This excerpt taken from the VRSN 8-K filed Jul 26, 2007.
VeriSign Reports Second Quarter Results in Line with Prior Guidance
Domain Name Registrations and SSL Installed Base Reach Record Levels
MOUNTAIN VIEW, CA July 26, 2007 VeriSign, Inc. (Nasdaq: VRSN), the leading provider of digital infrastructure for the networked world, today reported financial results for the second quarter ended June 30, 2007.
VeriSign reported total revenue of $368 million for the second quarter of 2007. These results include $4 million of revenue related to the Jamba Services business that is held for sale and which is reported under discontinued operations on the statements of operation. On a GAAP basis, VeriSign reported a net loss of $5 million for the second quarter of 2007 and a net loss per share of $0.02 per fully-diluted share.
On a non-GAAP basis, VeriSign reported net income of $62 million for the second quarter of 2007 and earnings per share of $0.25 per diluted share. A table reconciling the GAAP to non-GAAP net income reported above is appended to this release.
We are generally pleased with our second quarter performance, said Bill Roper, president and chief executive officer of VeriSign. These results indicate that the benefits of the company-wide reorganization initiated at the first of the year are beginning to impact our operational and financial performance. We are focusing on more discipline in our business processes and the growth opportunities that we see for the remainder of this year and into the next.
Our second quarter results demonstrate solid financial execution, said Bert Clement, chief financial officer of VeriSign. Strong growth in the core registry and SSL businesses continues to strengthen our balance sheet, with Deferred Revenue of $691 million, up 4% from last quarter, and Cash and Investments of $819 million.