Last $54.05 USD
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As of 8:10 PM 07/31/14 All times are local (Market data is delayed by at least 15 minutes).

verisign inc (VRSN) Key Developments

VeriSign, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

VeriSign, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $250.382 million against $239.332 million a year ago. Operating income was $143.121 million against $132.081 million a year ago. Income before income taxes was $126.625 million against $118.433 million a year ago. Net income was $100.176 million or $0.71 per diluted share against $86.890 million or $0.55 per diluted share a year ago. Non-GAAP operating income was $152.493 million against $140.916 million a year ago. Non-GAAP net income was $95.974 million or $0.68 per diluted share against $91.802 million or $0.58 per diluted share a year ago. Adjusted EBITDA was $168.198 million against $160.456 million a year ago. Capital expenditures were $7 million in the second quarter of 2014. Cash flow from operations was $121 million for the second quarter compared with $147 million for the same quarter in 2013. For the six months, the company reported revenue of $499.178 million against $475.779 million a year ago. Operating income was $282.706 million against $265.345 million a year ago. Income before income taxes was $251.341 million against $233.324 million a year ago. Net income was $194.599 million or $1.34 per diluted share against $171.403 million or $1.07 per diluted share a year ago. Net cash provided by operating activities was $262.738 million against $297.473 million a year ago. Purchases of property and equipment were $18.747 million against $37.550 million a year ago. Non-GAAP operating income was $302.071 million against $281.774 million a year ago. Non-GAAP net income was $190.931 million or $1.32 per diluted share against $186.001 million or $1.16 per diluted share a year ago. Four quarter ended adjusted EBITDA was $664.907 million. The company provided earnings guidance for the full year of 2014. Revenue for 2014 is now expected to be in the range of $1,003,000,000 to $1,012,000,000, representing an annual growth rate of approximately 4% to 5%. This is a change from the $1 billion to $1,015,000,000, as compared to previous guidance for the same period. Non-GAAP gross margin is still expected to be at least 80%. Non-GAAP interest expense and other non-GAAP non-operating income net is now expected to be an expense of between $76 million and $80 million for 2014, reflecting the possibility that the company may begin to accrue for the upside contingent interest expense on its convertible debentures starting in August of this year. This expense is increased from the $73 million to $77 million range. Capital expenditures for the year are now expected to be between $50 million and $60 million, changed from the $50 million to $70 million range given in previous guidance for the same period. The company expects cash tax rate to be well below the 28%.

VeriSign, Inc. to Report Q2, 2014 Results on Jul 24, 2014

VeriSign, Inc. announced that they will report Q2, 2014 results at 4:05 PM, US Eastern Standard Time on Jul 24, 2014

VeriSign, Inc., Q2 2014 Earnings Call, Jul 24, 2014

VeriSign, Inc., Q2 2014 Earnings Call, Jul 24, 2014

VeriSign, Inc. Approves Amendment to Certificate of Incorporation and Bylaws

VeriSign, Inc. at its AGM held on May 22, 2014 approved an amendment to fourth amended and restated certificate of incorporation and sixth amended and restated bylaws to permit stockholders to call special meetings.

VeriSign, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Revises Earnings Guidance for the Full Year 2014

VeriSign, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the first quarter, the company reported revenue of $248.796 million for the first quarter of 2014, up 5% from $236.447 million for the same quarter in 2013. Operating income was $139.585 million against $133.264 million a year ago. Income before income taxes was $124.716 million against $114.891 million a year ago. Net income was $94.423 million or $0.64 per diluted share against $84.513 million or $0.52 per diluted share a year ago. Net cash provided by operating activities was $141.629 million against $150.637 million a year ago. Purchases of property and equipment were $11.262 million against $17.115 million a year ago. Non-GAAP operating income was $149.578 million against $140.858 million a year ago. Non-GAAP net income was $94.956 million or $0.64 per diluted share against $94.199 million or $0.58 per diluted share a year ago. Adjusted EBITDA was $166.968 million against $155.738 million a year ago. First quarter free cash flow was $130 million. The company revised earnings guidance for the year 2014, revenue is now expected to be in the range of $1 billion to $1.015 billion, representing an annual growth rate of 4% to 5%. This is a change from the $1 billion to $1.02 billion, or growth rate of 4% to 6%, as given on last earnings call. Non-GAAP gross margin is still expected to be at least 80%. Full-year 2014 non-GAAP operating margin is still expected to be between 58% and 60%. Capital expenditures for the year are now expected to be between $50 million and $70 million, changed from the $60 million to $80 million range given previously.

 

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