VeriSign Inc VRSN
Q4 2011 Earnings Call Transcript

Transcript Call Date 01/26/2012

Operator: Good day, everyone, and welcome to the Fourth Quarter 2011 Earnings Call. Today's conference is being recorded.

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

David Atchley - IR: Thank you, operator. Good afternoon, everyone, and thank you for joining us for VeriSign's fourth quarter and full year 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 Please refer to that website for important information including the Q4 and full year 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 measures 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 is 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 fourth quarter capped the year of solid growth, execution, financial performance and shareholder returns for VeriSign. During the past year, we completed a four-year Board directed restructuring plan, which included divesting non-core businesses, the sale of our Authentication Services business and relocating our headquarters. This restructuring has resulted in a more efficient and more focused VeriSign that we believe is better prepared for the opportunities ahead. We delivered both for the global community of Internet users that increasingly rely on us and for our shareholders. As stewards of critical elements of Internet infrastructure, both what we do and how we do it important for the secured and reliable operation of the global Internet on which billions of people worldwide depend.

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