Verisign (VRSN) FY2011 results: revenue $772 million, up 13.4% on the year
Verisign Inc. (VRSN) reported revenue of $772 million for fiscal 2011, the year ended 31 December 2011, up 13.4% on the year before. Net income was $143 million, down 82.8%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$772 million
+13.4% on the year
FY2007FY2011
Operating margin
42.7%
34.1% a year earlier
FY2007FY2011
Net income
$143 million
-82.8% on the year
FY2007FY2011
Diluted EPS
$0.86
-81.5% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
772
681
616
+13.4%
Cost of revenue
165
157
167
+5.5%
Gross profit
607
524
449
+15.8%
Gross margin
78.6%
77.0%
72.9%
Research and development
53.3
53.7
52.4
-0.7%
Operating income
329
232
160
+41.8%
Operating margin
42.7%
34.1%
26.0%
Interest expense
147
158
47.4
-6.6%
Pre-tax income
194
95.4
125
+103.0%
Income tax
55.0
25.3
32.9
+117.3%
Effective tax rate
28.4%
26.6%
26.4%
Net income
143
831
246
-82.8%
Net margin
18.5%
122.1%
39.9%
Diluted EPS
$0.86
$4.64
$1.28
-81.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
336
215
395
+56.1%
Capital expenditure
193
80.5
117
+139.2%
Free cash flow
143
135
278
+6.4%
Free cash flow margin
18.6%
19.8%
45.2%
Cash from investing
273
603
484
-54.7%
Cash from financing
-852
-745
-198
Depreciation and amortisation
55.7
67.7
86.3
-17.7%
Share-based compensation
43.3
52.2
51.2
-17.1%
Buybacks
550
450
261
+22.3%
Dividends paid
463
518
n/a
-10.6%
Dividend per share
$2.75
$3.00
n/a
-8.3%
Diluted shares, weighted
167m
179m
193m
-6.7%
Shares outstanding at period end
159m
173m
183m
-7.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
-88.1
676
599
Non-controlling interest
n/a
n/a
48.9
Debt
690
582
574
+18.6%
Other liabilities
1,254
1,186
1,248
+5.8%
Total liabilities and equity
1,856
2,444
2,470
-24.1%
Fixed assets
327
190
404
+71.9%
Goodwill
n/a
52.5
290
Intangible assets
1.3
2.6
22.4
-49.6%
Investments
33.3
502
0.2
-93.4%
Cash and equivalents
1,313
1,560
1,477
-15.8%
Receivables
15.0
14.9
63.1
+0.7%
Other assets
166
122
213
+35.7%
Total assets
1,856
2,444
2,470
-24.1%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.