http://www.morningstar.com/earnings/31868990-verisign-inc-vrsn-q3-2011.aspx

VeriSign Inc VRSN
Q3 2011 Earnings Call Transcript

Transcript Call Date 10/27/2011

Operator: Good day and welcome to the Third Quarter 2011 Earnings Call. Today’s call is being recorded.

At this time, I’d like to turn the conference over to David Atchley. Please go ahead, sir.

David Atchley - IR: Thank you, operator. Good afternoon, everyone, and thank you for joining us for VeriSign’s third quarter 2011 earnings conference call. I am David Atchley, Corporate Treasurer and Director of Investor Relations and I’m here today with Jim Bidzos, Executive Chairman, President and CEO, and John Calys, Vice President, Interim CFO and Controller.

Please note that this call and accompanying slide presentation are being webcast from the Investor Relations section of our corporate website, www.verisigninc.com. Please refer to that website for important information including the Q3 2011 earnings press release. A replay of this call will be available on the 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 discuss in detail in 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 will be discussing today include non-GAAP used by VeriSign. GAAP to non-GAAP reconciliation information is appended to our press release and slide presentation as applicable, each of which can be found on the Investor Relations section of our website. In a moment, Jim, and John will provide some prepared remarks, and afterwards we will open up the call for your questions. Unauthorized recording of this conference call are not permitted.

With that, I would like to turn the call over to Jim. Jim?

D. James Bidzos - Chairman, President and CEO: Thanks, David, and good afternoon everyone. The third quarter was another solid quarter for VeriSign. In our naming business, the base of registered name in dotcom and dotnet covered approximately $112 million at the end of September. In our NIA business we again saw strong bookings throughout. Also our strong balance sheet allowed us to repurchase $235 million in share in the third quarter; leaving us with approximately $831 million under the current share repurchase program authorization.

I’ll comment now on third quarter operating highlights. As I mentioned previously, in our naming business, the base of registered names in dotcom and net totaled approximately $112 million at the end of September. This represents an 8% increase year-over-year in the base and an approximately 2% increase quarter-over-quarter. In the third quarter, we added 1.994 million, 1,994,000 net names to the domain name base and we processed 7.9 million new registrations, which is an increase of approximately 5% year-over-year, and our largest third quarter on record for new registrations.

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