This excerpt taken from the VRSN 8-K filed Jan 31, 2008.
VeriSign Reports Fourth Quarter and Fiscal 2007 Results
Exceeds Revenue Guidance; Moves Forward with Strategic Plan
MOUNTAIN VIEW, CA January 31, 2008 VeriSign, Inc. (Nasdaq: VRSN), the leading provider of Internet infrastructure for the networked world, today reported financial results for the fourth quarter and fiscal year ended December 31, 2007.
Q4 2007 Financial Results
VeriSign reported total revenue of $386 million for the fourth quarter of 2007. On a GAAP basis, VeriSign reported a net loss of $196 million for the fourth quarter of 2007 and a net loss per share of $0.88. These results include our best estimate of a non-cash impairment charge of $210 million associated with the digital content and messaging business.
On a non-GAAP basis (which excludes the items described below), VeriSign reported net income of $70 million for the fourth quarter of 2007 and earnings per share of $0.30 per fully-diluted share. A table reconciling the GAAP to non-GAAP results reported above is appended to this release.
VeriSigns core businesses and our strong operational execution continue to yield solid growth, said Bill Roper, president and chief executive officer of VeriSign. Our fourth quarter results support our decision to focus on our core strengths in Internet infrastructure. We are on track to deliver on the business strategy we outlined at our analyst day late last year.
2007 Financial Results
For the year ended December 31, 2007, VeriSign reported total revenue of $1.5 billion, excluding $12 million from discontinued operations.
On a GAAP basis, VeriSign reported a net loss of $120 million for 2007 and loss per share of $0.50.
On a non-GAAP basis (which excludes the items described below), VeriSign reported net income excluding Jamba and Jamba Services of $251 million for 2007 and earnings per share of $1.03 per fully-diluted share.
We met our financial goals for the fourth quarter, closing out a solid year as non-GAAP operating margin excluding Jamba improved over 650 basis points from year ago results, said Bert Clement, chief financial officer of VeriSign. The combination of a strong business model and operational rigor resulted in healthy operating cash flow of over $450 million and notable improvements in our balance sheet as we ended the year with strong cash and record deferred revenue.
Non-GAAP results exclude the following items which are included under GAAP: amortization of intangible assets, impairment of goodwill, acquired in-process R&D, stock-based compensation, former CEO severance, non-recurring costs and settlements, restructuring, impairments and other charges (reversals), net gain or loss on the sale or impairment of investments, gain or loss on the sale of a subsidiary, unrealized gain on Jamba JV call option, realized and unrealized gains and losses on embedded derivative, and stock option investigation costs. A table reconciling the GAAP to non-GAAP net income is appended to this release.
This excerpt taken from the VRSN 8-K filed May 2, 2007.
VeriSign Reports First Quarter 2007 Results
MOUNTAIN VIEW, CA May 2, 2007 VeriSign, Inc. (Nasdaq: VRSN), the leading provider of digital infrastructure for the networked world, today reported financial results for the first quarter ended March 31, 2007.
VeriSign reported total revenue of $379 million for the first quarter of 2007, compared with $373 million for the first quarter of 2006. VeriSign ended the first quarter with Cash, Cash Equivalents, Restricted Cash and Short-term Investments of $740 million and deferred revenue of $662 million.
With more than one billion Internet users and 2 billion wireless users on a global basis, the worlds interactions are going increasingly digital and we are seeing a transformation in the way our customers think about communication, commerce and content, said Stratton Sclavos, chairman and chief executive officer of VeriSign. With our unique infrastructure that enables and protects an increasing amount of the worlds networked interactions, we are helping our customers more quickly and economically deliver new services that improve customer loyalty, business productivity and operational compliance.
We are pleased by our execution on strategic initiatives, the growth we delivered in our core businesses, and the investments we are making in new strategic areas, said Dana Evan, Chief Financial Officer of VeriSign. Strong performance in our core Registry and SSL businesses continues to fuel future growth as we ended the quarter with a record $662 million in deferred revenue, an increase of 8% over the prior quarter.
VeriSign is not providing detailed GAAP or non-GAAP financials for the quarter ended March 31, 2007 due to the previously announced restatement of certain of its historical financial statements that have not yet been completed.
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