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VeriSign Management Discusses Q2 2012 Results - Earnings Call Transcript

On June 23, 2012, ICANN approved the renewal of VeriSign's agreement to service the operator of the .com registry for the term commencing on December 1, 2012, through November 30, 2018. As you may know, the .com renewal agreement terms, including the pricing provisions, are substantially the same as the terms contained in the existing agreement, except for new provisions regarding indemnification and audit rights.

The U.S. Department of Commerce, under an agreement called the Cooperative Agreement, is now reviewing the renewal of the .com registry agreement. We expect their approval on the renewal of the .com agreement by November 30.

During the month of July, we marked 15 years of uninterrupted uptime for the .com and .net zone infrastructure. This is a tremendous achievement and I would like to recognize the efforts of our engineering and operation teams for meeting this milestone. We continue to make protecting our DNS infrastructure a priority, while continuing to meet and exceed requirements of our service-level agreements.

I'll comment now on second quarter operating highlights. In our Naming business, the base of registered names in .com equaled 103.7 million names, while .net equaled 14.8 million names. The total base of registered names in common net was approximately 118.5 million at the end of June. This represents increases of 7.8% year-over-year and 1.6% quarter-over-quarter.

In the second quarter, we added 1.81 million net names to the domain name base and we processed 8.4 million new registrations or a 4.2% increase in new registrations over the same period a year ago.

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