$OSPN
OneSpan Inc.

2016 Q4 Form 10-Q Financial Statement

#000119312516758655 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $47.60M $43.65M $60.03M
YoY Change -6.47% -27.29% 14.05%
Cost Of Revenue $15.64M $11.55M $23.76M
YoY Change -20.97% -51.39% 39.42%
Gross Profit $31.95M $30.05M $35.70M
YoY Change -3.17% -15.81% 0.28%
Gross Profit Margin 67.13% 68.85% 59.46%
Selling, General & Admin $21.94M $22.22M $17.35M
YoY Change 7.87% 28.07% 7.29%
% of Gross Profit 68.66% 73.93% 48.6%
Research & Development $5.600M $6.776M $4.378M
YoY Change 40.35% 54.77% -1.42%
% of Gross Profit 17.53% 22.55% 12.27%
Depreciation & Amortization $2.850M $2.650M $1.430M
YoY Change 46.91% 85.31% -5.3%
% of Gross Profit 8.92% 8.82% 4.01%
Operating Expenses $29.77M $29.14M $22.24M
YoY Change 6.95% 31.02% 2.24%
Operating Profit $2.186M $912.0K $13.46M
YoY Change -57.7% -93.22% -2.8%
Interest Expense $380.0K $230.0K -$190.0K
YoY Change -83.76% -221.05% -83.76%
% of Operating Profit 17.38% 25.22% -1.41%
Other Income/Expense, Net $160.0K $134.0K -$25.00K
YoY Change -107.27% -636.0% -97.46%
Pretax Income $2.730M $1.275M $13.54M
YoY Change -48.59% -90.58% 5.01%
Income Tax -$2.280M $781.0K $2.351M
% Of Pretax Income -83.52% 61.25% 17.37%
Net Earnings $5.012M $478.0K $11.18M
YoY Change 43.86% -95.73% 0.17%
Net Earnings / Revenue 10.53% 1.1% 18.63%
Basic Earnings Per Share $0.13 $0.01 $0.28
Diluted Earnings Per Share $0.13 $0.01 $0.28
COMMON SHARES
Basic Shares Outstanding 40.20M shares 39.74M shares 39.58M shares
Diluted Shares Outstanding 39.83M shares 39.73M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.2M $141.5M $184.0M
YoY Change 16.76% -23.1% 46.15%
Cash & Equivalents $49.35M $31.46M $144.0M
Short-Term Investments $94.90M $110.1M $40.00M
Other Short-Term Assets $5.596M $4.108M $985.0K
YoY Change 17.12% 317.06% -37.66%
Inventory $17.42M $18.44M $21.90M
Prepaid Expenses $3.249M $3.375M $2.330M
Receivables $36.69M $27.23M $36.87M
Other Receivables $200.0K $300.0K $400.0K
Total Short-Term Assets $207.2M $195.0M $246.7M
YoY Change 12.98% -20.98% 28.18%
LONG-TERM ASSETS
Property, Plant & Equipment $3.281M $3.846M $2.621M
YoY Change 5.87% 46.74% -11.96%
Goodwill $54.41M
YoY Change
Intangibles $47.62M $31.32M $9.556M
YoY Change 22.13% 227.74% -31.73%
Long-Term Investments
YoY Change
Other Assets $15.87M $14.18M $6.671M
YoY Change 142.88% 112.59% -12.92%
Total Long-Term Assets $120.1M $120.2M $39.91M
YoY Change -6.5% 201.12% -16.56%
TOTAL ASSETS
Total Short-Term Assets $207.2M $195.0M $246.7M
Total Long-Term Assets $120.1M $120.2M $39.91M
Total Assets $327.3M $315.1M $286.6M
YoY Change 4.95% 9.94% 19.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.915M $6.704M $4.357M
YoY Change 1.27% 53.87% -50.41%
Accrued Expenses $16.30M $15.60M $14.60M
YoY Change -9.94% 6.85% 1.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $67.96M $58.05M $41.94M
YoY Change 22.03% 38.42% -5.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.878M $51.00K $39.00K
YoY Change 2371.05% 30.77% -93.5%
Total Long-Term Liabilities $1.878M $51.00K $39.00K
YoY Change 2371.05% 30.77% -93.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.96M $58.05M $41.94M
Total Long-Term Liabilities $1.878M $51.00K $39.00K
Total Liabilities $70.69M $58.94M $42.05M
YoY Change 10.85% 40.16% -6.86%
SHAREHOLDERS EQUITY
Retained Earnings $178.6M $173.5M $164.6M
YoY Change 6.26% 5.46% 44.39%
Common Stock $87.52M $88.87M $84.81M
YoY Change 2.0% 4.79% 211922.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $256.6M $256.2M $244.6M
YoY Change
Total Liabilities & Shareholders Equity $327.3M $315.1M $286.6M
YoY Change 4.95% 9.94% 19.28%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $5.012M $478.0K $11.18M
YoY Change 43.86% -95.73% 0.17%
Depreciation, Depletion And Amortization $2.850M $2.650M $1.430M
YoY Change 46.91% 85.31% -5.3%
Cash From Operating Activities $3.530M $10.00M $28.01M
YoY Change -83.21% -64.3% 843.1%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$280.0K -$210.0K
YoY Change -78.26% 33.33% -22.22%
Acquisitions
YoY Change
Other Investing Activities $14.90M -$13.91M $34.94M
YoY Change -118.75% -139.81% -334.03%
Cash From Investing Activities $14.80M -$14.19M $34.72M
YoY Change -118.52% -140.87% -328.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K 0.000 0.000
YoY Change -99.17% -100.0%
NET CHANGE
Cash From Operating Activities 3.530M 10.00M 28.01M
Cash From Investing Activities 14.80M -14.19M 34.72M
Cash From Financing Activities -50.00K 0.000 0.000
Net Change In Cash 18.28M -4.190M 62.73M
YoY Change -128.15% -106.68% -618.0%
FREE CASH FLOW
Cash From Operating Activities $3.530M $10.00M $28.01M
Capital Expenditures -$100.0K -$280.0K -$210.0K
Free Cash Flow $3.630M $10.28M $28.22M
YoY Change -83.1% -63.57% 770.99%

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0.14
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
VASCO DATA SECURITY INTERNATIONAL INC
us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Accounting for Leases</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39786000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39709000 shares
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Estimates and Assumptions</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Note 11 &#x2013; Contingencies</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> During the second quarter of 2015, our management became aware that certain of our products which were sold by our European subsidiary to a third-party distributor may have been resold by the distributor to parties in Iran, potentially including parties whose property and interests in property may be blocked pursuant to Executive Order 13224, Executive Order 13382 or that may be identified under Section&#xA0;560.304 of 31 C.F.R. Part 560 as the &#x201C;Government of Iran&#x201D;.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We ceased shipping to such distributor. In addition, the Audit Committee of the Company&#x2019;s Board of Directors initiated an internal review of this matter with the assistance of outside counsel. As a precautionary matter, concurrent initial notices of voluntary disclosure were submitted on June&#xA0;25, 2015 to each of the U.S. Department of the Treasury, Office of Foreign Assets Control (&#x201C;OFAC&#x201D;), and the U.S. Department of Commerce, Bureau of Industry and Security (&#x201C;BIS&#x201D;).