VeriSign Inc VRSN
Q1 2010 Earnings Call Transcript

Transcript Call Date 04/28/2010

Operator: Good day and welcome to the VeriSign, Incorporated First Quarter 2010 Earnings Call. As a reminder, today's conference is being recorded.

At this time, I would like to turn the conference over to Ms. Nancy Fazioli. Please go ahead, ma'am.

Nancy Fazioli - IR: Thank you, operator. Good afternoon, everyone and thank you for joining us for VeriSign's first quarter 2010 earnings conference call. I am Nancy Fazioli, Director of Investor Relations and I am here today with Mark McLaughlin, President and CEO; and Brian Robins, Executive Vice President and CFO.

Please note that this call and accompanying slide presentation are being webcast from our Investor Relations website located at Please refer to our website for important information including the Q1, 2010 earnings press release. A replay of this call will be available on our website within a few hours.

Today's slide presentation will also be available for download after the call. Financial results in today's press release are unaudited and the matters we will be discussing today include forward-looking statements and as such are subject to the risks and uncertainties that we discussed in detail on our documents filed with the SEC, specifically the most recent report on Forms 10-K and 10-Q and any applicable amendments which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements.

I would like to remind you that in light of Regulation FD, VeriSign retains its longstanding policy to not comment on financial guidance during the quarter, unless it is done through a public disclosure.

The financial results in today's press release and the matters we will be discussing today include non-GAAP measures used by VeriSign. GAAP to non-GAAP reconciliation information is appended to our press release and slide presentation, both of which can be found on our Investor Relations website. Please note that we have included a table on the statement of operations in the press release with the classification of stock-based compensation.

In a moment, Mark and Brian will provide some prepared remarks, and afterwards we will open up the call for your questions. Unauthorized recording of this conference call is not permitted.

With that, I'd like to turn the call over to Mark. Mark?

Mark D. McLaughlin - President and CEO: Thanks, Nancy. Good afternoon, everyone. Q1 was a good quarter for us and a good way to set off the year. In both Naming and Authentication Services, we are seeing improvements in the business driven by the rebounding economy as well as programs and efforts we've implemented to improve the businesses.

As we've indicated in the past, we believe that online advertising spend and e-commerce spend are correlated to our business results on a lagging basis. Both of these areas are healthy, sequential improvement in the first quarter.

On the Naming side of the business in the first quarter, this helped us to achieve record new registrations as well as an improving renewal rate. And on the Authentication side of the business, we saw continued strength in bookings.

Read our Earnings Call Transcript disclaimer.
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