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Verisign reports 19 million in losses for first quarter
MOUNTAIN VIEW, Calif. (5/12/08)--Verisign announced a net loss of $19 million in the first quarter of 2008, according to a statement released Thursday. The company reported revenue of $354 million for the first quarter of this year. Generally accepted accounting practices (GAAP) results indicated a $25.5 million loss on assets for sale, and a loss of $26.5 million for continuing and discontinued operations in a restructuring. Non-GAAP results indicated a net income of $44 million for the first quarter of 2008. Revenue for Versign core businesses was $223 million, up 5% from the fourth quarter of 2007. During first quarter 2008, VeriSign also announced that more than 100 credit unions have gone live on its Encrypted and Extended Validation SSL certificates (EV SSL). Verisign provides infrastructure services for voice, video and data networks at financial institutions, including credit unions.


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