Hurt primarily by a $109 million charge, VeriSign (NASDAQ:VRSN) swung to a fourth-quarter loss over a year-ago profit, but its revenue climbed on an increase in domain names.
The Dulles, Va-based company posted net income of $40.5 million, or 23 cents a share, compared with a profit of $92 million, or 48 cents a share, in the same quarter last year.
Excluding onetime items, VeriSign earned 31 cents a share, narrowly ahead of average analyst estimates of 30 cents.
Revenue for the provider of Internet infrastructure and security services was $179 million, up 4% from $158.7 million a year ago, beating the Street’s view of $177.42 million.
“We are pleased with our performance this quarter, capping a strong year of execution in which the business continued to benefit from favorable internet trends,”" said VeriSign CEO Mark McLaughlin.
VeriSign, which employees 1,050 people, ended the quarter with roughly 105.2 million active domain names in the adjusted zone for .com and .net, representing a 9% year-over-year increase. Last quarter, the company added 7.6 million new domain name registrations, up 4%.
For the full-year, VeriSign processed more than 22 trillion total queries through its infrastructure, compared to 18 trillion in 2009. Average daily query load was also higher, up to 61 billion from 52 billion in the year-earlier.