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| VRSN > SEC Filings for VRSN > Form 8-K on 24-Jan-2013 | All Recent SEC Filings |
24-Jan-2013
Results of Operations and Financial Condition, Financial Statements and Exhibits
On January 24, 2013, VeriSign, Inc. ("Verisign" or the "Company") announced its
financial results for the fiscal quarter and year ended December 31, 2012, and
certain other information. A copy of this press release is attached hereto as
Exhibit 99.1.
The information in this Item 2.02 of Form 8-K and the Exhibit attached hereto
shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
Use of Non-GAAP Financial Information
Verisign provides quarterly and annual financial statements that are prepared in
accordance with generally accepted accounting principles (GAAP). Along with this
information, we typically disclose and discuss certain non-GAAP financial
information in our quarterly earnings releases, on investor conference calls and
during investor conferences and related events. This non-GAAP financial
information does not include the following types of financial measures that are
included in GAAP: discontinued operations, stock-based compensation,
amortization of other intangible assets, impairments of goodwill and other
intangible assets, restructuring charges, contingent interest payments to
holders of our Convertible Debentures, unrealized gain/loss on contingent
interest derivative on Convertible Debentures, and non-cash interest expense.
Non-GAAP financial information is also adjusted for a 28 percent tax rate
starting from the third quarter of 2012 and 30 percent for all other periods
presented herein, both of which differ from the GAAP tax rate. All non-GAAP
figures for each period presented in Exhibit 99.1 have been conformed to exclude
the foregoing items under GAAP.
Management believes that this non-GAAP financial data supplements our GAAP
financial data by providing investors with additional information that allows
them to have a clearer picture of the Company's operations. The presentation of
this additional information is not meant to be considered in isolation nor as a
substitute for results prepared in accordance with GAAP. We believe that the
non-GAAP information enhances the investors' overall understanding of our
financial performance and the comparability of the Company's operating results
from period to period. In the press release attached hereto as Exhibit 99.1, we
have provided a reconciliation of the non-GAAP financial information that we
provide each quarter with the comparable financial information reported in
accordance with GAAP for the given period.
(d) Exhibits
Exhibit Number Description 99.1 Text of press release of VeriSign, Inc. issued on January 24, 2013. |
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