Toronto, Ontario, Canada – (The Hosting News) – November 9, 2005 – Domain name wholesaler, Tucows Inc., has reported continued strong results for the third quarter of fiscal 2005, ended September 30, 2005.
Highlights for the third quarter included:
– A 7% year-over-year increase in net revenue to a record $12.1 million (excluding the impact of the one-time accounting transaction in the third quarter of fiscal 2004)
– Income from operations of $0.7 million;
– Net income of $0.8 million, the Company’s thirteenth consecutive quarter of profitability;
– Cash flow from operations of $0.8 million, the Company’s sixteenth consecutive quarter of positive cash flow from operations; – A 15% year-over-year increase in deferred revenue to a record $37.3 million.
Elliot Noss, President and CEO of Tucows commented on the financial results, ”Our strong third quarter performance in our first quarter of operation on the AMEX and TSX exchanges continues our history of profitability, cash generation and growth. As always, this is driven by our position as the preferred supplier to web hosting companies and Internet service providers. As we move forward, we are firmly focused on growing the contribution from services like blogware and messaging to both revenue and gross margin. At the same time, we are continuing to pursue growth in our core domain business.”
To view financial details, access an archived investor conference call discussing the company’s latest results, or to learn more about Tucows, please visit: www.tucowsinc.com.