Tucows inc /pa/ (TCX)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Net revenues (note 10)

83,985

85,946

88,129

84,117

78,953

85,612

83,519

81,087

95,795

90,621

85,008

84,223

69,568

48,804

49,064

47,203

44,746

44,062

44,267

42,889

40,467

37,644

38,874

35,588

34,402

33,139

35,637

31,173

29,985

29,790

29,246

28,152

27,537

26,369

25,094

23,045

22,555

21,209

20,846

Cost of revenues (note 10)
Cost of revenues

53,188

55,018

55,756

54,873

51,932

53,525

55,105

54,501

68,972

61,113

60,731

59,445

49,310

30,741

30,846

29,792

28,806

29,190

28,718

28,250

26,821

26,822

25,985

24,736

24,316

23,605

24,268

23,007

22,077

22,003

21,446

20,120

19,267

18,509

17,658

16,224

15,695

14,903

14,236

Network expenses

2,416

2,156

2,254

2,385

2,395

2,256

2,315

2,701

2,574

2,258

2,461

2,261

2,343

1,284

1,287

1,404

1,232

1,326

1,421

1,494

1,222

1,126

1,139

1,144

1,143

1,119

1,192

1,269

1,254

1,295

1,158

1,213

1,256

1,145

1,193

1,235

1,262

1,087

1,219

Depreciation of property and equipment

2,877

2,405

2,231

2,038

1,801

1,600

1,339

1,228

1,131

1,014

823

714

590

343

278

350

346

341

324

279

199

170

172

173

182

175

164

151

137

151

157

155

147

141

159

213

236

231

253

Amortization of intangible assets

354

322

314

314

174

499

499

499

499

499

499

455

380

11

13

11

11

11

11

11

3

-

-

-

-

0

11

35

35

35

35

35

35

35

23

6

19

74

74

Total cost of revenues

58,835

59,901

60,555

59,610

56,302

57,880

59,258

58,929

73,176

64,886

64,514

62,875

52,624

32,381

32,426

31,559

30,397

30,869

30,475

30,036

28,247

28,119

27,297

26,054

25,643

24,900

25,637

24,464

23,505

23,486

22,798

21,525

20,707

19,832

19,035

17,679

17,213

16,297

15,783

Gross profit

25,150

26,045

27,574

24,507

22,651

27,732

24,261

22,158

22,619

25,735

20,494

21,348

16,943

16,423

16,637

15,644

14,348

13,192

13,792

12,852

12,220

9,524

11,576

9,533

8,759

8,238

9,999

6,708

6,479

6,304

6,447

6,626

6,829

6,537

6,058

5,365

5,341

4,911

5,062

Expenses:
Sales and marketing

8,985

7,904

8,769

8,856

8,741

8,434

8,412

7,852

8,365

7,372

7,384

7,447

7,219

5,580

5,479

5,230

4,465

4,229

4,517

4,847

3,799

2,857

3,593

3,762

4,021

3,348

2,998

2,946

2,847

2,413

2,037

2,065

2,184

1,778

1,867

1,771

2,024

1,830

1,786

Technical operations and development

2,751

1,566

2,876

2,752

2,523

2,091

2,207

2,355

2,095

1,855

1,910

1,798

1,694

1,049

1,270

998

1,176

1,097

1,101

1,189

1,114

1,067

1,041

1,107

1,089

1,061

1,215

748

1,133

1,073

1,010

1,105

1,113

1,216

1,220

1,231

1,199

1,053

1,189

General and administrative

4,741

4,062

4,574

4,796

4,448

4,804

4,120

4,256

4,530

3,470

3,381

3,285

3,457

3,907

2,166

2,926

2,404

2,835

2,607

2,750

2,468

3,077

2,727

1,886

1,767

2,256

1,869

1,698

1,698

1,592

1,486

1,748

1,783

1,477

1,611

1,443

1,563

633

600

Depreciation of property and equipment

113

111

117

134

124

115

106

102

101

98

155

165

166

175

178

76

73

74

63

62

59

58

58

52

56

56

52

54

50

50

46

45

47

46

48

45

46

40

43

Loss on disposal of property and equipment

-

-

-73

-

-

-

-

-

-

-

-

-2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets (note 6)

2,947

2,548

2,544

2,251

1,866

1,791

1,797

1,827

1,832

1,831

1,746

1,608

1,380

291

279

276

56

56

56

56

53

51

107

219

219

219

219

219

219

219

219

219

219

219

201

277

306

360

360

Impairment of indefinite life intangible assets (note 5)

-

-

-

-

-

-

-

-

-

-

2

-

-

15

2

3

20

137

18

37

12

0

0

326

250

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on currency forward contracts (note 5)

-441

108

-20

31

79

-232

27

-52

3

-17

54

27

34

2

-22

8

110

-110

-352

-25

-304

440

-150

-96

-551

-3

28

-146

-234

-110

615

-383

562

838

-1,845

117

354

141

-1,924

Total expenses

19,978

16,083

18,973

18,758

17,623

17,467

16,615

16,444

16,920

14,753

14,524

14,278

13,883

11,016

9,398

9,504

8,086

8,542

8,719

8,969

7,810

6,672

7,678

7,450

7,956

6,946

6,327

5,814

6,184

5,578

4,185

5,568

4,785

3,941

6,795

4,653

4,786

3,777

5,906

Income from operations

5,172

9,962

8,601

5,749

5,028

10,265

7,646

5,714

5,699

10,981

5,970

7,070

3,060

5,406

7,238

6,140

6,261

4,650

5,072

3,882

4,410

2,851

3,898

2,082

802

1,292

3,672

894

295

725

2,262

1,058

2,044

2,595

-736

712

554

1,134

-843

Other income (expenses):
Interest expense, net

-1,150

-1,220

-1,263

-1,314

-972

-926

-914

-951

-896

-865

-864

-970

-867

-148

-135

-120

-46

2

-78

-57

-24

-0

-63

-69

-73

-83

-78

-93

-99

-47

-50

-54

-40

-11

-18

-8

-11

-26

-33

Other income, net

-87

-

-

-

-

337

-16

73

124

49

157

225

128

128

130

128

128

85

0

0

0

-

-

-

-

-

-

-

-

0

0

20

508

0

0

51

323

-

0

Total other income (expenses)

