$VRSN
VeriSign, Inc

2017 Q1 Form 10-Q Financial Statement

#000101447317000012 Filed on April 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $288.6M $281.9M
YoY Change 2.39% 9.08%
Cost Of Revenue $50.67M $50.58M
YoY Change 0.17% 4.61%
Gross Profit $237.9M $231.3M
YoY Change 2.88% 10.1%
Gross Profit Margin 82.44% 82.06%
Selling, General & Admin $49.33M $47.78M
YoY Change 3.24% -1.84%
% of Gross Profit 20.73% 20.66%
Research & Development $13.34M $16.74M
YoY Change -20.3% -2.38%
% of Gross Profit 5.61% 7.24%
Depreciation & Amortization $13.10M $14.90M
YoY Change -12.08% -5.1%
% of Gross Profit 5.51% 6.44%
Operating Expenses $62.67M $64.53M
YoY Change -2.87% -1.98%
Operating Profit $175.3M $166.8M
YoY Change 5.1% 15.62%
Interest Expense $29.02M $28.80M
YoY Change 0.76% 30.83%
% of Operating Profit 16.56% 17.27%
Other Income/Expense, Net $1.301M $3.121M
YoY Change -58.31% -156.18%
Pretax Income $147.5M $141.1M
YoY Change 4.58% 20.93%
Income Tax $31.14M $33.63M
% Of Pretax Income 21.1% 23.84%
Net Earnings $116.4M $107.5M
YoY Change 8.33% 21.78%
Net Earnings / Revenue 40.33% 38.12%
Basic Earnings Per Share
Diluted Earnings Per Share $934.9K $816.9K
COMMON SHARES
Basic Shares Outstanding 102.5M shares 109.6M shares
Diluted Shares Outstanding 124.5M shares 131.6M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.786B $1.896B
YoY Change -5.8% 1.34%
Cash & Equivalents $454.6M $171.0M
Short-Term Investments $1.332B $1.662B
Other Short-Term Assets $30.85M $34.04M
YoY Change -9.37% -36.97%
Inventory
Prepaid Expenses $16.08M $15.72M
Receivables $8.054M $16.19M
Other Receivables $5.000M $14.00M
Total Short-Term Assets $1.817B $1.946B
YoY Change -6.62% 0.31%
LONG-TERM ASSETS
Property, Plant & Equipment $262.4M $286.2M
YoY Change -8.33% -8.23%
Goodwill $52.53M $52.53M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.15M $23.56M
YoY Change -22.96% -36.01%
Total Long-Term Assets $498.3M $377.6M
YoY Change 31.96% -43.45%
TOTAL ASSETS
Total Short-Term Assets $1.817B $1.946B
Total Long-Term Assets $498.3M $377.6M
Total Assets $2.316B $2.324B
YoY Change -0.35% -10.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.00M $19.00M
YoY Change 0.0% -17.39%
Accrued Expenses $76.00M $81.00M
YoY Change -6.17% 24.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $626.0M $629.0M
YoY Change -0.48% -0.94%
Total Short-Term Liabilities $1.499B $1.482B
YoY Change 1.19% -22.92%
LONG-TERM LIABILITIES
Long-Term Debt $1.238B $1.236B
YoY Change 0.16% -1.12%
Other Long-Term Liabilities $113.2M $114.6M
YoY Change -1.19% 7.18%
Total Long-Term Liabilities $2.004B $1.950B
YoY Change 2.76% 19.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.499B $1.482B
Total Long-Term Liabilities $2.004B $1.950B
Total Liabilities $3.503B $3.432B
YoY Change 2.09% -3.48%
SHAREHOLDERS EQUITY
Retained Earnings -$18.02B -$18.52B
YoY Change -2.67% -2.09%
Common Stock $325.0K $324.0K
YoY Change 0.31% 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.300B $7.700B
YoY Change 7.79% 10.0%
Treasury Stock Shares 223.1M shares 215.0M shares
Shareholders Equity -$1.188B -$1.108B
YoY Change
Total Liabilities & Shareholders Equity $2.316B $2.324B
YoY Change -0.35% -10.89%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $116.4M $107.5M
YoY Change 8.33% 21.78%
Depreciation, Depletion And Amortization $13.10M $14.90M
YoY Change -12.08% -5.1%
Cash From Operating Activities $148.2M $149.6M
YoY Change -0.97% 12.8%
INVESTING ACTIVITIES
Capital Expenditures $9.654M $7.082M
YoY Change 36.32% -45.7%
Acquisitions
YoY Change
Other Investing Activities -$11.75M $0.00
YoY Change -100.0%
Cash From Investing Activities $238.4M $19.70M
YoY Change 1110.49% -61.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $173.0M $172.4M
YoY Change 0.4% -3.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$165.1M -$164.3M
YoY Change 0.47% -149.74%
NET CHANGE
Cash From Operating Activities $148.2M $149.6M
Cash From Investing Activities $238.4M $19.70M
Cash From Financing Activities -$165.1M -$164.3M
Net Change In Cash $222.3M $5.065M
YoY Change 4289.0% -99.01%
FREE CASH FLOW
Cash From Operating Activities $148.2M $149.6M
Capital Expenditures $9.654M $7.082M
Free Cash Flow $138.5M $142.6M
YoY Change -2.83% 19.17%

