$VRSN
VeriSign, Inc

2014 Q1 Form 10-Q Financial Statement

#000101447314000030 Filed on April 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $248.8M $236.4M
YoY Change 5.22% 14.93%
Cost Of Revenue $48.03M $47.25M
YoY Change 1.63% 14.54%
Gross Profit $200.8M $189.2M
YoY Change 6.12% 15.03%
Gross Profit Margin 80.7% 80.01%
Selling, General & Admin $42.75M $37.75M
YoY Change 13.23% -26.44%
% of Gross Profit 21.29% 19.95%
Research & Development $18.44M $18.18M
YoY Change 1.45% 23.1%
% of Gross Profit 9.18% 9.61%
Depreciation & Amortization $16.00M $15.10M
YoY Change 5.96% 18.9%
% of Gross Profit 7.97% 7.98%
Operating Expenses $61.19M $55.93M
YoY Change 9.4% -15.37%
Operating Profit $139.6M $133.3M
YoY Change 4.74% 34.71%
Interest Expense $21.39M $12.60M
YoY Change 69.78% 2.07%
% of Operating Profit 15.32% 9.45%
Other Income/Expense, Net $6.516M -$5.777M
YoY Change -212.79% -815.86%
Pretax Income $124.7M $114.9M
YoY Change 8.55% 31.46%
Income Tax $30.29M $30.38M
% Of Pretax Income 24.29% 26.44%
Net Earnings $94.42M $84.51M
YoY Change 11.73% 24.27%
Net Earnings / Revenue 37.95% 35.74%
Basic Earnings Per Share $0.55
Diluted Earnings Per Share $635.3K $0.52
COMMON SHARES
Basic Shares Outstanding 133.4M shares 152.5M shares
Diluted Shares Outstanding 148.6M shares 161.3M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.717B $1.562B
YoY Change 9.92% 12.7%
Cash & Equivalents $267.1M $78.62M
Short-Term Investments $1.450B $1.484B
Other Short-Term Assets $57.55M $547.0K
YoY Change 10421.57% 18.14%
Inventory
Prepaid Expenses $17.30M $12.27M
Receivables $15.44M $13.62M
Other Receivables $28.00M $15.00M
Total Short-Term Assets $1.790B $1.615B
YoY Change 10.83% 9.6%
LONG-TERM ASSETS
Property, Plant & Equipment $329.7M $333.2M
YoY Change -1.04% 1.43%
Goodwill $52.53M
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $27.30M $17.41M
YoY Change 56.78% -35.7%
Total Long-Term Assets $819.2M $455.9M
YoY Change 79.67% 11.45%
TOTAL ASSETS
Total Short-Term Assets $1.790B $1.615B
Total Long-Term Assets $819.2M $455.9M
Total Assets $2.609B $2.071B
YoY Change 25.99% 10.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.00M $23.00M
YoY Change 0.0% 43.75%
Accrued Expenses $56.00M $47.00M
YoY Change 19.15% -14.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $621.0M $606.0M
YoY Change 2.48%
Total Short-Term Liabilities $2.044B $1.706B
YoY Change 19.77% 165.54%
LONG-TERM LIABILITIES
Long-Term Debt $750.0M $100.0M
YoY Change 650.0% -85.57%
Other Long-Term Liabilities $7.544M $44.75M
YoY Change -83.14% -0.92%
Total Long-Term Liabilities $1.023B $403.8M
YoY Change 153.36% -69.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.044B $1.706B
Total Long-Term Liabilities $1.023B $403.8M
Total Liabilities $3.067B $2.110B
YoY Change 45.34% 7.99%
SHAREHOLDERS EQUITY
Retained Earnings -$19.26B -$19.82B
YoY Change -2.8% -1.67%
Common Stock $321.0K $320.0K
YoY Change 0.31% 0.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.100B $5.100B
YoY Change 19.61% 8.51%
Treasury Stock Shares 189.3M shares 168.6M shares
Shareholders Equity -$457.6M -$39.14M
YoY Change
Total Liabilities & Shareholders Equity $2.609B $2.071B
YoY Change 25.99% 10.0%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $94.42M $84.51M
YoY Change 11.73% 24.27%
Depreciation, Depletion And Amortization $16.00M $15.10M
YoY Change 5.96% 18.9%
Cash From Operating Activities $141.6M $150.6M
YoY Change -5.98% 36.6%
INVESTING ACTIVITIES
Capital Expenditures $11.26M $17.12M
YoY Change -34.2% 32.5%
Acquisitions
YoY Change
Other Investing Activities -$34.00K $3.426M
YoY Change -100.99%
Cash From Investing Activities -$77.14M -$78.57M
YoY Change -1.81% 507.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $145.6M $142.9M
YoY Change 1.86% 90.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$136.9M -$122.4M
YoY Change 11.88% 103.91%
NET CHANGE
Cash From Operating Activities $141.6M $150.6M
Cash From Investing Activities -$77.14M -$78.57M
Cash From Financing Activities -$136.9M -$122.4M
Net Change In Cash -$72.40M -$50.28M
YoY Change 44.0% -234.67%
FREE CASH FLOW
Cash From Operating Activities $141.6M $150.6M
Capital Expenditures $11.26M $17.12M
Free Cash Flow $130.4M $133.5M
YoY Change -2.36% 37.14%

