Today we feature VASCO Data Security International Inc (NASDAQ: VDSI), a developer of hardware and software security systems, as the top momentum gainer since the stock gained more than 13% touching its 52-week highs during the last two consecutive trading days with a significant increase in shares exchanging hands. In the previous trading session, VDSI was the top performer in the U.S. technology sector after climbing 18.9% and closing at its 52-week high of $11.17 while recording significant volume of 2.3 million shares. During the past 5-trading sessions, VDSI gained 40.2% with daily average trading volumes of 721,129 shares, while the stock accumulated over 42% during the past one month with daily average volumes of 189,667 shares.
The shares of VDSI surged after the company reported robust growth in Q1’14 earnings and also increased the full-year sales estimates for 2014. VDSI reported that its revenue from operations grew 10% to $38.8 million during the first quarter over the same of 2013. A significant rise of 46% in net income was reported which stood at $3.5 million or 9 cents per share versus the corresponding quarter last year. For the full year 2014, VDSI revised upwards its revenue guidance to range of $168 million to $172 million from the prior guidance range of $160 million to $165 million for the year.
Company Description:
VASCO Data Security International Inc (NASDAQ: VDSI), through its operating subsidiaries, designs, develops, markets, and supports open standards-based hardware and software security systems. The company’s systems manage and secure access to information assets. VASCO Data’s computer security subsidiaries include VASCO Data Security, Inc. in Illinois, and VASCO Data Security nv/sa of Belgium.
1-Year Stock Chart:
Source: Bloomberg
