Shares of computing security specialist VASCO Data Security International (NASDAQ:VDSI) jumped in pre-market trading today, following the release of analyst-thumping results for the second quarter of 2014.
Analysts were looking for earnings near $0.09 per share on sales of approximately $42.3 million. VASCO delivered adjusted second-quarter earnings of $0.17 per share, up from $0.05 per share in the year-ago quarter. Revenue increased by 28% year-over-year, stopping at $47.7 million.
Operating margins were 16% in the second quarter, up from 10% in the previous quarter and 5% in the year-ago period.
Looking ahead, VASCO raised its full-year 2014 guidance for revenue and operating margins. The midpoint of VASCO's official sales target range was boosted by 4%. Operating margins are now expected to land at roughly 14%, up from 12% in earlier guidance figures.
"We are very pleased with the results of the second quarter," said VASCO CEO T. Kendall Hunt in a prepared statement. "The strength of both our intake of new orders and our pipeline of prospective orders has given us the confidence to increase our guidance for both full-year revenues and operating margins. We were also very pleased to expand our authentication technology portfolio with the acquisition of Risk IDS, a risk-based authentication solution." Risk IDS Ltd. serves the global banking community.
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Anders Bylund has no position in any stocks mentioned. The Motley Fool recommends Apple and Bank of America. The Motley Fool also owns shares of Apple and Bank of America. Try any of our Foolish newsletter services free for 30 days.