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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)
05/17/201617:13:53Statement of Changes in Beneficial Ownership (4)
04/29/201609:05:25Additional Proxy Soliciting Materials (definitive) (defa14a)
04/29/201609:02:46Proxy Statement (definitive) (def 14a)
04/28/201616:44:58Quarterly Report (10-q)
04/28/201616:17:51Current Report Filing (8-k)
04/28/201616:05:00Verisign Reports First Quarter 2016 Results
04/22/201617:04:39Statement of Changes in Beneficial Ownership (4)
04/18/201617:03:29Statement of Changes in Beneficial Ownership (4)
04/14/201616:05:00Internet Grows to 314 Million Domain Names in the Fourth Quarter...
04/13/201617:04:26Proxy Statement - Notice of Shareholders Meeting (preliminary...
04/04/201616:05:00Verisign to Report First Quarter 2016 Financial Results
02/22/201617:18:51Current Report Filing (8-k)
02/22/201617:08:00Verisign Announces Retirement of Founding Board Member William...
02/19/201617:28:11Statement of Changes in Beneficial Ownership (4)
02/19/201617:25:33Statement of Changes in Beneficial Ownership (4)
02/19/201617:23:46Statement of Changes in Beneficial Ownership (4)
02/19/201617:18:26Statement of Changes in Beneficial Ownership (4)
02/16/201616:05:00Verisign Announces 3.25% Junior Subordinated Convertible Debentures...
02/16/201606:15:28Amended Statement of Ownership (sc 13g/a)
02/16/201606:02:13Statement of Ownership (sc 13g)

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