$OSPN
OneSpan Inc.

2014 Q2 Form 10-Q Financial Statement

#000119312514295364 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q4 2013 Q2
Revenue $47.65M $43.27M $37.26M
YoY Change 27.9% 11.4% -20.11%
Cost Of Revenue $16.63M $15.42M $13.38M
YoY Change 24.33% 6.64% -22.18%
Gross Profit $31.02M $27.85M $23.88M
YoY Change 29.89% 14.21% -18.91%
Gross Profit Margin 65.1% 64.36% 64.1%
Selling, General & Admin $17.04M $16.63M $15.96M
YoY Change 6.78% 6.88% 5.11%
% of Gross Profit 54.94% 59.72% 66.84%
Research & Development $5.202M $6.060M $5.345M
YoY Change -2.68% 25.99% 11.45%
% of Gross Profit 16.77% 21.76% 22.38%
Depreciation & Amortization $1.600M $1.550M $1.080M
YoY Change 48.15% 72.22% 18.68%
% of Gross Profit 5.16% 5.57% 4.52%
Operating Expenses $23.38M $23.81M $21.96M
YoY Change 6.45% 14.21% 7.35%
Operating Profit $7.646M $4.041M $1.924M
YoY Change 297.4% 14.18% -78.62%
Interest Expense -$50.00K $30.00K $40.00K
YoY Change -225.0% -90.32% 100.0%
% of Operating Profit -0.65% 0.74% 2.08%
Other Income/Expense, Net $249.0K $130.0K $265.0K
YoY Change -6.04% -165.0% -11.67%
Pretax Income $7.905M $4.200M $2.229M
YoY Change 254.64% 15.07% -76.2%
Income Tax $1.012M $870.0K $379.0K
% Of Pretax Income 12.8% 20.71% 17.0%
Net Earnings $6.886M $3.231M $1.809M
YoY Change 280.65% 60.19% -74.74%
Net Earnings / Revenue 14.45% 7.47% 4.86%
Basic Earnings Per Share $0.18 $0.08 $0.05
Diluted Earnings Per Share $0.17 $0.08 $0.05
COMMON SHARES
Basic Shares Outstanding 39.36M shares 39.47M shares 38.91M shares
Diluted Shares Outstanding 39.47M shares 39.23M shares

Balance Sheet

Concept 2014 Q2 2013 Q4 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.3M $98.60M $85.60M
YoY Change 44.04% -7.42% 0.59%
Cash & Equivalents $93.34M $98.61M $85.65M
Short-Term Investments $30.00M
Other Short-Term Assets $1.652M $2.051M $60.00K
YoY Change 2653.33% 4902.44% -99.19%
Inventory $25.69M $25.65M $25.49M
Prepaid Expenses $2.576M $2.719M $1.916M
Receivables $22.07M $28.53M $25.96M
Other Receivables $400.0K $600.0K $700.0K
Total Short-Term Assets $178.8M $161.6M $142.6M
YoY Change 25.36% 1.39% -0.9%
LONG-TERM ASSETS
Property, Plant & Equipment $3.192M $3.145M $3.470M
YoY Change -8.01% -22.38% -13.25%
Goodwill $24.43M $23.53M $9.223M
YoY Change 164.86% 78.6%
Intangibles $15.29M $17.67M $18.73M
YoY Change -18.35% 171.52%
Long-Term Investments
YoY Change
Other Assets $8.512M $6.822M $2.840M
YoY Change 199.72% 104.5% -11.25%
Total Long-Term Assets $51.43M $50.23M $47.04M
YoY Change 9.32% 85.56% 73.58%
TOTAL ASSETS
Total Short-Term Assets $178.8M $161.6M $142.6M
Total Long-Term Assets $51.43M $50.23M $47.04M
Total Assets $230.2M $211.9M $189.6M
YoY Change 21.38% 13.6% 10.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.36M $6.378M $6.323M
YoY Change 63.85% -17.86% 40.51%
Accrued Expenses $13.70M $10.90M $11.70M
YoY Change 17.09% 10.1% 14.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.57M $37.11M $30.15M
YoY Change 44.51% 23.9% 16.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $57.00K $100.0K
YoY Change 100.0% -41.24% -50.0%
Total Long-Term Liabilities $200.0K $57.00K $100.0K
YoY Change 100.0% -41.24% -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.57M $37.11M $30.15M
Total Long-Term Liabilities $200.0K $57.00K $100.0K
Total Liabilities $44.10M $37.60M $30.38M
YoY Change 45.14% 24.56% 15.52%
SHAREHOLDERS EQUITY
Retained Earnings $102.8M $92.40M $85.85M
YoY Change 19.74% 13.72%
Common Stock $40.00K $40.00K $39.00K
YoY Change 2.56% 2.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $186.1M $174.3M $159.3M
YoY Change
Total Liabilities & Shareholders Equity $230.2M $211.9M $189.6M
YoY Change 21.38% 13.6% 10.9%

Cashflow Statement

Concept 2014 Q2 2013 Q4 2013 Q2
OPERATING ACTIVITIES
Net Income $6.886M $3.231M $1.809M
YoY Change 280.65% 60.19% -74.74%
Depreciation, Depletion And Amortization $1.600M $1.550M $1.080M
YoY Change 48.15% 72.22% 18.68%
Cash From Operating Activities $15.72M $4.120M $890.0K
YoY Change 1666.29% -56.95% -115.98%
INVESTING ACTIVITIES
Capital Expenditures -$650.0K -$570.0K -$160.0K
YoY Change 306.25% -3.39% -52.94%
Acquisitions
YoY Change
Other Investing Activities -$31.30M -$40.00K -$19.45M
YoY Change 60.93% 300.0% -11541.18%
Cash From Investing Activities -$31.95M -$620.0K -$19.63M
YoY Change 62.76% 1.64% 11447.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.00K 3.150M -30.00K
YoY Change -400.0% 1160.0%
NET CHANGE
Cash From Operating Activities 15.72M 4.120M 890.0K
Cash From Investing Activities -31.95M -620.0K -19.63M
Cash From Financing Activities 90.00K 3.150M -30.00K
Net Change In Cash -16.14M 6.650M -18.77M
YoY Change -14.01% -27.8% 227.0%
FREE CASH FLOW
Cash From Operating Activities $15.72M $4.120M $890.0K
Capital Expenditures -$650.0K -$570.0K -$160.0K
Free Cash Flow $16.37M $4.690M $1.050M
YoY Change 1459.05% -53.84% -120.08%

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VASCO DATA SECURITY INTERNATIONAL INC
dei Trading Symbol
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VDSI
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Accounting for Leases</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> All of our leases are operating leases. Rent expense on facility leases is charged evenly over the life of the lease, regardless of the timing of actual payments.</p> </div>
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0.19 pure
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EarningsPerShareDiluted
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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ForeignCurrencyTransactionGainLossBeforeTax
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