VeriSign, Inc. ( NASDAQ :VRSN ) reported financial results for the fourth quarter of 2013 and year ended Dec. 31, 2013.
VeriSign, Inc. and subsidiaries (“Verisign”) reported revenue of $246 million for the fourth quarter of 2013, up 7% from the same quarter in 2012.
The operating margin was 53% for the fourth quarter of 2013 compared to 58.8% for the same quarter in 2012.
Verisign reported net income of $292 million and diluted earnings per share (EPS) of $1.94 for the fourth quarter of 2013, compared to net income of $106 million and diluted EPS of $0.65 in the same quarter in 2012.
Financial Highlights
Verisign ended the fourth quarter with cash, cash equivalents and marketable securities of $1.7 billion, an increase of $167 million from year-end 2012.
Cash flow from operations was $147 million for the fourth quarter of 2013 and $579 million for the full year 2013 compared with $171 million for the same quarter in 2012 and $538 million for the full year 2012.
Business Highlights
Verisign Registry Services added 1.29 million net new names during the fourth quarter, ending with 127.2 million active domain names in the zone for .com and .net, which represents a 5 percent increase over the zone at the end of the fourth quarter in 2012.
In the fourth quarter, Verisign processed 8.2 million new domain name registrations for .com and .net as compared to 8.0 million for the same period in 2012.
During 2013, Verisign processed 34.0 million new domain name registrations as compared with 33.1 million for 2012.
The final .com and .net renewal rate for the third quarter of 2013 was 72.7 percent compared with 72.5 percent for the same quarter in 2012.
Renewal rates are not fully measurable until 45 days after the end of the quarter. Non-GAAP Items…
