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Technology Stocks : VASCO Data Security (VDSI)

VDSI 21.80

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Jun 5 5:00 PM EST

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From: JakeStraw	2/18/2010 8:07:36 AM
	of 195

VASCO Reports Results for Fourth Quarter and Full Year 2009 finance.yahoo.com Revenue for the fourth quarter and full year 2009 was $31.9 million and $101.7 million, respectively, an increase of 10% compared to the fourth quarter 2008 and a decrease of 24% compared to full year 2008. Operating income for the fourth quarter and full year 2009 was $5.4 million and $13.4 million, respectively, an increase of 197% compared to the fourth quarter 2008 and a decrease of 52% compared to full year 2008. Financial results for the periods ended December 31, 2009 and guidance for full year 2010 to be discussed on conference call today at 10:00 a.m. E.S.T. Operational and Other Highlights: * VASCO won 428 new customers in Q4 2009 (60 new banks and 368 new enterprise security customers). For the full year 2009, VASCO won 1,485 new customers (211 banks and 1,274 enterprise security customers). Although management considers the number of new customers as an indicator of the momentum of our business and effectiveness of our distribution channel, the number of new customers is not indicative of future revenue. * VASCO reinforces its presence in the Middle East by opening an office in the Kingdom of Bahrain. * IJZA secures electronic files in the youth care sector with DIGIPASS and IDENTIKEY. IJZA II is an online client registration program making youth care patients' files available over the internet. * SecurIT integrates VASCO authentication in its TrustBuilder solution for Tivoli Access Manager * VASCO announces that DIGIPASS® for Mobile is available for iPhone™ and iPod Touch™ * VASCO enhances DIGIPASS 830 with an alpha-numeric screen. DIGIPASS 830a combines e-signature functionality with EMV-CAP compliance. * VASCO extends its PKI-based product line with two new authenticators: DIGIPASS® KEY 200 and DIGIPASS® KEY 860. DIGIPASS KEY 200 is a USB device with a PKI smart card and secure USB mass storage on a single device. * VASCO launches DIGIPASS Authentication for Windows Logon and announces IDENTIKEY Server Enterprise Edition. * VASCO launches multi-application security model for strong authentication. A unique authentication and signature ID is stored in VASCO's comprehensive and centralised IDENTIKEY server, which can be expanded to support multiple access points and applications * VASCO lightens the supply chain burden by offering fulfillment services to financial institutions. * VASCO empowers its channel with new aXsGUARD Gatekeeper. Guidance for full-year 2010: VASCO is providing guidance for the full-year 2010 as follows: * Revenue growth of 15% to 20% for the full-year 2010 over full-year 2009, * Operating margins as a percentage of revenue for full-year 2010 are projected to be in the range of 5% to 10%.

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