$VRSN
VeriSign, Inc

2012 Q1 Form 10-Q Financial Statement

#000101447312000003 Filed on April 27, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $205.7M $181.5M
YoY Change 13.33% 12.33%
Cost Of Revenue $41.26M $40.87M
YoY Change 0.95% 5.33%
Gross Profit $164.5M $140.7M
YoY Change 16.93% 14.54%
Gross Profit Margin 79.95% 77.49%
Selling, General & Admin $51.32M $56.02M
YoY Change -8.38% -0.32%
% of Gross Profit 31.21% 39.83%
Research & Development $14.77M $13.59M
YoY Change 8.61% 10.52%
% of Gross Profit 8.98% 9.66%
Depreciation & Amortization $12.70M $14.00M
YoY Change -9.29% -36.07%
% of Gross Profit 7.72% 9.95%
Operating Expenses $66.09M $69.61M
YoY Change -5.07% 1.63%
Operating Profit $98.93M $65.51M
YoY Change 51.02% 20.64%
Interest Expense $12.34M $11.82M
YoY Change 4.4% -213.65%
% of Operating Profit 12.47% 18.04%
Other Income/Expense, Net $807.0K $3.800M
YoY Change -78.76% 15.15%
Pretax Income $87.40M $59.17M
YoY Change 47.71% 26.16%
Income Tax $21.29M $16.88M
% Of Pretax Income 24.36% 28.52%
Net Earnings $68.01M $40.77M
YoY Change 66.81% -20.68%
Net Earnings / Revenue 33.06% 22.46%
Basic Earnings Per Share $0.43 $0.24
Diluted Earnings Per Share $0.42 $0.24
COMMON SHARES
Basic Shares Outstanding 159.3M shares 170.2M shares
Diluted Shares Outstanding 162.9M shares 172.0M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.386B $1.947B
YoY Change -28.81% 25.61%
Cash & Equivalents $1.353B $1.441B
Short-Term Investments $33.00M $506.0M
Other Short-Term Assets $463.0K $97.00M
YoY Change -99.52% -3.96%
Inventory
Prepaid Expenses $10.55M
Receivables $13.55M $16.00M
Other Receivables $1.000M $0.00
Total Short-Term Assets $1.474B $2.060B
YoY Change -28.46% 18.19%
LONG-TERM ASSETS
Property, Plant & Equipment $328.5M $193.0M
YoY Change 70.19% -51.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.08M $23.00M
YoY Change 17.73% -45.24%
Total Long-Term Assets $409.1M $271.0M
YoY Change 50.95% -63.82%
TOTAL ASSETS
Total Short-Term Assets $1.474B $2.060B
Total Long-Term Assets $409.1M $271.0M
Total Assets $1.883B $2.331B
YoY Change -19.23% -6.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.00M $11.00M
YoY Change 45.45% 10.0%
Accrued Expenses $55.00M $79.00M
YoY Change -30.38% -29.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $642.6M $645.0M
YoY Change -0.37% -24.03%
LONG-TERM LIABILITIES
Long-Term Debt $693.0M $584.0M
YoY Change 18.66% 1.39%
Other Long-Term Liabilities $45.16M $238.0M
YoY Change -81.02% -14.08%
Total Long-Term Liabilities $1.311B $822.0M
YoY Change 59.55% -3.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $642.6M $645.0M
Total Long-Term Liabilities $1.311B $822.0M
Total Liabilities $1.954B $1.785B
YoY Change 9.47% -6.5%
SHAREHOLDERS EQUITY
Retained Earnings -$20.15B
YoY Change
Common Stock $318.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.700B
YoY Change
Treasury Stock Shares 159.4M shares
Shareholders Equity -$71.33M $545.0M
YoY Change
Total Liabilities & Shareholders Equity $1.883B $2.331B
YoY Change -19.23% -6.46%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $68.01M $40.77M
YoY Change 66.81% -20.68%
Depreciation, Depletion And Amortization $12.70M $14.00M
YoY Change -9.29% -36.07%
Cash From Operating Activities $110.3M $90.29M
YoY Change 22.14% -10.7%
INVESTING ACTIVITIES
Capital Expenditures $12.92M $15.57M
YoY Change -17.01% -178.22%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.181M
YoY Change -100.0% -100.27%
Cash From Investing Activities -$12.94M -$23.52M
YoY Change -44.98% -94.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $75.15M $207.4M
YoY Change -63.77% -669.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$60.00M -$187.3M
YoY Change -67.96% 554.77%
NET CHANGE
Cash From Operating Activities $110.3M $90.29M
Cash From Investing Activities -$12.94M -$23.52M
Cash From Financing Activities -$60.00M -$187.3M
Net Change In Cash $37.34M -$120.5M
YoY Change -130.99% -68.7%
FREE CASH FLOW
Cash From Operating Activities $110.3M $90.29M
Capital Expenditures $12.92M $15.57M
Free Cash Flow $97.36M $74.72M
YoY Change 30.3% -38.25%