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CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
27297000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
27745000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-287000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-5000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
20000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
8000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-267000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
44524000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7544000 USD
CY2014Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2371000 USD
CY2013Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4309000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
931000 USD
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13000 USD
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-34000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3426000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
145556000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
142892000 USD
CY2013Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
764268000 USD
CY2014Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
784090000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17115000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11262000 USD
CY2014Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
17300000 USD
CY2013Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
13502000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8668000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8733000 USD
CY2014Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
718177000 USD
CY2013Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18104000 USD
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
20289000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
9993000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7594000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-423558000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19356095000 USD
CY2013Q1 us-gaap Revenues
Revenues
236447000 USD
CY2014Q1 us-gaap Revenues
Revenues
248796000 USD
CY2013Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
706244000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
94423000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
84513000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
329711000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
339653000 USD
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18439000 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18176000 USD
CY2014Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
8445000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
8479000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19261672000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
-457619000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
19853000 USD
CY2014Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
8752000 USD
CY2013Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
3978000 USD
CY2014Q1 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
4091000 USD
CY2014Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
189300000 shares
CY2014Q1 us-gaap Treasury Stock Value
TreasuryStockValue
6100000000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
5269000 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6433000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161346000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148600000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152543000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133417000 shares
CY2014Q1 vrsn Claims Threshold Amount To Trigger Indemnification Obligation
ClaimsThresholdAmountToTriggerIndemnificationObligation
4000000 USD
CY2014Q1 vrsn Fair Value Assumptions Credit Spread
FairValueAssumptionsCreditSpread
0.04
CY2014Q1 vrsn Fair Value Hypothetical Increase Decrease In Credit Spread
FairValueHypotheticalIncreaseDecreaseInCreditSpread
0.01
CY2014Q1 vrsn Fair Value Hypothetical Increase Decrease In Volatility Rate
FairValueHypotheticalIncreaseDecreaseInVolatilityRate
0.05
CY2014Q1 vrsn Foreign Income Tax Paid Net
ForeignIncomeTaxPaidNet
11200000 USD
CY2013Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
7904000 shares
CY2014Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
14286000 shares
CY2014Q1 vrsn Indemnification Period
IndemnificationPeriod
60
CY2014Q1 vrsn Percentage Of Claims To Be Indemnified
PercentageOfClaimsToBeIndemnified
0.50
CY2014Q1 vrsn Performancebasedsharesnotincludedincalculationofdilutedweightedaveragesharesoutstanding
Performancebasedsharesnotincludedincalculationofdilutedweightedaveragesharesoutstanding
300000 shares
CY2014Q1 vrsn Unrecognizedtaxbenefitsreclassified
Unrecognizedtaxbenefitsreclassified
36900000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001014473
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
131449939 shares
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
VERISIGN INC/CA

Files In Submission

Name View Source Status
0001014473-14-000030-index-headers.html Edgar Link pending
0001014473-14-000030-index.html Edgar Link pending
0001014473-14-000030.txt Edgar Link pending
0001014473-14-000030-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
vrsn-20140331.xml Edgar Link completed
vrsn-20140331.xsd Edgar Link pending
vrsn-20140331_cal.xml Edgar Link unprocessable
vrsn-20140331_def.xml Edgar Link unprocessable
vrsn-20140331_lab.xml Edgar Link unprocessable
vrsn-20140331_pre.xml Edgar Link unprocessable
vrsn-2014331x10q.htm Edgar Link pending
vrsn-2014331x10qxex1001.htm Edgar Link pending
vrsn-2014331x10qxex3101.htm Edgar Link pending
vrsn-2014331x10qxex3102.htm Edgar Link pending
vrsn-2014331x10qxex3201.htm Edgar Link pending
vrsn-2014331x10qxex3202.htm Edgar Link pending