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The Audit Committee with the assistance of outside counsel has completed their review. On December&#xA0;15, 2015, we filed a letter with BIS (Office of Export Enforcement) with the conclusion that the products supplied to the distributor were not subject to United States Export Control jurisdiction. The Office of Export Enforcement issued a &#x201C;no action&#x201D; letter, concluding the voluntary self-disclosure process under the Export Administration Regulations.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On January&#xA0;13, 2016, we filed a letter with OFAC, with the conclusions that VASCO and its subsidiaries made no direct sales to Iran or any party listed by OFAC as a Specially Designated National over the five-year period under review (i.e., June&#xA0;1, 2010 to June&#xA0;30, 2015). The letter further noted that the investigation did not identify any involvement on the part of senior management officials of VASCO, and to the contrary, noted that VASCO executive management officials had sought to implement procedures and provided notices to VASCO&#x2019;s sales personnel to prevent the diversion of VASCO products to unauthorized destinations and end users.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We have not received any response to the letter to OFAC and we cannot predict when OFAC will conclude their review of our voluntary self-disclosures. Based upon the OFAC guidelines for monetary penalties, in the fourth quarter of 2015, we accrued $900 for potential penalties if they are assessed by OFAC. Ultimately no penalty may be assessed or the penalty may be less or greater than the accrual, but in any event we do not believe that the final settlement will have a material adverse impact on our business.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On July&#xA0;28, 2015 a putative class action complaint was filed in the United States District Court for the Northern District of Illinois, captioned Linda J. Rossbach v. Vasco Data Security International, Inc., et al., case number 1:15-cv-06605, naming VASCO and certain of its current and former executive officers&#xA0;as defendants and alleging violations under the Securities Exchange Act of 1934, as amended.&#xA0;The suit was purportedly filed on behalf of a putative class of investors who purchased VASCO securities between February&#xA0;18, 2014 and July&#xA0;21, 2015, and seeks to recover damages allegedly caused by the defendants&#x2019; alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.&#xA0;The complaint seeks certification as a class action and unspecified compensatory damages plus interest and attorneys&#x2019; fees.&#xA0;Pursuant to a September&#xA0;1, 2015 scheduling order entered by the court, the lead plaintiff, once appointed, will have sixty days to file an amended complaint or notify the defendants that the lead plaintiff intends to rely on the current complaint.&#xA0;The defendants will then have sixty days to answer or otherwise respond to the operative complaint.&#xA0;To date, the court has not made any rulings with respect to the appointment of the lead plaintiff. Although the ultimate outcome of litigation cannot be predicted with certainty, the Company believes that this lawsuit is without merit and intends to defend against the action vigorously.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On October&#xA0;9, 2015, a derivative complaint was filed in the United States District Court for the Northern District of Illinois, captioned Elizabeth Herrera v. Hunt, et al., case number 1:15-cv-08937, naming VASCO&#x2019;s Board of Directors and certain of its current and former executive officers as individual defendants and the Company as a nominal defendant.&#xA0;Two additional derivative complaints, captioned Beth Seltzer v. Hunt, et al., case number 2015-ch-15541 and William Hooper v. Hunt, et al., case number 2016-ch-04054, were filed on October&#xA0;22, 2015 and March&#xA0;22, 2016, respectively, in the Circuit Court of Cook County, Illinois naming the same defendants.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The complaints assert, among other things, that the individual defendants breached their fiduciary duties by making material misstatements in, and omitting material information from, the Company&#x2019;s public disclosures and by failing to maintain adequate internal controls and properly manage the Company. Among other things, the complaints seek unspecified compensatory damages and injunctive relief.&#xA0;On February&#xA0;23, 2016, the court in Herrera granted a stay of the action pending the resolution of a certain motion to dismiss that the parties anticipate to be filed in Rossbach. On October&#xA0;29, 2015, a defendant removed the Seltzer action to the United States District Court for the Northern District of Illinois. Thereafter, the plaintiff led a motion to remand the action back to the Circuit Court of Cook County, Illinois, which was denied on February&#xA0;3, 2016. On February&#xA0;9, 2016, the court granted an agreed motion for voluntary dismissal of the Seltzer action, which dismissed the action with prejudice as to the named plaintiff&#x2019;s individual claims. As for the Hooper action, the court granted a stay on June&#xA0;8, 2016 on the same terms governing the stay in the Herrera action.</p> </div>
dei Trading Symbol
TradingSymbol
VDSI
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2004000
us-gaap Net Income Loss
NetIncomeLoss
5503000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1000000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
5520000
us-gaap Sales Revenue Net
SalesRevenueNet
144707000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
85000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
504000
us-gaap Operating Income Loss
OperatingIncomeLoss
7412000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2179000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-17000
us-gaap Gross Profit
GrossProfit
104554000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
749000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2545000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5078000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-373000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-14000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
152000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
159771000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8665000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4095000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-425000
