Per Share from Continuing
Operations. Non-GAAP Diluted Earnings Per Share from Continuing
Operations is the same as Non-GAAP Net Income from Continuing
Operations described above on a fully diluted per share basis.
ITEM9.01 Financial Statements and Exhibits
| (d) | Exhibits. The following Exhibits are furnished herewith: |
|
Exhibit Number |
Description |
|
| 99.1 | Press release, dated February14, 2017. | |
| 99.2 | Transcript of February14, 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 up +0.03 at 13.43 with 685,757 shares trading hands.
