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TheDomains.com

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

August 10, 2011 by Michael Berkens

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

Filed Under: Publicly Traded Domain Co

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

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