VeriSign, Inc. Reports Unaudited Consolidated Earnings Result for the First Quarter Ended March 31, 2013
Apr 25 13
VeriSign, Inc. reported unaudited consolidated earnings result for the first quarter ended March 31, 2013. For the quarter, the company’s revenues were $236,447,000 against $205,726,000 a year ago. Operating income was $133,264,000 against $98,930,000 a year ago. Income from continuing operations before income taxes was $114,891,000 against $87,397,000 a year ago. Income from continuing operations, net of tax was $84,513,000 or $0.52 per diluted share against $66,105,000 or $0.41 per diluted share a year ago. Net income was $84,513,000 or $0.52 per diluted share against $68,009,000 or $0.42 per diluted share a year ago. Non-GAAP operating income was $140,858,000 against $106,835,000 a year ago. Non-GAAP net income was $94,199,000 or $0.58 per share against $68,415,000 or $0.42 per share a year ago. Net cash provided by operating activities was $150,637,000 against $110,278,000 a year ago. Purchases of property and equipment were $17,115,000 against $12,917,000 a year ago. Capital expenditures were $17,000,000 in the first quarter of 2013. Adjusted EBITDA was $155,738,000 against $123,233,000 a year ago.
VeriSign, Inc. Closes Unregistered Offering of $750 Million Senior Unsecured Notes
Apr 17 13
VeriSign, Inc. closed its previously announced unregistered offering of $750,000,000 principal amount of the company’s 4.625% Senior Notes due 2023 at an issue price of 100% on April 16, 2013. The Notes were issued pursuant to an indenture, dated as of April 16, 2013, among the Company, each of the subsidiary guarantors party thereto and U.S. Bank National Association. The Indenture provides that the Notes are general unsecured senior obligations of the company and will be guaranteed on an unsecured senior basis by VeriSign Information Services, Inc. The company will use a portion of the net proceeds from the sale of the Notes to repay in full the $100.0 million of outstanding indebtedness under its unsecured credit facility and to pay accrued and unpaid interest thereunder. The company will pay interest on the Notes at 4.625% per annum, semi-annually on May 1 and November 1, commencing on November 1, 2013. The company may redeem all or a portion of the Notes at any time prior to May 1, 2018 at a price equal to 100% of the principal amount of the Notes plus a make-whole premium, plus accrued and unpaid interest, if any, to the redemption date. In addition, on or before May 1, 2018, the company may redeem up to 35% of the aggregate principal amount of the Notes with the net proceeds of certain equity offerings at a redemption price of 104.625% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, subject to compliance with certain conditions. The company may redeem all or a portion of the Notes at any time on or after May 1, 2018 at the applicable redemption prices set forth in the Indenture plus accrued and unpaid interest, if any, to the redemption date. If the company experiences specific kinds of changes in control and if the Notes are rated below investment grade by both rating agencies that rate the Notes, the company will be required to make an offer to purchase the Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to the date of purchase.
Verisign Announces Pricing of $750 Million Offering of Senior Unsecured Notes
Apr 11 13
VeriSign, Inc. announced that it has priced an offering of $750 million aggregate principal amount of 4.625% senior unsecured notes due 2023 which represents an increase in aggregate principal amount from the $600 million offering of notes previously announced. The Notes were offered and will be sold in a private placement to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act. The offering is expected to close on April 16, 2013, subject to customary closing conditions. The Notes will rank equally in right of payment to all of Verisign's existing and future senior unsecured debt. Interest will be payable semi-annually at a rate of 4.625% per year for the Notes. The Notes will mature on May 1, 2023.