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1014000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-51000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-12092000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
172360000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
173048000 USD
CY2016Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
874031000 USD
CY2017Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
813459000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7082000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9654000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
14385000 USD
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
16076000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8084000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
7997000 USD
CY2016Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
900810000 USD
CY2017Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1049795000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
107456000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
116412000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
266125000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
262352000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16743000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13344000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9636000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9292000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18184954000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18023169000 USD
CY2016Q1 us-gaap Revenues
Revenues
281876000 USD
CY2017Q1 us-gaap Revenues
Revenues
288614000 USD
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
20027000 USD
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18322000 USD
CY2016Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
1237189000 USD
CY2017Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
1237648000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11759000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
12563000 USD
CY2017Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
920100000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
359100000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-1200595000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
-1187749000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
23144000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
6037000 USD
CY2016Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
4632000 USD
CY2017Q1 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
5907000 USD
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
223100000 shares
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
8300000000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1065000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-893000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131581000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124464000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109592000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102467000 shares
CY2017Q1 vrsn Adjustmentstoaccumulateddeficit
Adjustmentstoaccumulateddeficit
45400000 USD
CY2016Q1 vrsn Additionalsharerepurchaseamountauthorized
Additionalsharerepurchaseamountauthorized
640900000 USD
CY2016Q4 vrsn Contingentinterestpayment
Contingentinterestpayment
6600000 USD
CY2017Q1 vrsn Contingentinterestpayment
Contingentinterestpayment
7700000 USD
CY2016Q1 vrsn Contingentinterestpaymentfordebenture
Contingentinterestpaymentfordebenture
6544000 USD
CY2017Q1 vrsn Contingentinterestpaymentfordebenture
Contingentinterestpaymentfordebenture
7719000 USD
CY2017Q1 vrsn Debtinstrumentfairvalueseniornotes2023
Debtinstrumentfairvalueseniornotes2023
761300000 USD
CY2017Q1 vrsn Debtinstrumentfairvalueseniornotes2025
Debtinstrumentfairvalueseniornotes2025
515000000 USD
CY2017Q1 vrsn Deferred Tax Assetforpreviouslyunrecognizedexcesstaxbenefits
DeferredTaxAssetforpreviouslyunrecognizedexcesstaxbenefits
47900000 USD
CY2017Q1 vrsn Excesstaxbenefitrelatedtostockbasedcompensation
Excesstaxbenefitrelatedtostockbasedcompensation
6200000 USD
CY2016Q4 vrsn Fairvalueofcontingentinterestpayment
Fairvalueofcontingentinterestpayment
14300000 USD
CY2017Q1 vrsn Fairvalueofcontingentinterestpayment
Fairvalueofcontingentinterestpayment
7500000 USD
CY2016Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
21073000 shares
CY2017Q1 vrsn Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryMethod
21327000 shares

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