TELECOM Digest OnLine - Sorted: VeriSign Reports First Quarter 2005 Results

VeriSign Reports First Quarter 2005 Results

Monty Solomon (monty@roscom.com)
Wed, 20 Apr 2005 23:19:00 -0400

MOUNTAIN VIEW, Calif., April 20 /PRNewswire-FirstCall/ -- VeriSign,
Inc. (Nasdaq: VRSN), the leading provider of intelligent
infrastructure services for the Internet and telecommunications
networks, today reported its results for the first quarter ended March
31, 2005.

VeriSign reported revenue of $401 million for the first quarter of
2005, a 75 percent increase compared to the same period of 2004. On a
GAAP basis, VeriSign reported net income of $49 million for the first
quarter 2005 and earnings per share of $0.19 per fully-diluted share.
This compares with net income of $9 million and earnings per share of
$.04 per fully-diluted share for the same period of 2004.

On a non-GAAP, after tax basis, using a 30% effective tax rate on
non-GAAP pre-tax income of $95 million, earnings per share for the
first quarter was $0.25 per fully-diluted share, as compared to
non-GAAP pre-tax income of $50 million and earnings per fully-diluted
share of $0.14 for the same period in 2004. These non-GAAP results
exclude the following items, which are included under GAAP:
amortization of intangible assets related to acquisitions, the net
gain or loss on the sale of investments or the impairment of
investments, restructuring and other recoveries/charges, and
stock-based compensation charges related to acquisitions. A table
reconciling the non-GAAP to GAAP numbers reported above is appended to
this release.

- http://finance.lycos.com/home/news/story.asp?story=48510821

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