VeriSign Completes Restatement of Financial
Statements
MOUNTAIN VIEW, CA – July 16, 2007 — VeriSign, Inc. (Nasdaq:
VRSN) announced today that it has filed with the SEC its quarterly report
on Form 10-Q for the first quarter of 2007. This is the final report
to contain financial statements that were restated as a result of an
independent review by an ad hoc group of independent Directors of VeriSign’s
Board of Directors into VeriSign’s historical stock option grant practices and
includes adjustments to consolidated financial statements for the years
ended December 31, 2005, 2004, 2003 and 2002.
The Company is now current with its SEC filing requirements.
Additional financial information for the first quarter of 2007 is available
on the Company’s investor relations website at http://investor.verisign.com.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN), operates digital infrastructure services
that enable and protect billions of interactions every day across the
world’s voice, video and data networks. Additional news and information
about the company is available at www.verisign.com.
VRSNF
Contacts
Media Relations: Lisa Malloy, emalloy@verisign.com,
202-270-7600
Investor Relations: Nancy Fazioli, ir@verisign.com,
650-426-5146
Trademarks
VeriSign and other trademarks, service marks and logos are registered
or unregistered marks of VeriSign, Inc. and its subsidiaries in the
United States and in foreign countries.
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Statements in this announcement other than historical
data and information constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks
and uncertainties that could cause VeriSign’s actual results to differ
materially from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, the fact
that the Securities and Exchange Commission (SEC) inquiry relating to
the Company’s stock option accounting is ongoing and that the SEC inquiry
may require further adjustments to the Company’s financial statements;
the risk that the matters described in this press release could divert
management’s attention from operations; and the fact that expenses arising
from the independent review and SEC inquiry, the restatement, related
litigation and other associated activities are expected to be significant.
More information about potential factors that
could affect the Company’s business and financial results is included
in VeriSign’s filings with the Securities and Exchange Commission, including
in the company’s Annual Report on Form 10-K for the year ended December 31,
2006 and quarterly reports on Form 10-Q and current reports on Form
8-K. VeriSign undertakes no obligation to update any of the forward-looking
statements after the date of this press release.
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