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| VRSN > SEC Filings for VRSN > Form 8-K/A on 7-Aug-2009 | All Recent SEC Filings |
7-Aug-2009
Results of Operations and Financial Condition
On August 6, 2009, VeriSign, Inc. ("VeriSign" or the "Company") announced its financial results and certain other information for the fiscal quarter ended June 30, 2009 on a press release (the "Earnings Release"). The Earnings Release was included as Exhibit 99.1 to the Company's Current Report on Form 8-K furnished to the Securities and Exchange Commission on August 6, 2009.
The Earnings Release disclosed "Achieves 29% Core Earnings Per Share Growth Year-Over-Year." This statement is inaccurate and investors should not rely upon it in evaluating the Company's performance for the period ended June 30, 2009. The Company is hereby amending and restating this statement in the Earnings Release to disclose "Achieves 19% Non-GAAP Earnings Per Share Growth Year-Over-Year." The most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles in the United States ("GAAP") is year-over-year GAAP earnings per share growth of 151%. Except as described in this paragraph, no other revisions are being made to the Earnings Release pursuant to this Current Report on Form 8-K.
The tables presenting the reconciliation of GAAP to non-GAAP net income for the three and six months ended June 30, 2009 and June 30, 2008, are set forth below. The non-GAAP presentation for 2008 has been conformed to the non-GAAP presentation for 2009 by excluding the same items under GAAP for both periods. In addition to the change from "core" to "non-GAAP" earnings per share growth, the difference between the statement in the Earnings Release and the revised statement in this Current Report on Form 8-K is due to the fact that our 2009 non-GAAP presentation no longer includes other non-recurring items, which consisted of litigation reserves of $6.4 million previously included in our 2008 non-GAAP presentation.
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