VeriSign, Inc. (NASDAQ: VRSN) reported its results for the third quarter of 2014, reporting revenue of $255 millionup 4.7% from the same quarter in 2013.
Verisign reported net income of $95 million and diluted earnings per share (EPS) of $0.69 for the third quarter of 2014, compared to net income of $81 million and diluted EPS of $0.53 in the same quarter in 2013.
The operating margin was 54.7 percent for the third quarter of 2014 compared to 54.5 percent for the same quarter in 2013.
Financial Highlights
- Verisign ended the third quarter with cash, cash equivalents and marketable securities of $1.5 billion, a decrease of $249 million as compared with year-end 2013.
- Cash flow from operations was $168 million for the third quarter compared with $134 million for the same quarter in 2013.
- Deferred revenues on Sept. 30, 2014, totaled $893 million, an increase of $37 million from year-end 2013.
- Capital expenditures were $11.3 million in the third quarter of 2014.
- During the third quarter, Verisign repurchased 4.2 million shares of its common stock for $226 million. At Sept. 30, 2014, $833 million remained authorized and available under Verisign’s share buyback program, which has no expiration.
- For purposes of calculating diluted EPS, the third quarter diluted share count included 13.2 million shares related to subordinated convertible debentures, compared with 10.5 million shares in the same quarter in 2013. These represent diluted shares and not shares that have been issued.
Business Highlights
- Verisign Registry Services added 1.15 million net new names during the third quarter, ending with 130.0 million active domain names in the zone for .com and .net, which represents a 3.3 percent increase over the zone at the end of the third quarter in 2013.
- In the third quarter, Verisign processed 8.7 million new domain name registrations for .com and .net as compared to 8.3 million for the same period in 2013.
- The final .com and .net renewal rate for the second quarter of 2014 was 71.8 percent compared with 72.7 percent for the same quarter in 2013. Renewal rates are not fully measurable until 45 days after the end of the quarter.
@Berkens,
Not to pick on you, but your editorial silence is deafening! Normally, you’d mouth off about the impact of the newgtlds on Verisign.
Let me just state the obvious, failure to say something is just as biased as saying a biased something. What was that you ask? Let’s read it again, slowly 😉
Domen
I don’t think you read the blog very closely
http://www.thedomains.com/2014/09/25/we-told-you-com-was-rocking-passes-114-5-million-registered-domain-names/
http://www.thedomains.com/2014/09/19/com-is-rocking/
http://www.thedomains.com/2014/08/13/verisign-only-3-of-new-gtld-domain-names-are-resolving-to-business-websites/
@Berkens,
That maybe so, but a li’l #WTG .COM” couldn’t hurt if you added it to the piece. Always remember those who might not, as you say, “read the blog very closely”. Besides, I swear, when a blogger is beaming when reporting a good news for new gtlds is discernible from when they are unperturbed with good one for the COM. The nuances, the caveats, the silence…
They all reveal something.
But, you are not the worst.
Here’s what I mean by editorial touches by you, on the negative news:
http://www.thedomains.com/2014/09/21/verisign-ranked-1-by-z-score-which-predicts-companies-heading-into-serious-financial-distress/
And here’s another, where you and i chatted a little:
http://www.thedomains.com/2014/09/04/trefis-research-says-verisign-com-net-market-share-is-at-risk-from-cctlds/
And another one, berkens, take a note of the editorial:
http://www.thedomains.com/2014/06/27/verisign-downgraded-by-wells-fargo-growth-is-slowing-due-to-new-gtlds-could-get-worse/
@Domenclature.com (the gentleman in me got the best of me;).
Take a deep breath, have some whatever and consider the article that @Berkens (D’Oracle) delivers several times a day.
I don’t remember when TV was first introduced but even then the advice was if you don’t like it you can turn it off and listen to the Wireless, today you have many channels, take your pick or be helpful.
Even better read a newspaper, simply print out The.Domains so you can write in red in the margins.
Groovy
Contribute / Complain?
Do you know what gets me irritated about this blog, and many blogs for that matter? Is that when you tackle a guy, just like I did here, by confronting Berkens with the facts, and showing him those articles he wrote less than a couple of months ago, he runs and hides from the conversation; no “I’m sorry”, no “I won’t do it again”, nothing!
Domen
That story was not an editorial it was a report by a stock brokerage firm.
Not an opinion of ours but a post on another companies analysis
@Berkens,
First you get a lot of credit for covering the Verison report today, and by extension, the strength of the DOT COM as still KING.
Shame on the rest of the bloggers who did not even bother. Exactly what could a domain blogger be blogging every day if they don’t cover Verisigns report, good or bad? Every blogger that didn’t bother to report this should NOT ONLY fold up, they should cover their face in shame.
But I fault you Berkens, for not adding any editorial to piece; to state whether it’s strong numbers for DOT COM or not, and what you thought about it; how it relates to the new gtld forecasts, and the present. I was disappointed. But hey, you are still a great blogger, don’t worry.
@ Domenclature, good point!
thank you, Louise
@ MIke Berkens, do you think this is a good analogy?
ccTLDs fall into one championship, like de, .fr, .it, .co.nz, etc. But .us didn’t catch on.
dot tv is its own championship
dot com is the combined title, like heavyweight combined champion
dot net would be like . . . the Ring? Along with other tlds.
Amateur bouts do not last as long. They do not have as many rounds. Instead of 12-15, they have 3.
New gTLDs are the amateurs?
You added, “We told you dot com was rocking!” link at the end! Thanx for listening to your readers.