VeriSign, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year 2013
January 25, 2013 at 03:00 am IST
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VeriSign, Inc. reported unaudited consolidated earnings result for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's revenues were $230,196,000 against $203,646,000 a year ago. Operating income was $135,355,000 against $92,873,000 a year ago. Income from continuing operations before income taxes was $131,294,000 against $77,326,000 a year ago. Income from continuing operations, net of tax was $101,089,000 or $0.68 per basic and diluted share against $45,329,000 or $0.28 per basic and diluted share a year ago. Net income was $105,641,000 or $0.65 per diluted share against $53,814,000 or $0.34 per basic and diluted share a year ago. Non-GAAP operating income was $142,824,000 against $103,715,000 a year ago. Non-GAAP net income was $95,855,000 or $0.59 per share against $63,944,000 or $0.40 per share a year ago. Free cash flow was $155 million for the fourth quarter of 2012, and includes a decrease of $2.3 million in excess benefits from stock-based compensation and excludes $13 million in capital expenditures in the quarter.
For the year, the company's revenues were $873,592,000 against $771,978,000 a year ago. Operating income was $57,327,000 against $29,389,000 a year ago. Income from continuing operations before income taxes was $12,695,000 against $93,587,000 a year ago. Income from continuing operations, net of tax was $12,485,000 or $1.91 per diluted share against $138,556,000 or $0.83 per diluted share a year ago. Net income was $320,032,000 or $1.95 per diluted share against $142,891,000 or $0.86 per diluted share a year ago. Net cash provided by operating activities was $537,630,000 against $335,901,000 a year ago. Purchases of property and equipment were $53,023,000 against $192,660,000 a year ago. Non-GAAP operating income was $491,245,000 against $383,765,000 a year ago. Non-GAAP net income was $322,491,000 or $1.97 per share against $248,954,000 or $1.49 per share a year ago. Free cash flow for 2012 was $503 million, including $18 million in excess tax benefits and excluding $53 million in capital expenditures.
For 2013 the company expected, revenue to be in the range of $945 million to $960 million, representing an annual growth rate of 8% to 10%. Non-GAAP gross margin is expected to be at least 80%. Full year 2013 non-GAAP operating margin is expected to be at least 57%. Non-GAAP interest expense and non-GAAP non-operating income net is expected to be an expense of between $40 million and $42 million for 2013. And capital expenditures for the year are expected to be between $60 million and $80 million.
VeriSign, Inc. is one of the main world leading computer services firms specializing in securing Internet and telecommunication infrastructures. The group offers domain name registration services as well as infrastructure maintenance services intended primarily for defense organizations.
Sales break down geographically as follows: the United States (65.8%), Europe/Middle East/Africa (15.9%), China (7.4%) and other (10.9%).
VeriSign, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Full Year 2013