Verisign (VRSN) FY2012 results: revenue $874 million, up 13.2% on the year
Verisign Inc. (VRSN) reported revenue of $874 million for fiscal 2012, the year ended 31 December 2012, up 13.2% on the year before. Net income was $320 million, up 124.0%, and diluted earnings per share $1.95. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$874 million
+13.2% on the year
FY2007FY2012
Operating margin
52.4%
42.7% a year earlier
FY2007FY2012
Net income
$320 million
+124.0% on the year
FY2007FY2012
Diluted EPS
$1.95
+126.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
874
772
681
+13.2%
Cost of revenue
168
165
157
+1.4%
Gross profit
706
607
524
+16.4%
Gross margin
80.8%
78.6%
77.0%
Research and development
61.7
53.3
53.7
+15.8%
Operating income
457
329
232
+38.8%
Operating margin
52.4%
42.7%
34.1%
Interest expense
50.2
147
158
-65.9%
Pre-tax income
413
194
95.4
+113.2%
Income tax
100
55.0
25.3
+82.1%
Effective tax rate
24.3%
28.4%
26.6%
Net income
320
143
831
+124.0%
Net margin
36.6%
18.5%
122.1%
Diluted EPS
$1.95
$0.86
$4.64
+126.7%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
538
336
215
+60.1%
Capital expenditure
53.0
193
80.5
-72.5%
Free cash flow
485
143
135
+238.3%
Free cash flow margin
55.5%
18.6%
19.8%
Cash from investing
-1,442
273
603
Cash from financing
-278
-852
-745
Depreciation and amortisation
54.8
55.7
67.7
-1.6%
Share-based compensation
33.4
43.3
52.2
-22.9%
Buybacks
326
550
450
-40.8%
Dividends paid
0.0
463
518
Dividend per share
$2.75
$2.75
$3.00
0.0%
Diluted shares, weighted
164m
167m
179m
-1.8%
Shares outstanding at period end
153m
159m
173m
-3.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
-9.3
-88.1
676
Debt
698
690
582
+1.1%
Other liabilities
1,374
1,254
1,186
+9.6%
Total liabilities and equity
2,062
1,856
2,444
+11.1%
Fixed assets
334
327
190
+2.1%
Goodwill
52.5
n/a
52.5
Intangible assets
0.0
1.3
2.6
Investments
1,426
33.3
502
+4,186.1%
Cash and equivalents
131
1,313
1,560
-90.0%
Receivables
11.5
15.0
14.9
-23.4%
Other assets
108
166
122
-35.1%
Total assets
2,062
1,856
2,444
+11.1%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.