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  • (01. January 2010., 10:27:49)












Author Topic: VeriSign Posts 2nd-Quarter Loss on Restructuring and Other Charges  (Read 1447 times)

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Security l33t

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MOUNTAIN VIEW, Calif. (AP) - VeriSign Inc., which manages the ".com" and ".net" domain names registry and also offers network security and connectivity services, said Thursday it swung to a second-quarter loss on hefty one-time charges.

VeriSign posted a loss of $4.7 million, or 2 cents per share, compared with a profit of $376.8 million, or $1.52 per share, for the same quarter in 2006.

The company posted a loss from continuing operations of $5.7 million, or 2 cents per share, compared with a profit from continuing operations of $375.9 million, or $1.52 per share, for the year-ago period.

Excluding restructuring, severance, amortization and other one-time charges and gains, VeriSign posted an adjusted profit of $62 million, or 25 cents per share, compared with an adjusted profit of $56.9 million, or 23 cents per share, for the 2006 quarter. Analysts polled by Thomson Financial had expected a profit of 25 cents per share, excluding one-time charges and gains.

Revenue fell to $363.2 million from $387.8 million in the year-ago period. Analysts expected $368.2 million in revenue.

The company's adjusted profit met Wall Street predictions, but its revenue fell short, sending VeriSign shares down $1.63, or 5.3 percent, to $29.16 in aftermarket trading, after falling 67 cents, or 2.1 percent, to $30.79 in the regular session.

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