Tucows Reports: Revenue Up 11%; Sells $1.3 Million In Domains & Swings To A Profit

Tucows.com (AMEX:TCX) reported earnings after the market closed today.

Here are some of the highlights from the earnings report and the Earnings Call from this afternoon:

“Revenue grew by almost 11% year-over-year to a record $23 million.”

“Net revenue for the second quarter of 2011 increased 10.6% to $23.0 million from $20.8 million for the second quarter of 2010.”

“Net income for the second quarter of 2011 was $0.6 million, or $0.01 per share, compared with a loss of $0.8 million, or $0.01 per share, for the second quarter of 2010.”

“Total domain transaction volume for the quarter were up 15% to just over two million domain registrations.

New registrations were up 21% excluding  “the impact of two customers that became registrars on their own earlier this year.”

“Renewals were up 15% and our renewal rate held steady at a level that remains well above the industry average. ”

“This growth in transaction push domains under management at the end of the quarter up 10% for the same period last year exceeding 11 million names for the first time.”

Cash and cash equivalents at the end of the second quarter of 2011 were $4.3 million compared with $4.1 million at the end of the second quarter of 2010 and $4.2 million at the end of first quarter of 2011.

YummyNames sold $1.295 Million in domain names in the 2nd Quarter down slightly from $1.6 Million in the same quarter last year.

Tucows.com does not trade after hours so we will have to wait until tomorrow to see how the market liked the report