VeriSign Reports $401 Million Revenues
VeriSign has reported $401 million revenues for the fourth quarter of 2005. $8 million revenues are related to their payment gateway business.
VeriSigh has reported $401 million revenues for the fourth quarter of 2005. $8 million, out of the total revenues, are related to their payment gateway business.
On a GAAP basis, VeriSign reported a net income of $271 million for the fourth quarter. Earnings per share was $1.06 per fully diluted share.
The results included a one-time net gain of $252 million from the sale of its payment gateway business in Q4 to Paypal.
On a non-GAAP basis, earnings per share for the fourth quarter was $0.26 per diluted share, using a 30% effective tax rage on non-GAAP pre-tax income of $94 million.
The non-GAAP results excluded:
Amortization of intangible assets
Acquired in-process research and development
Stock-based compensation charges
Restructuring and other charges
The net gain on the sale of the payment gateway business
Net gain on the sale of investments and
Income tax expense.
The non-GAAP results included around $3 million of net income from discounted operations related to the payment gateway business.
For the year ending Dec 31, 2005, VeriSign reported total revenues of $1.66 billion, a 42% increase over 2004. These revenues included $52 million related to the payment gateway business.
Dana Evan, CFO of VeriSign, said: “2005 marked a significant year in terms of strong results, improved financial metrics, and continued investment in the future of VeriSign.
Although the mobile content business continues to be challenging, we are pleased with the company’s performance for Q$ of 2005 particularly in terms of operating cash flow which reached a record $141 million in Q4 and $480 million for the full year.” [Source]
For more information on VeriSign’s financial results for 2005, click here.
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