23 October 2017
Register now

Vasco bullish on prospects for 2005

17 December 2004  |  4326 views  |  0 accounts

Vasco, a provider of authentication technology, has issued a bullish forecast for the coming year and says it expects its full-year 2005 revenue to be 35% to 45% higher than its full-year 2004 revenues.

Shares in the the Nasdaq-listed firm hit a year high on Thursday. Earlier in the week the US Federal Deposit Insurance Corporation (FDIC) urged US banks to abandon single password-based ID systems in favour of two-factor authentication.

Vasco says its expects its growth in 2005 to acclerate due to an increase in the market for two-factor authentication. The company expects to secure more and larger orders in the retail and consumer banking markets.

Ken Hunt, chairman and CEO, Vasco, comments: "Vasco's growth rate will accelerate in 2005 reflecting the markets' increasing awareness of the need for strong authentication and the increasing recognition of the strength of Vasco's product offering."

Consistent with the increase in average order size, Vasco expects gross profit as a percentage of revenue to be in the range of 60% to 65% and operating income as a percentage of revenue to be in the range of 15% to 20%. Operating income as a percentage of revenue also reflects the vendor's plan to continue to increase its investment in sales and marketing.

The company reaffirms its full-year 2004 guidance, which includes revenue growth of 23% to 27% over full-year 2003, gross profit as a percentage of revenue of 65% to 69% and operating income as a percentage of revenue of 17% to 20%. Vasco expects fourth quarter 2004 revenue to be higher then the previous year, with lower gross profit and operating margins than in prior quarters of 2004.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related company information


Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15634 views comments | 17 tweets | 30 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13659 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10053 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9958 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8953 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job