For the past few qtrs VASCO has finally taken to guiding down and has seemed to achieve those lower numbers. How can anyone be positive on the stock price..big PE with flat or lowered guidance. Message seems to be "we're in decline, but we're doing a good job of predicting the rate of decline".
Because they have maintained profitablilty, their revenue is projected to increase at least 5% this year, and they are rolling out new products and services which are supposed to generate 'material' revenue this year but not included in their guidance. And their P/E is not high at all. They could show a 15-25% increase in EPS this year.