http://www.morningstar.com/earnings/18610702-verisign-inc-vrsn-q3-2010.aspx

VeriSign Inc VRSN
Q3 2010 Earnings Call Transcript

Transcript Call Date 10/28/2010

Operator: Good day and welcome to the Third Quarter 2010 Earnings Call. Today’s conference is being recorded.

At this time, I'd like to turn the conference over to Mrs. Nancy Fazioli. Please go ahead.

Nancy Fazioli - IR: Thank you, operator. Good afternoon, everyone, and thank you for joining us for VeriSign's third quarter 2010 earnings conference call. I am Nancy Fazioli, Director of Investor Relations, and I'm 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 investor.verisign.com. Please refer to our website for important information including the Q3 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 performance or guidance during the quarter, unless it is done through a public disclosure.

The financial results in today's press release and the matters we'll 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.

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 would like to turn the call over to Mark. Mark?

Mark D. McLaughlin - President and CEO: Thanks, Nancy. Good afternoon, everyone. We're pleased with the performance of the business this quarter. We continue to see strength and the Internet trends that drive our business. Also, the team's ongoing operational discipline and execution leading up to and following the close of the sale of Authentication Services is helping to drive positive results.

There is still lot of work to be done as we transition the Authentication business. We are very focused on a smooth transaction which is on track, and which we expect to be largely completed in the mid-2011 timeframe.

I'll now cover the highlights of our financial results for the third quarter. Revenue in the third quarter for Naming Services was $172 million, representing an 11% year-over-year increase. Naming Services is comprised of Registry Services and Network Intelligence and Availability, or NIA services.

Read our Earnings Call Transcript disclaimer.
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