|VASCO Reports Results for Fourth Quarter and Full-year 2014|
Revenue from continuing operations for the fourth quarter and full-year 2014 was $62.4 million and $201.5 million, respectively, an increase of 44% compared to the fourth quarter 2013 and an increase of 30% compared to full-year 2013. Operating income from continuing operations for the fourth quarter and full-year 2014 was $12.7 million and $38.1 million, respectively, an increase of 218% compared to the fourth quarter of 2013 and an increase of 178% compared to the full-year 2013.
"Revenues for the fourth quarter and full-year 2014 were the best in the Company's history," stated T. Kendall Hunt, Chairman & CEO. "The results for 2014 reflected not only the markets' increased awareness of the need for our technology to safeguard their applications from the increased sophistication of hackers, but also the markets' recognition of the quality of our products and our reputation as a market leader in strong authentication. To maintain our market leadership position, we continued to strengthen our product line throughout 2014 for both our traditional markets as well as for markets that we believe will provide strong growth in the future. In 2014 our product enhancements included, but were not limited to, the integration of Cronto technology into our VACMAN Controller platform, the addition of Bluetooth capability to our one-button and card reader products, the enhancement of DIGIPASS for Apps and DIGIPASS for Mobile, which are products targeted at the mobile application market, our investment in the risk-based authentication business with the acquisition of Risk IDS and our continued investment in our cloud-based authentication services."