TUCOWS INC /PA/ TCX Income Statement

Tucows inc /pa/ (TCX)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Net revenues (note 10)
342,177	337,145	336,811	332,201	329,171	346,013	351,022	352,511	355,647	329,421	287,603	251,660	214,640	189,819	185,076	180,279	175,965	171,686	165,268	159,875	152,574	146,508	142,004	138,766	134,352	129,934	126,586	120,195	117,174	114,726	111,305	107,153	102,047	97,064	91,904	87,657	0	0	0
Cost of revenues (note 10)
Cost of revenues
218,835	217,579	216,086	215,435	215,063	232,103	239,691	245,317	250,261	230,600	200,228	170,343	140,690	120,187	118,635	116,507	114,966	112,980	110,613	107,880	104,365	101,861	98,644	96,927	95,199	92,960	91,358	88,535	85,648	82,837	79,343	75,555	71,660	68,088	64,482	61,060	0	0	0
Network expenses
9,211	9,190	9,290	9,351	9,667	9,846	9,848	9,994	9,554	9,324	8,349	7,176	6,320	5,210	5,251	5,385	5,475	5,464	5,264	4,983	4,633	4,554	4,547	4,600	4,725	4,835	5,011	4,978	4,922	4,925	4,775	4,810	4,831	4,837	4,779	4,805	0	0	0
Depreciation of property and equipment
9,551	8,475	7,670	6,778	5,968	5,298	4,712	4,196	3,682	3,142	2,470	1,926	1,563	1,320	1,317	1,363	1,292	1,144	974	822	716	699	704	696	673	627	604	597	601	611	601	603	661	750	840	934	0	0	0
Amortization of intangible assets
1,304	1,124	1,301	1,486	1,671	1,996	1,996	1,996	1,952	1,834	1,345	860	416	48	48	46	46	38	0	0	0	-	-	-	-	83	119	143	143	143	143	131	102	85	124	175	0	0	0
Total cost of revenues
238,901	236,368	234,347	233,050	232,369	249,243	256,249	261,505	265,451	244,900	212,394	180,307	148,991	126,765	125,253	123,302	121,779	119,628	116,879	113,701	109,719	107,115	103,896	102,236	100,646	98,508	97,094	94,254	91,315	88,517	84,863	81,101	77,255	73,762	70,226	66,975	0	0	0
Gross profit
103,276	100,777	102,464	99,151	96,802	96,770	94,773	91,006	90,196	84,521	75,209	71,352	65,649	63,054	59,823	56,977	54,185	52,057	48,389	46,173	42,855	39,393	38,108	36,530	33,706	31,426	29,492	25,940	25,859	26,209	26,442	26,052	24,791	23,302	21,677	20,681	0	0	0
Expenses:
Sales and marketing
34,514	34,270	34,800	34,443	33,439	33,063	32,001	30,973	30,568	29,423	27,630	25,726	23,509	20,755	19,404	18,442	18,060	17,394	16,022	15,098	14,013	14,235	14,726	14,131	13,315	12,141	11,205	10,244	9,363	8,701	8,066	7,896	7,602	7,442	7,494	7,414	0	0	0
Technical operations and development
9,945	9,717	10,242	9,573	9,176	8,748	8,512	8,215	7,658	7,258	6,452	5,812	5,012	4,495	4,542	4,374	4,565	4,502	4,472	4,411	4,330	4,305	4,299	4,474	4,114	4,158	4,170	3,966	4,323	4,302	4,446	4,656	4,782	4,868	4,705	4,674	0	0	0
General and administrative
18,173	17,880	18,622	18,168	17,628	17,710	16,376	15,637	14,666	13,594	14,030	12,815	12,457	11,405	10,333	10,774	10,598	10,661	10,903	11,023	10,159	9,459	8,638	7,780	7,593	7,523	6,859	6,476	6,525	6,610	6,495	6,620	6,316	6,096	5,252	4,241	0	0	0
Depreciation of property and equipment
475	486	490	479	447	424	407	456	519	585	661	685	597	504	403	288	273	259	243	238	229	226	224	218	220	215	209	203	193	190	186	188	188	187	180	175	0	0	0
Loss on disposal of property and equipment
-	-	0	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets (note 6)
10,290	9,209	8,452	7,705	7,281	7,247	7,287	7,236	7,017	6,566	5,026	3,559	2,228	905	670	447	227	224	218	268	430	596	764	876	876	876	876	876	876	876	876	858	916	1,004	1,146	1,305	0	0	0
Impairment of indefinite life intangible assets (note 5)
-	-	-	-	-	-	-	-	-	-	0	-	-	43	165	180	214	206	68	50	338	577	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on currency forward contracts (note 5)
