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Technology Stocks : VeriSign (VRSN) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Salem who wrote (748)	10/21/1999 9:48:00 PM
From: Patriarch	Respond to of 1285

So now that we're profitable does the stock price start sliding? LOL. I wouldn't put it past the analysts on the street. Another great quarter from VRSN, still hoping for $150 by years-end. Tonight on CNBC, the MM du jour taking the Q&A with the public touted VRSN as a favorite. BTW, the WSJ tomorrow is going to have an article on these analysts and how they are not performing DD on companies they are following. An example: every analyst, except one, had a Buy on IBM going into this week. Oy ;) Below is Bloomberg's take on VRSN's numbers. --------------- VeriSign Records 1st Net Income as Revenue Increases Mountain View, California, Oct. 21 (Bloomberg) -- VeriSign Inc., which provides Internet-security software, reported profit for the first time as strong demand helped revenue more than double in the third quarter. Net income rose to $1.57 million, or 3 cents a share, from a loss from operations of $4.2 million, or 9 cents, a year earlier. It was expected to earn 2 cents, the average estimate of analysts polled by First Call Corp. Revenue rose to $22.8 million from $10.5 million. VeriSign leases and manages software used to issue computerized identification cards known as digital certificates. More companies are using its services for the certificates, which allow workers and customers to access restricted information over the Internet and exchange encrypted e-mail. ``We really think VeriSign is capturing the majority of market share,' said Steve Sigmond, a Dain Rauscher Wessels analyst who rates the shares ``strong buy.' Sigmond was expecting revenue of $20.6 million. Mountain View, California-based VeriSign charges monthly fees for its digital certificates services and software. It said that deferred revenue of subscription fees that it will recognize in coming months was $25.3 million, more than double a year ago. The certificates also are used by Internet retailers to protect personal information that customers submit with orders. VeriSign sold 31,500 of those types of certificates in the quarter, a 17 percent increase from the second quarter. VeriSign's operating expenses excluding charges increased 47 percent to $22.8 million from $15.5 million a year ago, leaving its operating income at $100,000. VeriSign's shares rose 8 7/16 to 113 5/8. It released its earnings after the close of regular U.S. trading. Its shares rose as high as 116 in trading on electronic networks and regional exchanges after the 4 p.m. Nasdaq close. VeriSign, which is about 10 percent owned by RSA Security Inc., competes with rivals such as Entrust Technologies Inc.

To: Jerry Salem who wrote (748)	10/21/1999 9:48:00 PM
From: Jerry Salem	Read Replies (1) \| Respond to of 1285

Bill Gates, chairman and CEO of Microsoft, said, "Digital authentication is a vital component in moving Web sites from publishing to commerce. We have been using VeriSign Digital IDs initially with our Internet Information Server, Internet Explorer and Authenticode products. VeriSign, as a trusted third party, is key to our strategy to deliver a secure Internet environment for our customers."