UPDATE 2-VeriSign Q1 results beat estimates

viernes 9 de mayo de 2008 00:18 CEST

(Adds outlook from conference call, updates share movement)

May 8 (Reuters) - Internet services provider VeriSign Inc (VRSN.O: Cotización) reported quarterly results that beat market estimates, helped by strong revenue growth at its core businesses.

In a conference call with analysts, the company forecast second-quarter revenue from core businesses of $228 million to $233 million.

Analysts on average were expecting revenue of $228.1 million, according to Reuters Estimates.

For the first quarter, VeriSign posted a net loss of $18.6 million, or 9 cents a share, compared with net income of $61.8 million, or 25 cents a share, a year earlier.

Revenue rose 7.9 percent to $354.3 million.

The results reflect an impairment on certain assets held for sale of $25.5 million and a restructuring charge of $26.5 million for both continuing and discontinued operations.

Excluding certain items, earnings at its core businesses, Internet infrastructure and identity services, were 21 cents a share on revenue of $223 million. Analysts expected earnings of 20 cents a share, excluding exceptional items, on revenue of $217.5 million, according to Reuters Estimates.

The company has been pursuing a plan, announced in November, to divest its slower growing units and focus on website-naming and Internet security services.   Continuación...