Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of VASCO Data Security International,  (NASDAQ:VDSI) jumped 24% Tuesday after the company turned in better-than-expected fourth quarter results.

So what: Quarterly revenue rose 11% to $43.3 million, which translated to 55% net income growth from continuing operations to $0.09 per diluted share. Including the impact of discontinued operations, net income was $0.08 per diluted share. By contrast, analysts were looking for earnings of just $0.06 per share on revenue of $40 million.

Now what: For the full year 2014, VASCO expects revenue from their traditional business -- which excludes its new DIGIPASS and MYDIGIPASS.COM service product offerings -- to be $160 million to $165 million, or well ahead of Wall Street's expectations for total 2014 revenue of $160.5 million. Meanwhile, VASCO also expects operating income as a percentage of revenue to be in the range of 11% to 13%.

All things considered, shares of VASCO may not look particularly cheap trading around 22 times this year's expected earnings, but I think it's a well-deserved premium given VASCO's expected earnings growth. If VASCO can maintain even a fraction of its momentum going forward, don't be surprised if it continues to reward patient long-term investors from here.

Steve Symington and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.