Last10K.com

Verisign Incca (VRSN) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Verisign Incca

CIK: 1014473 Ticker: VRSN



vrsnlogoverticalhiresa09.jpg


Verisign Reports Third Quarter 2018 Results

RESTON, VA - Oct. 25, 2018
- VeriSign, Inc. (NASDAQ: VRSN), a global leader in domain names and internet security, today reported financial results for the third quarter of 2018.

Third Quarter GAAP Financial Results
VeriSign, Inc. and subsidiaries (“Verisign”) reported revenue of $306 million for the third quarter of 2018, up 4.6 percent from the same quarter in 2017. Verisign reported net income of $138 million and diluted earnings per share (diluted “EPS”) of $1.13 for the third quarter of 2018, compared to net income of $115 million and diluted EPS of $0.93 for the same quarter in 2017. The operating margin was 63.8 percent for the third quarter of 2018 compared to 61.9 percent for the same quarter in 2017.

Third Quarter Non-GAAP Financial Results
Verisign reported, on a non-GAAP basis, net income of $151 million and diluted EPS of $1.23 for the third quarter of 2018, compared to net income of $124 million and diluted EPS of $1.00 for the same quarter in 2017. The non-GAAP operating margin was 68.7 percent for the third quarter of 2018 compared to 66.7 percent for the same quarter in 2017. A table reconciling the GAAP to the non-GAAP results (which excludes items described below) is appended to this news release.

“The continued dedication of our teams to protecting and managing our business has yielded another solid quarter,” said Jim Bidzos, Executive Chairman, President and Chief Executive Officer.
On Oct. 24, 2018, Verisign entered into an agreement with NeuStar, Inc. (“Neustar”) to sell the rights, economic benefits, and obligations, in all customer contracts related to its Security Services business. The transaction includes the sale of customer agreements related to Verisign’s Distributed Denial of Service Protection, Managed Domain Name System (“DNS”), DNS Firewall, and Recursive DNS services. Verisign will retain its proprietary technology, network assets, critical infrastructure, software, and public DNS service to focus solely on supporting Verisign’s core mission: ensuring the security, stability, and resiliency of our core infrastructure. As part of the transaction, Verisign will continue to support the Security Services customers during the transition to Neustar, pursuant to a transition services agreement that is expected to be executed at closing. The transaction is subject to customary regulatory approval and is expected to close shortly following the receipt of such approval. The purchase price, subject to a cap of $120 million, consists of a payment of $50 million, due at the time of closing, plus an additional contingent amount, due after the first anniversary of closing. The additional contingent amount, which cannot be negative, is based upon, among other things, the successful transition of customers to Neustar during the 12-month period following closing.

In commenting on the transaction, Jim Bidzos added: “Verisign is committed to focusing on its core mission of providing critical internet infrastructure, including Root Zone management, operation of 2 of the 13 global internet root servers, operation of .gov and .edu, and authoritative resolution for the .com and .net top-level domains, which support the majority of global e-commerce. For this reason, Verisign is transitioning its Security Services customers to Neustar.”


Financial Highlights

Verisign ended the third quarter with cash, cash equivalents and marketable securities of $1.18 billion, a decrease of $1.24 billion from year-end 2017.
Cash flow from operating activities was $187 million for the third quarter of 2018, compared with $175 million for the same quarter in 2017.
Deferred revenues on Sept. 30, 2018, totaled $1.02 billion, an increase of $25 million from year-end 2017.



The following information was filed by Verisign Incca (VRSN) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Verisign Incca's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Verisign Incca.

Continue

Assess how Verisign Incca's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Verisign Incca's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
Other
Filter Subcategory:
All
Product
Expense
Income
Cash Flow
Geography
Shares
Debt
Other
Inside Verisign Incca's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Basis Of Presentation
Basis Of Presentation Basis Of Presentation (Narrative) (Details)
Calculation Of Net Income Per Share
Calculation Of Net Income Per Share (Tables)
Calculation Of Net Income Per Share (Weighted-Average Shares Used In Calculation Of Basic And Diluted Eps) (Details)
Financial Instruments
Financial Instruments (Details)
Financial Instruments (Tables)
Financial Instruments Financial Instruments Narrative (Details)
Income Taxes
Income Taxes (Income Tax Expense From Continuing Operations And Effective Tax Rate) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Tables)
Interest Expense
Interest Expense (Interest Expense Schedule) (Details)
Interest Expense (Tables)
Interest Expense Interest Expense (Narrative) (Details)
Non-Operating (Loss) Income
Non-Operating (Loss) Income (Details)
Non-Operating (Loss) Income (Tables)
Other Balance Sheet Items
Other Balance Sheet Items (Components Of Accounts Payable And Accrued Liabilities) (Details)
Other Balance Sheet Items (Other Current Assets) (Details)
Other Balance Sheet Items (Tables)
Other Balance Sheet Items Other Balance Sheet Items (Narrative) (Details)
Other Balance Sheet Items Other Balance Sheet Items (Other Long-Term Assets) (Details)
Revenue (Details)
Revenue (Notes)
Revenue (Tables)
Revenue Revenue (Narrative Detail) (Details)
Stock-Based Compensation
Stock-Based Compensation (Classification Of Stock-Based Compensation) (Details)
Stock-Based Compensation (Nature Of Total Stock-Based Compensation) (Details)
Stock-Based Compensation (Tables)
Stockholders' Deficit
Stockholders' Deficit (Narrative) (Details)
Subsequent Events (Details)
Subsequent Events (Notes)
Ticker: VRSN
CIK: 1014473
Form Type: 10-Q Quarterly Report
Accession Number: 0001014473-18-000040
Submitted to the SEC: Thu Oct 25 2018 12:38:24 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Computer Programming Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/vrsn/0001014473-18-000040.htm