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What: Shares of VASCO Data Security (NASDAQ:VDSI) have gotten crushed today, down by 10% at the low, after the company reported earnings.

So what: Revenue in the fourth quarter came in at $38.8 million, slightly ahead of the consensus estimate of $37.7 million in sales. Earnings per share was $0.05, which was right on target. CEO T. Kendall Hunt said the business was down over the previous year due to its transactional nature.

Now what: The company said its business pipeline for traditional customers has strengthened over the past year. VASCO also provided guidance for 2013 and expects revenue from its traditional business to be in the range of $162 million to $167 million. Adjusted operating margin should be 12% to 14%. That sales forecast does not include VASCO's new service product offerings.

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Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.