VeriSign, Inc. (NASDAQ: VRSN), today reported financial results for the first quarter ended March 31, 2013 reported revenue of $236 million for the first quarter of 2013, up 15% from the same quarter in 2012.
Verisign reported the quarter ended with 123.1 million .com/.net domain name registered a 5.5% increase year over year.
Verisign reported net income of $85 million and diluted earnings per share (EPS) of $0.52 for the first quarter of 2013, compared to net income of $68 million and diluted EPS of $0.42 in the same quarter in 2012.
The operating margin was 56.4 percent for the first quarter of 2013 compared to 48.1 percent for the same quarter in 2012.
And of course that is without the guaranteed rate increases the Verisign enjoyed for the 6 year contract period that ended in 2012.
Share of Verisign which rose 1.5% in its regular session where up as much as 7% in after hours trading are no marginally up at $46.50 after opening the day at $45.49
Verisign ended the first quarter with Cash, Cash Equivalents, Marketable Securities and Restricted Cash of $1.57 billion, an increase of $9 million from year-end 2012.
- Cash flow from operations was $151 million for the first quarter compared with $110 million for the same quarter in 2012.
- Deferred revenues on March 31, 2013, totaled $847 million, an increase of $34 million from year-end 2012.
- Capital expenditures were $17 million in the first quarter of 2013.
- During the first quarter, Verisign repurchased approximately 3.0 million shares of its common stock for a cost of approximately $132 million. At March 31, 2013, approximately $844 million remained available and authorized under the current share repurchase program.
- Verisign Registry Services added 1.99 million net new names and ended the first quarter with 123.1 million active domain names in the zone for .com and .net, representing a 5.5 percent increase year over year.
- In the first quarter, Verisign processed 8.8 million new domain name registrations as compared to 8.9 million for the same quarter a year prior.