Facts In Submission

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CY2011Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
18008000 USD
CY2012Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
5082000 USD
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12917000 USD
CY2011Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15565000 USD
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2012Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
86598000 USD
CY2012Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
74287000 USD
CY2011Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12016000 USD
CY2012Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10548000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
11390000 USD
CY2011Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
16550000 USD
CY2011Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2012Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
189000 USD
CY2011Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
11238000 USD
CY2012Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
5060000 USD
CY2011Q1 us-gaap Profit Loss
ProfitLoss
40771000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
68009000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
327136000 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
328474000 USD
CY2011Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13594000 USD
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14765000 USD
CY2012Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3922000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3922000 USD
CY2011Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
8685000 USD
CY2012Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
6707000 USD
CY2012Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-548000 USD
CY2011Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
5530000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-20220577000 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-20152568000 USD
CY2012Q1 us-gaap Revenues
Revenues
205726000 USD
CY2011Q1 us-gaap Revenues
Revenues
181523000 USD
CY2011Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
28441000 USD
CY2012Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27815000 USD
CY2011Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
22391000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8130000 USD
CY2011Q1 us-gaap Share Based Compensation
ShareBasedCompensation
14950000 USD
us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
1100000000 USD
CY2012Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
762900000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
-88107000 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
-71333000 USD
CY2012Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
13437000 USD
CY2011Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
57930000 USD
CY2012Q1 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
58052000 USD
CY2012Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
159400000 shares
CY2012Q1 us-gaap Treasury Stock Value
TreasuryStockValue
4700000000 USD
CY2012Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2700000 USD
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171979000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
162881000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
159344000 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170193000 shares
CY2012Q1 vrsn Claims Threshold Amount To Trigger Indemnification Obligation
ClaimsThresholdAmountToTriggerIndemnificationObligation
4000000 USD
CY2012Q1 vrsn Fair Value Assumptions Credit Spread
FairValueAssumptionsCreditSpread
0.05
CY2012Q1 vrsn Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.31
CY2012Q1 vrsn Fair Value Hypothetical Increase Decrease In Credit Spread
FairValueHypotheticalIncreaseDecreaseInCreditSpread
0.01
CY2012Q1 vrsn Fair Value Hypothetical Increase Decrease In Volatility Rate
FairValueHypotheticalIncreaseDecreaseInVolatilityRate
0.10
CY2011Q4 vrsn Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
53848000 USD
CY2012Q1 vrsn Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
53525000 USD
CY2012Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
2541000 shares
CY2011Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
506000 shares
CY2012Q1 vrsn Indemnification Period
IndemnificationPeriod
60
CY2012Q1 vrsn Indemnity Claim Settlement Receivable
IndemnityClaimSettlementReceivable
500000 USD
CY2012Q1 vrsn Percentage Of Claims To Be Indemnified
PercentageOfClaimsToBeIndemnified
0.50
CY2012Q1 vrsn Percentage Of Legal Settlement To Be Paid By Company
PercentageOfLegalSettlementToBePaidByCompany
0.60
CY2012Q1 vrsn Tax Deductible Compensation Limit
TaxDeductibleCompensationLimit
1000000 USD
CY2012Q1 vrsn Weighted Average Exercise Price
WeightedAverageExercisePrice
40.81
CY2011Q1 vrsn Weighted Average Exercise Price
WeightedAverageExercisePrice
38.24
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001014473
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
157987693 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
VERISIGN INC/CA

Files In Submission

Name View Source Status
0001014473-12-000003-index-headers.html Edgar Link pending
0001014473-12-000003-index.html Edgar Link pending
0001014473-12-000003.txt Edgar Link pending
0001014473-12-000003-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vrsn-20120331.xml Edgar Link completed
vrsn-20120331.xsd Edgar Link pending
vrsn-20120331_cal.xml Edgar Link unprocessable
vrsn-20120331_def.xml Edgar Link unprocessable
vrsn-20120331_lab.xml Edgar Link unprocessable
vrsn-20120331_pre.xml Edgar Link unprocessable
vrsn-2012331x10q.htm Edgar Link pending
vrsn-2012331x10qxex3101.htm Edgar Link pending
vrsn-2012331x10qxex3102.htm Edgar Link pending
vrsn-2012331x10qxex3201.htm Edgar Link pending
vrsn-2012331x10qxex3202.htm Edgar Link pending