Verisign (VRSN) FY2017 results: revenue $1.2 billion, up 2.0% on the year
Verisign Inc. (VRSN) reported revenue of $1.2 billion for fiscal 2017, the year ended 31 December 2017, up 2.0% on the year before. Net income was $457 million, up 3.8%, and diluted earnings per share $3.68. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2018.
Revenue
$1.2 billion
+2.0% on the year
FY2010FY2017
Operating margin
60.7%
60.1% a year earlier
FY2010FY2017
Net income
$457 million
+3.8% on the year
FY2010FY2017
Diluted EPS
$3.68
+7.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,165
1,142
1,059
+2.0%
Cost of revenue
193
198
193
-2.5%
Gross profit
972
944
867
+2.9%
Gross margin
83.4%
82.6%
81.8%
Research and development
52.3
59.1
63.7
-11.4%
Operating income
708
687
606
+3.1%
Operating margin
60.7%
60.1%
57.2%
Interest expense
136
116
108
+18.0%
Pre-tax income
599
581
488
+3.1%
Income tax
142
141
112
+0.9%
Effective tax rate
23.7%
24.2%
23.1%
Net income
457
441
375
+3.8%
Net margin
39.2%
38.6%
35.4%
Diluted EPS
$3.68
$3.42
$2.82
+7.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
703
693
670
+1.4%
Capital expenditure
49.5
26.6
40.7
+86.3%
Free cash flow
653
666
629
-2.0%
Free cash flow margin
56.1%
58.3%
59.4%
Cash from investing
-405
-42.7
-497
Cash from financing
-65.1
-649
-136
Depreciation and amortisation
49.9
58.2
61.5
-14.3%
Share-based compensation
52.9
50.0
46.1
+5.7%
Buybacks
621
662
643
-6.2%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
124m
129m
133m
-3.6%
Shares outstanding at period end
98m
110m
110m
-11.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-1,260
-1,201
-1,070
Debt
2,410
1,867
1,870
+29.1%
Other liabilities
1,791
1,668
1,559
+7.4%
Total liabilities and equity
2,941
2,335
2,358
+26.0%
Fixed assets
264
266
296
-1.0%
Goodwill
52.5
52.5
52.5
0.0%
Investments
1,949
1,566
1,687
+24.5%
Cash and equivalents
466
232
229
+100.8%
Receivables
5.1
13.1
12.6
-60.8%
Other assets
205
205
81.6
+0.2%
Total assets
2,941
2,335
2,358
+26.0%
10-K for the year ended 31 December 2017, filed 16 February 2018: the filing.