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Here were the comments from VeriSign (ticker: VRSN) CEO Stratton Sclavos and CFO Dana Evan on the company's Q2 conference call that torpedoed their stock:

Stratton Sclavos:

…Q3 will be a tough compare to Q1 and Q2 due to seasonality in Europe, a full quarter's impact of a stronger dollar, and the lack of any new carriers or countries added in the second quarter. Although this will lead to a sequential decline in the mobile content revenues, the organic year-over-year growth rate for Q3 will still be over 90%. We do expect revenues to trend up again sequentially in the fourth quarter.

As it relates to the US, we're still hopeful that we will be able to turn on one -- at least one of the other major Tier 1s before the end of the year…

…once we launch in a country it is generally one to two quarters until we see the revenue ramp up because we've gone through a billing cycle and the rest. We're launching several countries this quarter. So that gives us some confidence that Q4 or Q1 will see some uptick.

Dana Evan:

...for Q3 we're forecasting total revenues in a range of approximately 435-440 million… in the Content business we have factored in the adverse seasonality that Stratton just spoke about, as well as the foreign currency effects I just discussed.

(Quotes are from the CCBN StreetEvents transcript.)

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Source: VeriSign's torpedo (2Q05 VRSN conf call quotes)