(RTTNews) - Thursday, Internet infrastructure service provider VeriSign Inc. (VRSN: News ), reported a swing to profit for the second quarter, helped by strong revenue growth from its core businesses. Earnings, however, missed analysts' estimate by a cent, while revenues results exceeded expectations. Separately, the company announced the appointment of Mark McLaughlin as its chief executive officer and Brian Robins chief financial officer.

The Mountain View, California-based company reported second quarter net income attributable to the common stockholders of $ 34.87 million or $0.18 per share, compared to a loss of $69.18 million or $0.35 per share in the year-ago quarter.

Income from continuing operations for the quarter was $44.30 million or $0.23 per share, compared to a loss from continuing operations of $13.03 million or $0.07 per share in the same quarter last year.

Loss from discontinued operations for the quarter narrowed to $8.53 million or $0.04 per share, compared to a loss from discontinued operations of $55.16 million or $0.28 per share last year.

Excluding items, net income for its core businesses for the quarter was $61 million or $0.31 per share for the quarter.

On average, eighteen analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically excludes special items.

In the previous first quarter, VeriSign reported a net income of $65.02 million or $0.34 per share, compared to a net loss of $8.10 million or $0.04 per share last year. Excluding items, net income for its core businesses was $61 million or $0.32 per share for the quarter.
Revenues for the quarter increased to $256.62 million from $242.03 million in the prior-year quarter. Seventeen analysts had a revenue consensus of $255.16 million for the second quarter.

On a GAAP basis, VeriSign reported segment revenue for Internet Infrastructure and Identity Services, or the core businesses of Naming Services and Authentication Services, of $255 million, up 9% from $234.45 million year-over-year.

VeriSign's core business,Internet Infrastructure and Identity Services, consists of Naming Services, and Authentication Services comprising of Business Authentication and User Authentication.

Revenue from discontinued operations was $70 million while non-core businesses reported $1.4 million of revenue as part of continuing operations during the second quarter of 2009.

Commenting on the results, VeriSign's executive chairman and chief executive officer on an interim basis, Jim Bidzos said, "Under economic conditions that continue to make our environment a challenging one, we have delivered another successful quarter while, at the same time, refocusing the company. We continue to make progress with our divestiture program, with only two of thirteen businesses left to divest."

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