February 5, 2009 / 9:54 PM / 10 years ago

UPDATE 1-VeriSign quarterly profit meets estimates

* Q4 adj EPS $0.28 meet estimates

* Q4 revenue from core businesses beat expectations

Feb 5 (Reuters) - Internet security and naming services company VeriSign Inc (VRSN.O) reported a quarterly profit that met market estimates, but revenue was better than expected due to strong growth at its key segments.

The company’s naming business, its biggest unit, recorded a 12 percent year-over-year growth. Its secure sockets layer services unit grew 13 percent. VeriSign posted a fourth-quarter net income of 20 cents a share, compared with a loss of 98 cents a share a year ago.

Excluding items, earnings of 28 cents matched expectations. Revenue from core businesses was $245 million. Analysts expected $244 million, according to Reuters Estimates. [ID:nWNAB9183]

The company has been trying to spin-off its slower growing units, such as its communications, billing and commerce businesses, but has of late struggled to find buyers since the economic slowdown worsened.

VeriSign shares were trading at $19.78 after the bell. They closed at $20.21 Thursday on Nasdaq. (Reporting by S. John Tilak in Bangalore; Editing by Deepak Kannan)

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