Verisign (VRSN) FY2013 results: revenue $965 million, up 10.5% on the year
Verisign Inc. (VRSN) reported revenue of $965 million for fiscal 2013, the year ended 31 December 2013, up 10.5% on the year before. Net income was $544 million, up 70.1%, and diluted earnings per share $3.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$965 million
+10.5% on the year
FY2007FY2013
Operating margin
54.7%
52.4% a year earlier
FY2007FY2013
Net income
$544 million
+70.1% on the year
FY2007FY2013
Diluted EPS
$3.49
+79.0% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
965
874
772
+10.5%
Cost of revenue
187
168
165
+11.6%
Gross profit
778
706
607
+10.2%
Gross margin
80.6%
80.8%
78.6%
Research and development
70.3
61.7
53.3
+13.9%
Operating income
528
457
329
+15.5%
Operating margin
54.7%
52.4%
42.7%
Interest expense
74.8
50.2
147
+48.9%
Pre-tax income
457
413
194
+10.7%
Income tax
-87.7
100
55.0
Effective tax rate
-19.2%
24.3%
28.4%
Net income
544
320
143
+70.1%
Net margin
56.4%
36.6%
18.5%
Diluted EPS
$3.49
$1.95
$0.86
+79.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
579
538
336
+7.8%
Capital expenditure
65.6
53.0
193
+23.7%
Free cash flow
514
485
143
+6.0%
Free cash flow margin
53.2%
55.5%
18.6%
Cash from investing
-11.1
-1,442
273
Cash from financing
-357
-278
-852
Depreciation and amortisation
60.7
54.8
55.7
+10.6%
Share-based compensation
36.6
33.4
43.3
+9.9%
Buybacks
1,036
326
550
+218.0%
Dividends paid
0.0
0.0
463
Dividend per share
n/a
$2.75
$2.75
Diluted shares, weighted
156m
164m
167m
-5.0%
Shares outstanding at period end
134m
153m
159m
-12.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
-424
-9.3
-88.1
Debt
1,374
698
690
+97.0%
Other liabilities
1,710
1,374
1,254
+24.5%
Total liabilities and equity
2,661
2,062
1,856
+29.0%
Fixed assets
340
334
327
+1.7%
Goodwill
52.5
52.5
n/a
0.0%
Intangible assets
n/a
0.0
1.3
Investments
1,384
1,426
33.3
-2.9%
Cash and equivalents
339
131
1,313
+159.5%
Receivables
13.6
11.5
15.0
+18.8%
Other assets
532
108
166
+393.4%
Total assets
2,661
2,062
1,856
+29.0%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.