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VeriSign Swings To Profit On Core Strength

DOW JONES NEWSWIRES VeriSign Inc. (VRSN) swung to a third-quarter profit as it benefited from strength in its core businesses. But shares fell 2.3% to $23.45 after-hours as revenue fell just short of analysts' expectations. The stock, hovering just below its 52-week high from two weeks ago, is up about one-quarter this year. The company has been shedding its low-growth businesses to focus on Web certificates and its Internet registry. However, the core Internet registry business faces renewed antitrust concerns after a federal appeals court in June reversed the dismissal of a suit filed by a nonprofit group of domain-name stakeholders. "As we enter the last quarter of 2009, and with our divestitures essentially behind us, we are focused on growing VeriSign's core businesses," said President and Chief Executive Mark McLaughlin. VeriSign reported earnings of $53.6 million, or 28 cents a share, compared with a loss of $201.1 million, or $1.03 a share, a year earlier, when the company had a $242.6 million loss from discontinued operations. The latest quarter had a net 5 cents in charges. Revenue increased 4.9% to $258 million. The core businesses recorded 6% growth. Analysts polled by Thomson Reuters expected earnings, excluding items, of 32 cents on revenue of $259 million. -By Jay Miller, Dow Jones Newswires; 212-416-2355;

Stock News for Verisign (VRSN)
02/28/201716:30:00Internet Grows to 329.3 Million Domain Name Registrations in...
02/27/201716:56:38Statement of Changes in Beneficial Ownership (4)
02/27/201716:51:21Statement of Changes in Beneficial Ownership (4)
02/27/201716:49:09Statement of Changes in Beneficial Ownership (4)
02/21/201717:31:17Statement of Changes in Beneficial Ownership (4)
02/21/201717:29:59Statement of Changes in Beneficial Ownership (4)
02/21/201717:28:36Statement of Changes in Beneficial Ownership (4)
02/21/201717:26:26Statement of Changes in Beneficial Ownership (4)
02/21/201717:24:47Statement of Changes in Beneficial Ownership (4)
02/17/201716:10:32Annual Report (10-k)
02/16/201716:40:02Statement of Changes in Beneficial Ownership (4)
02/16/201716:37:25Statement of Changes in Beneficial Ownership (4)
02/16/201716:35:16Statement of Changes in Beneficial Ownership (4)
02/16/201716:33:30Statement of Changes in Beneficial Ownership (4)
02/15/201716:05:00Verisign Announces 3.25% Junior Subordinated Convertible Debentures...
02/15/201707:10:35Amended Statement of Ownership (sc 13g/a)
02/14/201712:44:48Amended Statement of Ownership (sc 13g/a)
02/13/201717:11:18Amended Statement of Ownership (sc 13g/a)
02/10/201716:22:07Amended Statement of Ownership (sc 13g/a)
02/09/201716:12:37Current Report Filing (8-k)

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