New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
VeriSign Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: April 27, 2012 12:42PM

VeriSign Inc. (VRSN) filed Quarterly Report for the period ended 2012-03-31. Verisign Inc has a market cap of $6.7 billion; its shares were traded at around $41.81 with a P/E ratio of 32 and P/S ratio of 8.7. Verisign Inc had an annual average earning growth of 7.7% over the past 10 years.



Highlight of Business Operations:

We recorded revenues of $205.7 million during the three months ended March 31, 2012. This represents an increase of 13% in the three months ended March 31, 2012, as compared to the same period in 2011. The increase was primarily due to an 8% year-over-year increase in active domain names ending in .com and .net and increases in our .com and .net registry fees in July 2010 and January 2012.

We recorded operating income of $98.9 million during the three months ended March 31, 2012, an increase of 51% as compared to the same period last year. The increase was primarily due to an increase in our revenues as well as a reduction in restructuring expenses and general and administrative expenses as we realize the effect of post-divestiture cost savings.

We generated cash flows from operating activities of $110.3 million during the three months ended March 31, 2012, an increase of 22% as compared to the same period last year. The increase was primarily due to an increase in cash received from customers resulting from revenue growth, partially offset by an increase in income taxes paid.

Our revenues increased by $24.2 million during the three months ended March 31, 2012, as compared to the same period last year, primarily due to an 8% year-over-year increase in the number of domain names ending in .com and .net and increases in our .com and .net registry fees in July 2010 and January 2012 as per our agreements with ICANN.

Sales and marketing expenses increased during the three months ended March 31, 2012, as compared to the same period last year, due to increases in salary and employee benefits expenses and fees paid to ICANN for gTLD applications. Salary and employee benefits expenses increased by $1.9 million due to an increase in the average headcount related to growth in the NIA Services sales team and additional marketing personnel supporting our Registry Services and NIA Services businesses. During the three months ended March 31, 2012, we incurred fees of $2.4 million related to applications for new gTLDs.

Read the The complete Report



Stocks Discussed: VRSN,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial