Verisign,has recently announced it financial results for the fourth quarter of 2011 and year ended December 31,2011 .
You can read the press release after the jump :
“VeriSign, Inc. (NASDAQ: VRSN), the trusted provider of Internet infrastructure services for the networked world, announced financial results for the fourth quarter of 2011 and year ended Dec. 31, 2011.
Fourth Quarter GAAP Financial Results
VeriSign, Inc. and subsidiaries (“Verisign”) reported revenue of $204 million for the fourth quarter of 2011, up 3% from the prior quarter and up 14% from the same quarter in 2010. Verisign reported net income of $54 million and diluted earnings per share (EPS) of $0.34 for the fourth quarter of 2011. This compared to a net loss of $(41) million and a loss per share of $(0.23) in the same quarter in 2010. Results for the fourth quarter of 2011 included a pre-tax, $4 million non-operating accrued expense, which is non-recurring in nature and which reduced diluted EPS by $0.02. The operating margin was 45.6% for the fourth quarter of 2011 compared to 37.7% for the same quarter in 2010.
Fourth Quarter Non-GAAP Financial Results
Verisign reported net income of $64 million and diluted EPS of $0.40 for the fourth quarter of 2011, compared to net income of $55 million and diluted EPS of $0.31 in the same quarter in 2010. Results for the fourth quarter of 2011 included a pre-tax, $4 million non-operating accrued expense, which is non-recurring in nature and which reduced diluted EPS by $0.02. The operating margin was 50.9% for the fourth quarter of 2011 compared to 44.3% for the same quarter in 2010. A table reconciling the GAAP to the non-GAAP results (which excludes items described below) is appended to this release.
“In a year that saw strong growth in global internet adoption, increased demand on our DNS infrastructure, and a growing need for network security services, Verisign delivered security and stability. We were able to both invest in strengthening our infrastructure, and manage our business for growth. Also in 2011, we completed four years of board-directed restructuring, including divesting non-core businesses, and relocating our corporate headquarters. We returned divestiture proceeds to our shareholders. This restructuring has resulted in a more efficient, focused Verisign that we believe is better prepared for the opportunities ahead. We delivered for both the global community of Internet users that increasingly rely on us, and for our shareholders,” said Jim Bidzos, chairman and chief executive officer of Verisign.
2011 GAAP Financial Results
For the year ended Dec. 31, 2011, Verisign reported revenue of $772 million, up 13% from $681 million in 2010. Verisign reported net income of $143 million and diluted EPS of $0.86. This compared to net income attributable to Verisign stockholders of $831 million and diluted EPS attributable to Verisign stockholders of $4.64 in 2010, which benefited from a net gain of $726 million, net of tax of $254 million, on the sale of the Authentication Services business. The operating margin for 2011 was 42.7% compared to 34.1% in 2010.
2011 Non-GAAP Financial Results
Verisign reported net income of $249 million and diluted EPS of $1.49 for 2011, compared to net income attributable to Verisign stockholders of $186 million and diluted EPS attributable to Verisign stockholders of $1.04 in 2010. The operating margin for 2011 was 49.7% compared to 41.8% in 2010. A table reconciling the GAAP to the non-GAAP results (which excludes items described below) is appended to this release.
“In 2011, operating discipline, focus, and the completion of our restructuring yielded solid results for the business, and we completed the return of divestiture proceeds to our shareholders,” said John Calys, interim chief financial officer of Verisign.
FINANCIAL HIGHLIGHTS
Verisign ended the fourth quarter of 2011 with Cash, Cash Equivalents, Marketable Securities and Restricted Cash of $1.35 billion, an increase of $111 million from the prior quarter and a decrease of $714 million from the same quarter in 2010.
Cash flow from operations on a consolidated basis was $124 million for the fourth quarter and $336 million for the full year. Excess tax benefits of $13 million for the full year that are associated with stock-based compensation were classified as financing cash flows.
Deferred revenues ended the fourth quarter of 2011 totaling $729 million, an increase of $6 million from the prior quarter and $66 million from the same quarter in 2010.
Capital expenditures, on a consolidated basis, were $129 million in the fourth quarter and $193 million for the full year. Capital expenditures included $106 million during the fourth quarter and $118 million for the full year for the purchase of the Reston headquarters building.
On Nov. 22, 2011, Verisign entered into a new $200 million unsecured revolving credit facility and borrowed $100 million of this facility on Nov. 28, 2011 in part to finance the purchase of the Reston building.
BUSINESS AND CORPORATE HIGHLIGHTS
Verisign Registry Services ended the quarter with approximately 113.8 million active domain names in the adjusted zone for .com and .net, representing an 8% increase year-over-year.
In the fourth quarter, Verisign added 7.9 million new domain name registrations, representing a 4% increase year-over-year.
During the fourth quarter, Verisign completed the move of its corporate headquarters to Reston, VA.
NON-GAAP ITEMS
Non-GAAP financial results exclude the following items that are included under GAAP: discontinued operations, stock-based compensation, amortization of other intangible assets, impairments of goodwill and other intangible assets, restructuring charges, contingent interest payments to holders of our Convertible Debentures, unrealized gain/loss on contingent interest derivative on Convertible Debentures, and non-cash interest expense. Non-GAAP financial information is also adjusted for a 30% tax rate which differs from the GAAP tax rate. A table reconciling the GAAP to non-GAAP operating income and net income attributable to Verisign stockholders is appended to this release. All non-GAAP figures for each period presented herein have been conformed to exclude the foregoing items under GAAP. Prior disclosures of non-GAAP figures do not exclude the same items and as such should not be used for comparison purposes.
TODAY’S CONFERENCE CALL
Verisign will host a live conference call today at 4:30 p.m. (EST) to review the fourth quarter and full year results. The call will be accessible by direct dial at (888) 676-VRSN (US) or (913) 312-1399 (international). A listen-only live web cast and accompanying slide presentation of the earnings conference call will also be available on the Investor Relations section of the Verisign website at www.verisigninc.com. A telephone replay of this call will remain available at (888) 203-1112 or (719) 457-0820 (passcode: 5973481) for one week after the conference call. An audio archive of the call will be available at https://investor.verisign.com/events.cfm. This press release and the financial information discussed on today’s conference call are available on the Investor Relations section of the Verisign website at www.verisigninc.com.
ABOUT VERISIGN
VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, Verisign helps companies and consumers all over the world connect between the dots. Additional news and information about the company is available at www.verisigninc.com.
VRSNF
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. These statements involve risks and uncertainties that could cause Verisign’s actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as increasing competition, pricing pressure from competing services offered at prices below our prices and changes in marketing practices including those of third-party registrars; challenging global economic conditions; challenges to ongoing privatization of Internet administration; the outcome of legal or other challenges resulting from our activities or the activities of registrars or registrants; new or existing governmental laws and regulations; changes in customer behavior, Internet platforms and web-browsing patterns; the uncertainty of whether Verisign will successfully develop and market new services; the uncertainty of whether our new services will achieve market acceptance or result in any revenues; system interruptions; security breaches; attacks on the Internet by hackers, viruses, or intentional acts of vandalism; the uncertainty of the expense and duration of transition services and requests for indemnification relating to completed divestitures; the uncertainty of whether Project Apollo will achieve its stated objectives; the impact of the introduction of new gTLDs; the uncertainty of whether the .com Registry Agreement renewal will occur by December 1, 2012, if at all; and when a Chief Financial Officer will be named. More information about potential factors that could affect the Company’s business and financial results is included in Verisign’s filings with the Securities and Exchange Commission, including in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Verisign undertakes no obligation to update any of the forward-looking statements after the date of this announcement.”
Article source: http://www.domainnews.com/en/verisign-reports-financial-results-for-the-fourth-quarter-of-2011.html
Review Team Asks for Community Comment on Draft Recommendations that Could Bring Big Changes to Whois
Whois allows you to look up the name and contact information of whoever operates any website domain – or at least, it should. But it isn’t always accurate. In some cases, Whois contact information is patently false, listing as website operators
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The domain name YouBuy.com was sold for $35,000 via Sedo .According to whois records,the domain name owner is Martin Kuster .
Moreover,the domain was created in 2001 .
SnapNames has now published the final inventory for the upcoming DomainFest Global 2012 auction .Moreover,also available for download is the extended catalog .
Democracy.com and Bargain.com domains have been added to the auction.
According to a press release today,the domain name TechStartups.com is now available for sale .
You can read the press release after the jump :
An arbitrator with the National Arbitration Forum has awarded two domain names ,ShoutCastLive.com and ShoutCastLive.net to AOL.The company submitted a complaint on December 19,2011,asserting legal rights over the disputed domains .
AOL owns many trademark registrations for the “ShoutCast” mark.Therefore,it is more than obvious that the disputed domain names are confusingly similar to its trademark .Moreover,the company contended in the complaint that the respondent registered and used the disputed domain names in bad faith .
Sedo is hosting these days a Benelux auction for domains with the .BE and .NL extensions .The auction runs until February 2,2012 and features 129 .nl and .be domain names .
Blog.de already has six bids with the highest bid of 2,999 EUR,while SexClubs.nl received three bids with the highest bid of 4,999 EUR .
SIDN,the company behind .nl domain name,announced that 2011 was a great year for them .Net growth was 607,265 domain names (14.5%): a huge increase on 2010.
You can read the press release after the jump :