Domain Name Wholesaler, Tucows, Reports Profitability
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Toronto, Ontario, Canada - (via THE HOSTING NEWS) - August 5, 2005 - Tucows Inc. has reported continued strong results for the second quarter of fiscal 2005, ended June 30, 2005. These results mark the twelfth consecutive quarter of profitability and fifteenth consecutive quarter of positive cash flow from operations for the company.
Highlights for the second quarter included:
- A 13% year-over-year increase in net revenue to $12.0 million, the company’s second highest quarterly revenue;
- Income from operations of $0.4 million;
- Cash flow from operations of $1.5 million;
- Net income of $0.5 million, the Company’s twelfth consecutive quarter of profitability; and
- An 11% year-over-year increase in deferred revenue to a record $36.6 million.
Elliot Noss, President and Chief Executive Officer, Tucows Inc. summed up the quarterly results, ”We continue to be successful in the execution of our strategy to build upon our dominant position in the wholesale domain market by adding higher margin services that address high growth segments of the Internet such as blogging. Moving forward, in addition to pursuing continued growth in our domain business, we are focused on generating sales from our new ancillary services, to grow their contribution to both revenue and gross margin.”
Tucows Inc. is a provider of Internet services and downloadable software through a global distribution network of more than 6,000 service providers.
Tucows is an accredited registrar with the Internet Corporation for Assigned Names and Numbers, or ICANN, and generates revenue primarily through the provision of domain registration and other Internet services to service providers who offer such services to their own customers in a process known as wholesale distribution. For more information, please visit: www.tucowsinc.com.
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