$VRSN
VeriSign, Inc

2016 Q1 Form 10-Q Financial Statement

#000101447316000101 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $281.9M $258.4M
YoY Change 9.08% 3.87%
Cost Of Revenue $50.58M $48.35M
YoY Change 4.61% 0.68%
Gross Profit $231.3M $210.1M
YoY Change 10.1% 4.63%
Gross Profit Margin 82.06% 81.29%
Selling, General & Admin $47.78M $48.68M
YoY Change -1.84% 13.88%
% of Gross Profit 20.66% 23.17%
Research & Development $16.74M $17.15M
YoY Change -2.38% -6.98%
% of Gross Profit 7.24% 8.16%
Depreciation & Amortization $14.90M $15.70M
YoY Change -5.1% -1.88%
% of Gross Profit 6.44% 7.47%
Operating Expenses $64.53M $65.83M
YoY Change -1.98% 7.59%
Operating Profit $166.8M $144.2M
YoY Change 15.62% 3.33%
Interest Expense $28.80M $22.02M
YoY Change 30.83% 2.96%
% of Operating Profit 17.27% 15.26%
Other Income/Expense, Net $3.121M -$5.555M
YoY Change -156.18% -185.25%
Pretax Income $141.1M $116.7M
YoY Change 20.93% -6.46%
Income Tax $33.63M $28.43M
% Of Pretax Income 23.84% 24.37%
Net Earnings $107.5M $88.24M
YoY Change 21.78% -6.55%
Net Earnings / Revenue 38.12% 34.14%
Basic Earnings Per Share
Diluted Earnings Per Share $816.9K $658.7K
COMMON SHARES
Basic Shares Outstanding 109.6M shares 117.1M shares
Diluted Shares Outstanding 131.6M shares 133.9M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.896B $1.871B
YoY Change 1.34% 8.97%
Cash & Equivalents $171.0M $705.9M
Short-Term Investments $1.662B $1.165B
Other Short-Term Assets $34.04M $54.01M
YoY Change -36.97% -6.16%
Inventory
Prepaid Expenses $15.72M $21.40M
Receivables $16.19M $14.66M
Other Receivables $14.00M $20.00M
Total Short-Term Assets $1.946B $1.940B
YoY Change 0.31% 8.37%
LONG-TERM ASSETS
Property, Plant & Equipment $286.2M $311.9M
YoY Change -8.23% -5.41%
Goodwill $52.53M $52.53M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.56M $36.82M
YoY Change -36.01% 34.89%
Total Long-Term Assets $377.6M $667.7M
YoY Change -43.45% -18.49%
TOTAL ASSETS
Total Short-Term Assets $1.946B $1.940B
Total Long-Term Assets $377.6M $667.7M
Total Assets $2.324B $2.608B
YoY Change -10.89% -0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.00M $23.00M
YoY Change -17.39% 0.0%
Accrued Expenses $81.00M $65.00M
YoY Change 24.62% 16.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $629.0M $635.0M
YoY Change -0.94% 2.25%
Total Short-Term Liabilities $1.482B $1.922B
YoY Change -22.92% -5.95%
LONG-TERM LIABILITIES
Long-Term Debt $1.236B $1.250B
YoY Change -1.12% 66.67%
Other Long-Term Liabilities $114.6M $106.9M
YoY Change 7.18% 1317.01%
Total Long-Term Liabilities $1.950B $1.633B
YoY Change 19.38% 59.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.482B $1.922B
Total Long-Term Liabilities $1.950B $1.633B
Total Liabilities $3.432B $3.556B
YoY Change -3.48% 15.93%
SHAREHOLDERS EQUITY
Retained Earnings -$18.52B -$18.91B
YoY Change -2.09% -1.81%
Common Stock $324.0K $323.0K
YoY Change 0.31% 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.700B $7.000B
YoY Change 10.0% 14.75%
Treasury Stock Shares 215.0M shares 206.3M shares
Shareholders Equity -$1.108B -$947.9M
YoY Change
Total Liabilities & Shareholders Equity $2.324B $2.608B
YoY Change -10.89% -0.06%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $107.5M $88.24M
YoY Change 21.78% -6.55%
Depreciation, Depletion And Amortization $14.90M $15.70M
YoY Change -5.1% -1.88%
Cash From Operating Activities $149.6M $132.7M
YoY Change 12.8% -6.33%
INVESTING ACTIVITIES
Capital Expenditures $7.082M $13.04M
YoY Change -45.7% 15.81%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.787M
YoY Change -100.0% -11238.24%
Cash From Investing Activities $19.70M $51.16M
YoY Change -61.5% -166.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $172.4M $178.3M
YoY Change -3.35% 22.52%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$164.3M $330.3M
YoY Change -149.74% -341.27%
NET CHANGE
Cash From Operating Activities $149.6M $132.7M
Cash From Investing Activities $19.70M $51.16M
Cash From Financing Activities -$164.3M $330.3M
Net Change In Cash $5.065M $514.1M
YoY Change -99.01% -810.06%
FREE CASH FLOW
Cash From Operating Activities $149.6M $132.7M
Capital Expenditures $7.082M $13.04M
Free Cash Flow $142.6M $119.6M
YoY Change 19.17% -8.24%

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CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
24355000 USD
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
23563000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
83000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
869000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
4000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
66000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
87000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
935000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
114797000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
114573000 USD
CY2015Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
144000 USD
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
779000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1205000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1014000 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3787000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
178330000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
172360000 USD
CY2015Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
257415000 USD
CY2016Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
874031000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13042000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7082000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
14823000 USD
CY2016Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
15718000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
493824000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8776000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8084000 USD
CY2015Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
325399000 USD
CY2016Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
900810000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
88238000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
107456000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
295570000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
286202000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17152000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16743000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
11969000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
11969000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18625599000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18518143000 USD
CY2015Q1 us-gaap Revenues
Revenues
258422000 USD
CY2016Q1 us-gaap Revenues
Revenues
281876000 USD
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
22382000 USD
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
20027000 USD
CY2015Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
1235354000 USD
CY2016Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
1235813000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
10128000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11759000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
915800000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
388800000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-1070447000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
-1108023000 USD
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
16943000 USD
CY2016Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
4137000 USD
CY2015Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
4007000 USD
CY2016Q1 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
3252000 USD
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
215000000 shares
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
7700000000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-7019000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1065000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133850000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131581000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117139000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109592000 shares
CY2015Q1 vrsn Additionalsharerepurchaseamountauthorized
Additionalsharerepurchaseamountauthorized
611200000 USD
CY2015Q1 vrsn Contingentinterestpaymentfordebenture
Contingentinterestpaymentfordebenture
5225000 USD
CY2016Q1 vrsn Contingentinterestpaymentfordebenture
Contingentinterestpaymentfordebenture
6544000 USD
CY2016Q1 vrsn Debtinstrumentfairvalueseniornotes2023
Debtinstrumentfairvalueseniornotes2023
759400000 USD
CY2016Q1 vrsn Debtinstrumentfairvalueseniornotes2025
Debtinstrumentfairvalueseniornotes2025
505600000 USD
CY2016Q1 vrsn Fair Value Assumptions Credit Spread
FairValueAssumptionsCreditSpread
0.06 Rate
CY2015Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
15812000 shares
CY2016Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
21073000 shares

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