us-gaap Goodwill Subsequent Recognition Of Deferred Tax Asset
GoodwillSubsequentRecognitionOfDeferredTaxAsset
9146000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3145000
us-gaap Share Based Compensation
ShareBasedCompensation
4066000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-10000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
8021000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
45266000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-47065000
us-gaap Operating Expenses
OperatingExpenses
97142000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
0
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-488000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-71302000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-885000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1000000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20179000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-882000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5457000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
94653000
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
75000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25074000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-651000
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-15000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
351000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
us-gaap Finite Lived Intangible Assets Translation Adjustments
FiniteLivedIntangibleAssetsTranslationAdjustments
-89000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6623000
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-15000
us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
1391000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2132000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7927000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-1816000
us-gaap Restricted Stock Expense
RestrictedStockExpense
4066000
us-gaap Cost Of Revenue
CostOfRevenue
40153000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
15000
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39733000 shares
vdsi Finite Lived Intangible Assets Disposal
FiniteLivedIntangibleAssetsDisposal
14000
vdsi Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
-235000
vdsi Us Foreign Tax Credit Carryforward Expiration Dates
USForeignTaxCreditCarryforwardExpirationDates
2023
vdsi Duration Of Cash And Cash Equivalents
DurationOfCashAndCashEquivalents
Cash equivalents are high-quality short term money market instruments and commercial paper, with original maturities of three months or less.
vdsi Expected Annualized Tax Rate
ExpectedAnnualizedTaxRate
0.28 pure
vdsi Product Warranty Accrual Provision For Claims Net
ProductWarrantyAccrualProvisionForClaimsNet
14000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.28
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39580000 shares
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.28
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.17 pure
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
11182000
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
11186000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
60027000
CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
107000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
13455000
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-4000
CY2015Q3 us-gaap Gross Profit
GrossProfit
36272000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-25000
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11172000
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-294000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13537000
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-10000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2351000
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8842000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
22817000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4378000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1558000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8506000
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1091000
CY2015Q3 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
509000
CY2015Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1049000
CY2015Q3 us-gaap Cost Of Revenue
CostOfRevenue
23755000
CY2015Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
23000
CY2015Q3 vdsi Product Warranty Accrual Provision For Claims Net
ProductWarrantyAccrualProvisionForClaimsNet
14000
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.01
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39834000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39736000 shares
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.01
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.61 pure
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
478000
CY2016Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
494000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
43648000
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
229000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
912000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1579000
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-16000
CY2016Q3 us-gaap Gross Profit
GrossProfit
32101000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
134000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
485000
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-110000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1275000
CY2016Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
7000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
781000
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14535000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
31189000
CY2016Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
0
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6776000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7682000
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2196000
CY2016Q3 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
456000
CY2016Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1123000
CY2016Q3 us-gaap Cost Of Revenue
CostOfRevenue
11547000
CY2016Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7000
CY2016Q3 vdsi Product Warranty Accrual Provision For Claims Net
ProductWarrantyAccrualProvisionForClaimsNet
-10000

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