“Net revenue for the first quarter of 2012 increased 22% to a record $27.5 million from $22.6 million.”
“Net income for the first quarter of 2012 was $1.7 million, or $0.04 per share, compared with net income for the first quarter of 2011 of $0.7 million, or $0.01 per share. Net income for the first quarter of 2012 benefitted from other income of $0.5 million resulting from the sale of certain intangible assets with no book value.”
“Deferred revenue at the end of the first quarter of 2012 was $73.0 million, an increase of 12% from $64.9 million at the end of the first quarter of 2011 and $69.2 from the end of the fourth quarter of 2011.
“Cash and cash equivalents at the end of the first quarter of 2012 were $6.4 million compared with $4.2 million at the end of the first quarter of 2011 and relatively unchanged from the end of the fourth quarter of 2011. ”
“During the first quarter of 2012, the Company generated cash flow from operations of $2.1 million, as well as $0.5 million in cash proceeds from the aforementioned sale of intangible assets.”
” In addition, the Company utilized $4.0 million from its credit facility to partially fund the $5.9 million cost of the share repurchases under the modified Dutch auction tender completed in January of this year. The Company also used $0.5 million for principal repayments under its credit facility and invested $0.2 million in equipment purchases.
NOTE: Beginning in the first quarter of 2012, Tucows has reclassified its revenue streams into three distinct service offerings:
Wholesale, Retail and Portfolio. The realignment is intended to better reflect the manner in which these revenue streams are generated and assessed by management.
YummyName.com sales seem to be now listed under “portfolio”.
Tucows shows $1,891,000 in Domain sales in the 1st quarter up from $1,554,000 in the 1st Q of 2011.
“The first quarter of 2012 was a solid Tucows quarter – growth across all areas of our business, strong cash generation from operations, consistency and reliability,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “We generated growth in revenue and gross margin far in excess of the growth in operating expenses, demonstrating the leverage in our business. We think that consistent growth and continued leverage will serve us well throughout 2012.”
Tucows does not trade after hours so we will have to see how the market reacts tomorrow.
Tucows was down $.10 in trading today