-1,237

-1,220

-1,263

-1,314

-972

-589

-930

-878

-772

-815

-707

-745

-739

-19

-5

8

82

87

-78

-57

-24

-0

-63

-69

-73

-83

-78

-93

-99

-47

-50

-33

467

-11

-18

42

311

-26

-33

Income before provision for income taxes

3,935

8,742

7,338

4,435

4,056

9,676

6,716

4,836

4,927

10,165

5,263

6,325

2,321

5,386

7,233

6,148

6,343

4,738

4,993

3,825

4,385

2,851

3,834

2,013

728

1,208

3,593

801

196

678

2,212

1,025

2,512

2,584

-755

755

866

1,108

-877

Provision for income taxes (note 8)

1,101

2,964

3,133

1,819

1,257

5,239

1,370

1,228

1,183

-1,032

1,823

1,083

-125

2,569

2,492

2,077

1,905

1,643

1,834

1,540

1,551

992

1,143

665

251

286

999

213

119

248

577

329

848

-3,470

422

189

138

24

-105

Net income before redeemable non-controlling interest

-

-

4,205

2,616

-

4,437

5,346

3,608

3,744

11,198

3,440

5,242

2,446

2,816

4,741

4,070

4,438

3,095

3,159

2,284

2,833

-

2,690

1,347

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redeemable non-controlling interest

-

-

-

-

-

0

0

0

26

75

69

117

125

172

254

273

170

164

91

49

-21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to redeemable non-controlling interest

-

-

-

-

-

0

0

0

26

75

69

117

125

172

254

273

170

164

91

49

-21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income for the period

2,834

5,778

4,205

2,616

2,799

4,437

5,346

3,608

3,744

11,198

3,440

5,242

2,446

2,816

4,741

4,070

4,438

3,095

3,159

2,284

2,833

1,859

2,690

1,347

476

922

2,593

587

76

429

1,635

695

1,663

6,054

-1,178

565

727

1,083

-771

Other comprehensive income, net of tax
Unrealized income (loss) on hedging activities (note 5)

-1,234

487

-175

240

549

-910

144

-273

17

-88

309

143

186

51

-58

27

547

-285

-724

-38

-983

-408

-437

285

-442

-426

402

-260

-185

-

-

-

-

-

-

-

-

-

-

Net amount reclassified to earnings (note 5)

-43

-15

-26

-80

-61

-

-63

-13

-

234

318

17

80

-94

-131

-79

-335

-369

-364

-371

-438

-196

-57

-145

-227

-

-92

-

-

-

-

-

-

-

-

-

-

-

-

Other comprehensive income (loss) net of tax (expense) recovery of $366 and ($194) for the periods ended March 31, 2020 and March 31, 2019, respectively (note 5)

-1,191

502

-149

320

610

-774

207

-260

17

-322

-9

126

105

145

73

106

883

83

-360

333

-544

-212

-379

430

-215

-336

494

-260

-185

-

-

-

-

-

-

-

-

-

-

Comprehensive income, net of tax for the period

1,643

6,280

4,056

2,936

3,409

3,663

5,553

3,348

3,761

10,875

3,431

5,368

2,552

2,962

4,814

4,177

5,321

3,179

2,799

2,618

2,289

1,646

2,311

1,777

261

586

3,087

326

-109

473

1,635

695

1,663

-

-

-

-

-

-

Basic earnings per common share (note 9) (in dollars per share)

0.27

0.54

0.40

0.25

0.26

0.43

0.50

0.34

0.35

1.06

0.33

0.50

0.23

0.27

0.45

0.39

0.42

0.29

0.29

0.21

0.25

0.17

0.24

0.12

0.04

0.09

0.24

0.06

0.01

0.29

0.04

0.02

0.04

0.46

-0.02

0.01

0.01

0.02

-0.01

Shares used in computing basic earnings per common share (note 9) (in shares)

10,612

10,576

10,626

10,657

10,634

10,621

10,611

10,597

10,588

10,582

10,564

10,528

10,474

10,450

10,432

10,541

10,674

10,699

10,984

11,047

11,142

11,314

11,321

11,219

11,028

10,913

10,795

10,080

10,082

-91,395

45,094

45,912

46,221

-106,880

53,452

53,444

53,437

57,351

59,193

Diluted earnings per common share (note 9) (in dollars per share)

0.26

0.54

0.39

0.24

0.26

0.41

0.50

0.33

0.35

1.03

0.32

0.49

0.23

0.26

0.45

0.38

0.41

0.28

0.28

0.20

0.24

0.16

0.23

0.11

0.04

0.08

0.23

0.05

0.01

0.29

0.03

0.01

0.03

0.44

-0.02

0.01

0.01

0.02

-0.01

Shares used in computing diluted earnings per common share (note 9) (in shares)

10,713

10,669

10,745

10,840

10,835

10,786

10,794

10,803

10,792

10,819

10,785

10,793

10,776

10,639

10,619

10,733

10,861

11,030

11,372

11,456

11,580

11,764

11,787

11,729

11,639

11,568

11,409

11,069

11,077

-97,680

48,411

49,449

48,954

-109,247

53,452

55,796

55,747

59,185

59,193