VeriSign Inc, the Mountain View, California-based public-key infrastructure and digital certificate company has reported first quarter net losses of $2.0m, down from $4.7m a year ago. That translates into losses of $0.08 per share, which is two cents better than the Street expected, according to First Call. Revenues in the quarter rose 133.8% from the year-ago quarter to $15.6m. The company points out that deferred revenue, which sits on the liabilities side of the balance sheet, increased to $16.0m from $13.1m. It consist mostly of unamortized subscriber fees. During the quarter the company sold more than 23,000 web site certificates, which is a 128% increase over the previous quarter, making around 125,000 certificates sold in total. It added 100 corporate customers for its OnSite managed PKI and digital certificate services. Cash at the end of the quarter was $109.0m, boosted by the issue of 1.6 million shares, which raised $121.4m after expenses. The stock will split two-for-one on May 28 for those on the register on May 14.
