2015-10-22

VeriSign, $VRSN, Q3 2015 Earnings Call, LIVE, 4:30pm ET

VeriSign, Inc. (NASDAQ: VRSN), the global leader in domain names and Internet security, and the internet's sole Root Zone Maintainer pursuant to an exclusive agreement with the United States government, will hold its earnings call for the third quarter 2015 on Thursday, Oct. 22, 2015, at 4:30 p.m. (EDT) (US). VeriSign is the world's Registry operator for .COM and .NET gTLDs.

.COM ranks #1 among all TLDs (top-level domains) in total domain names registrations globally, with more than 120 million .COM domain names registered. .NET, with more than 15 million domain names registered, is the #4 TLD in the world (after .tk and .de) (source:pdf).
Q3 2015 Verisign Earnings Conference Call info and links:
Oct 22, 2015 - 4:30 PM ET (US)

Financial Highlights
• Verisign ended the third quarter with cash, cash equivalents and marketable securities of $1.9 billion, an increase of $466 million as compared with year-end 2014.
• Cash flow from operations was $155 million for the third quarter of 2015, compared with $168 million for the same quarter in 2014.
• Deferred revenues on Sept. 30, 2015, totaled $940 million, an increase of $50 million from year-end 2014. • Capital expenditures were $7 million in the third quarter of 2015.
• During the third quarter, Verisign repurchased 2.3 million shares of its common stock for $156 million. At Sept. 30, 2015, $605 million remained available and authorized under the current share repurchase program which has no expiration.
• For purposes of calculating diluted EPS, the third quarter diluted share count included 18.0 million shares related to subordinated convertible debentures, compared with 13.2 million shares for the same quarter in 2014. These represent diluted shares and not shares that have been issued.

Business Highlights
• Verisign Registry Services added 1.68 million net new names during the third quarter, ending with 135.2 million .com and .net domain names in the domain name base, which represents a 3.4 percent increase over the base at the end of the third quarter in 2014, as calculated including domain names on hold for both periods.
• In the third quarter, Verisign processed 9.2 million new domain name registrations for .com and .net, as compared to 8.7 million for the same quarter in 2014.
• The final .com and .net renewal rate for the second quarter of 2015 was 72.7 percent compared with 71.8 percent for the same quarter in 2014. Renewal rates are not fully measurable until 45 days after the end of the quarter.

Third Quarter GAAP Financial Results:
VeriSign, Inc. and subsidiaries ("Verisign") reported revenue of $266 million for the third quarter of 2015, up 4.2 percent from the same quarter in 2014. Verisign reported net income of $92 million and diluted earnings per share of $0.70 for the third quarter of 2015, compared to net income of $95 million and diluted EPS of $0.69 for the same quarter in 2014. The operating margin was 58.1 percent for the third quarter of 2015 compared to 54.7 percent for the same quarter in 2014.

Third Quarter Non-GAAP Financial Results:
Verisign reported, on a non-GAAP basis, net income of $103 million and diluted EPS of $0.78 for the third quarter of 2015, compared to net income of $97 million and diluted EPS of $0.70 for the same quarter in 2014. The non-GAAP operating margin was 62.7 percent for the third quarter of 2015 compared to 60.6 percent for the same quarter in 2014. A table reconciling the GAAP to the non-GAAP results (which excludes certain items) is appended to the release.

"Our quarterly results demonstrate the ongoing strength of our business and our execution discipline, which continue to produce value for our shareholders," commented Jim Bidzos, Executive Chairman, President and Chief Executive Officer.

About VeriSign, Inc.--"Verisign, a global leader in domain names and Internet security, enables Internet navigation for many of the world’s most recognized domain names and provides protection for websites and enterprises around the world. Verisign ensures the security, stability and resiliency of key Internet infrastructure and services, including the .com and .net domains and two of the Internet’s root servers, as well as performs the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). Verisign’s Security Services include intelligence-driven Distributed Denial of Service Protection, iDefense Security Intelligence and Managed DNS." (source: verisign.com).

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