We're in the money - again:
-- VRSN went into the black this quarter: $0.03/sh vs a $0.09 loss last year and beating expectations by a penny.
-- A 117% increase in revenue from last year of $22.8 million, its also a 22% revenue increase from 2Q99.
-- VRSN sold over 31,500 certificates in 3Q99, representing over an 85% increase in unit volumes from the year ago period and a 17% increase over the prior quarter.
-- Growth: "Over 180,000 website certificates have now been sold since the inception of the service in July 1995, with more than 100,000 of these in just the last 4 calendar quarters."
-- Global: "VeriSign also continued to extend its global reach, adding four new international service providers in Brazil, Korea, Ireland and Canada to the VeriSign Trust Network"
-- Government: "VRSN has over 40 federal agencies using the OnSite service to secure a broad range of applications. These include the Internal Revenue Service, the Social Security Administration, the Federal Bureau of Investigation, and the Federal Trade Commission. VeriSign was also recently selected by the General Services Administration (GSA) as part of a teaming agreement with AT&T to provide digital certificate and real-time validation services to enable secure citizen-to-government transactions under the ACES program. Additionally, at a state level, VeriSign was recently named the State of California's first licensed Certification Authority, enabling legally valid electronic communication between citizens and public entities within California."
-- Corporate: "VeriSign website certificates currently protect the websites of a predominant number of leading online merchants, global financial institutions, Fortune 500 companies."
BTW, on the Island ECN, VRSN was as high as $119.5 tonite, last buy, for 500 shares as $114.125.
Ladies and gentleman, a very fine quarter.
Pat |