-322	198	-142	-95	-178	-254	-39	-12	66	98	117	40	22	99	-13	-344	-378	-792	-241	-39	-110	-357	-802	-623	-673	-357	-463	123	-113	682	1,632	-828	-327	-535	-1,232	-1,311	0	0	0
Total expenses
73,792	71,437	72,821	70,463	68,149	67,446	64,732	62,641	60,475	57,439	53,702	48,577	43,803	38,007	35,532	34,852	34,318	34,041	32,171	31,130	29,611	29,758	30,032	28,681	27,044	25,272	23,904	21,762	21,516	20,117	18,480	21,090	20,175	20,176	20,012	19,123	0	0	0
Income from operations
29,484	29,340	29,643	28,688	28,653	29,324	30,040	28,364	29,720	27,082	21,506	22,775	21,845	25,047	24,290	22,124	19,867	18,016	16,217	15,043	13,243	9,635	8,075	7,848	6,661	6,154	5,588	4,178	4,342	6,091	7,961	4,962	4,615	3,126	1,665	1,558	0	0	0
Other income (expenses):
Interest expense, net
-4,947	-4,769	-4,475	-4,126	-3,763	-3,687	-3,626	-3,576	-3,595	-3,567	-2,850	-2,121	-1,271	-450	-299	-243	-180	-159	-161	-145	-157	-206	-289	-305	-329	-354	-318	-290	-251	-192	-157	-125	-79	-50	-65	-80	0	0	0
Other income, net
0	-	-	-	-	518	230	403	555	560	639	612	516	516	473	343	214	85	0	0	0	-	-	-	-	-	-	-	-	529	529	529	560	374	0	0	0	-	0
Total other income (expenses)
-5,034	-4,769	-4,138	-3,805	-3,369	-3,169	-3,395	-3,172	-3,039	-3,007	-2,211	-1,509	-755	66	173	99	34	-73	-161	-145	-157	-206	-289	-305	-329	-354	-318	-290	-230	336	372	404	480	324	309	294	0	0	0
Income before provision for income taxes
24,450	24,571	25,505	24,883	25,284	26,155	26,644	25,191	26,680	24,075	19,295	21,266	21,090	25,113	24,464	22,224	19,901	17,942	16,056	14,897	13,085	9,428	7,785	7,543	6,331	5,799	5,269	3,888	4,112	6,428	8,334	5,366	5,096	3,450	1,974	1,852	0	0	0
Provision for income taxes (note 8)
9,017	9,173	11,448	9,685	9,094	9,020	2,748	3,201	3,056	1,748	5,350	6,020	7,014	9,046	8,119	7,460	6,923	6,569	5,918	5,228	4,354	3,054	2,347	2,203	1,751	1,619	1,582	1,159	1,275	2,004	-1,715	-1,870	-2,009	-2,719	775	247	0	0	0
Net income before redeemable non-controlling interest
-	-	14,057	15,198	-	17,135	23,896	21,990	23,624	22,327	13,945	15,246	14,075	16,067	16,345	14,763	12,978	11,373	10,969	9,157	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable non-controlling interest
-	-	-	-	-	26	101	170	287	387	484	669	825	871	863	700	476	284	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to redeemable non-controlling interest
-	-	-	-	-	26	101	170	287	387	484	669	825	871	863	700	476	284	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income for the period
15,433	15,398	14,057	15,198	16,190	17,135	23,896	21,990	23,624	22,327	13,945	15,246	14,075	16,067	16,345	14,763	12,978	11,373	10,137	9,669	8,731	6,374	5,437	5,340	4,580	4,180	3,687	2,728	2,837	4,424	10,049	7,236	7,105	6,170	1,198	1,604	0	0	0
Other comprehensive income, net of tax
Unrealized income (loss) on hedging activities (note 5)
-682	1,101	-296	23	-490	-1,022	-200	-35	380	550	689	322	206	568	230	-434	-500	-2,031	-2,154	-1,867	-1,544	-1,004	-1,021	-181	-727	-470	0	0	0	-	-	-	-	-	-	-	-	-	-
Net amount reclassified to earnings (note 5)
-164	-182	-230	-217	0	-	0	0	-	650	321	-128	-224	-641	-916	-1,148	-1,441	-1,544	-1,371	-1,064	-837	-626	-522	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
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)
-518	1,283	7	363	-217	-810	-358	-574	-188	-100	368	450	431	1,209	1,147	714	941	-487	-783	-803	-706	-377	-501	372	-318	-289	0	0	0	-	-	-	-	-	-	-	-	-	-
Comprehensive income, net of tax for the period
14,915	16,681	14,064	15,561	15,973	16,325	23,537	21,415	23,435	22,227	14,313	15,696	14,506	17,276	17,492	15,477	13,919	10,886	9,354	8,865	8,024	5,996	4,936	5,712	4,261	3,891	3,778	2,326	2,695	4,468	0	0	0	-	-	-	-	-	-
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