Revenue rose 2% to $400 million year-over-year at Internet infrastructure services company VeriSign Inc. for the third quarter ended Sept. 30, it says.
"We achieved a number of key milestones in the third quarter including record levels of business in our core Internet services and the Joint Venture announcement with News Corp to create a vertically oriented mobile entertainment company," says chairman and CEO Stratton Sclavos.
"The continued momentum in the Internet Services Group and the stabilization of the consumer facing mobile content business drove our solid revenue performance this quarter," adds CFO Dana Evan. "This performance resulted in record deferred revenue of $590 million."
VeriSign’s Internet Services Group’s Security Services unit recently announced plans to work with Internet security company Symantec to jointly provide applications to prevent identify theft and fraud. VeriSign also completed in Q3 its acquisition of GeoTrust, a supplier of SSL Internet security and other security technology, for about $125 million.
VeriSign’s web site certificate business issued about 136,000 new and renewal site certificates in Q3, increasing its installed base 12% from a year ago, not including GeoTrust certificates. With GeoTrust included, VeriSign now has an installed base of 781,000 certificates.
VeriSign’s Information Services business ended Q3 with 61.4 million active domain names in .com and .net, up 31% from a year ago.
VeriSign says it is not providing detailed GAAP or non-GAAP financials for the quarter due to the previously announced review and analysis of VeriSign's historical stock option grants being conducted by an ad hoc group of independent directors. The independent directors currently anticipate completing the investigation before the end of the year.
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