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MOUNTAIN VIEW, Calif. (AP) - VeriSign Inc., which runs some of the Internet's core systems, said Thursday it swung to a first-quarter profit, hurt by asset impairment and restructuring charges.
| VRSN | 40.26 |  -0.55 |
For the three months ended March 31, the company posted a loss of $18.6 million, or 9 cents per share, down from a profit of $61.8 million, or 25 cents per share, in the same period a year earlier. Excluding impairment charges of $25.5 million and a restructuring charge of $26.5 million, the company earned $44 million, or 21 cents per share, in the latest quarter.
Revenue rose 8 percent to $354.3 million from $328.5 million. The company's revenue for its core business was $223 million.
Analysts, on average, were predicting a profit of 20 cents per share, excluding items, on sales of $217.6 million, according to a poll by Thomson Financial.
Shares rose 19 cents to close at $36.76.
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