filings.toolsItem 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Financial Statements
Verisign’s financial statements required by this Item are set forth as a separate section of this Form 10-K. See Item 15 for a listing of financial statements provided in the section titled “Financial Statements.”
Supplementary Data (Unaudited)
The following tables set forth unaudited supplementary quarterly financial data for the two year period ended December 31, 2017. In management’s opinion, the unaudited data has been prepared on the same basis as the audited information and includes all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the data for the periods presented.
| 2017 | |||||||||||||||||||
| Quarter Ended | Year Ended | ||||||||||||||||||
| March 31 | June 30 (2) | September 30 | December 31 | December 31, | |||||||||||||||
| (In thousands, except per share data) | |||||||||||||||||||
| Revenues | $ | 288,614 | $ | 288,552 | $ | 292,428 | $ | 295,501 | $ | 1,165,095 | |||||||||
| Gross Profit | $ | 237,945 | $ | 240,908 | $ | 245,095 | $ | 247,821 | $ | 971,769 | |||||||||
| Operating Income | $ | 175,271 | $ | 174,960 | $ | 181,059 | $ | 176,432 | $ | 707,722 | |||||||||
| Net income | $ | 116,412 | $ | 123,100 | $ | 114,899 | $ | 102,837 | $ | 457,248 | |||||||||
| Earnings per share: | |||||||||||||||||||
| Basic | $ | 1.14 | $ | 1.22 | $ | 1.15 | $ | 1.05 | $ | 4.56 | |||||||||
| Diluted (1) | $ | 0.94 | $ | 0.99 | $ | 0.93 | $ | 0.83 | $ | 3.68 |
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| (1) | Earnings per share for the year is computed independently and may not equal the sum of the quarterly earnings per share. |
| (2) | Results for the quarter ended June 30, 2017 include a $10.6 million pre-tax gain recognized on the sale of the iDefense business. |
| 2016 | |||||||||||||||||||
| Quarter Ended | Year Ended | ||||||||||||||||||
| March 31 | June 30 | September 30 | December 31 | December 31, | |||||||||||||||
| (In thousands, except per share data) | |||||||||||||||||||
| Revenues | $ | 281,876 | $ | 286,466 | $ | 287,554 | $ | 286,271 | $ | 1,142,167 | |||||||||
| Gross Profit | $ | 231,294 | $ | 237,713 | $ | 237,747 | $ | 237,171 | $ | 943,925 | |||||||||
| Operating Income | $ | 166,767 | $ | 176,267 | $ | 174,776 | $ | 168,762 | $ | 686,572 | |||||||||
| Net income | $ | 107,456 | $ | 113,210 | $ | 114,427 | $ | 105,552 | $ | 440,645 | |||||||||
| Earnings per share: | |||||||||||||||||||
| Basic | $ | 0.98 | $ | 1.05 | $ | 1.08 | $ | 1.01 | $ | 4.12 | |||||||||
| Diluted (1) | $ | 0.82 | $ | 0.87 | $ | 0.90 | $ | 0.84 | $ | 3.42 |
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| (1) | Earnings per share for the year is computed independently and may not equal the sum of the quarterly earnings per share. |
Our quarterly revenues and operating results are difficult to forecast. Therefore, we believe that period-to-period comparisons of our operating results will not necessarily be meaningful, and should not be relied upon as an indication of future performance. Also, operating results may fall below our expectations and the expectations of securities analysts or investors in one or more future quarters. If this were to occur, the market price of our common stock would likely decline.
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