Publish date:

VeriSign Boosts Sales

But the company does not give earnings for the quarter because of ongoing restatement issues.
Author:

VeriSign

(VRSN) - Get VeriSign, Inc. Report

beat first-quarter revenue estimates late Wednesday, but did not give detailed earnings because the company has yet to complete its restatement of certain financial statements.

For the quarter ended March 31, the Internet infrastructure company reported sales of $379 million compared with $373 million for the first quarter of 2006, beating the $377.8 million target set by analysts surveyed by Thomson First Call.

TheStreet Recommends

CFO Dana Evan said that future growth continues to be fueled by "strong performance in our core Registry and SSL businesses."

The Mountain View, Calif.-based company said previously that it would need to restate financial statements for the years 2002 to 2005 and for the first quarter of 2006 to record additional expenses.

Shares of VeriSign closed the regular session up a quarter at $27.03; after hours, shares recently lost 2 cents.