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Tucows Inc (TCX) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Tucows Inc

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CIK: 909494 Ticker: TCX

Exhibit 99.1

 

 

Tucows Reports Continuing Strong Financial Results for Fourth Quarter and Full Year 2018

 

– 2018 Highlighted by Record Revenue, Adjusted EBITDA2 and Cash Flow from Operations –

 

 

TORONTO, February 13, 2019

– Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the fourth quarter ended December 31, 2018. All figures are in U.S. dollars.

 

Summary Financial Results

(In Thousands of US Dollars, Except Per Share Data)

 

   

3 Months Ended December 31

 

    

12 Months Ended December 31

 

  
   

2018

(Unaudited)

    

2017

(Unaudited)

    

% Change

    

2018

(Unaudited)

    

2017

(Unaudited)

    

% Change

  

Net revenue

     85,612       90,621       -6 %     346,013       329,421       5 %

Net income1

     4,436       11,199       -60 %     17,135       22,327       -23 %

Basic Net earnings per common share1

     0.42       1.06       -60 %     1.62       2.12       -24 %

Adjusted EBITDA2,3

     16,633       15,276       9 %     50,057       41,357       21 %

Net cash provided by operating activities

     10,668       14,081       -24 %     37,209       31,896       17 %

 

 

 

1.

Net Income and Earnings Per Share for the fourth quarter and Fiscal 2017 reflected a net positive implementation impact from the Tax Cuts and Jobs Act of 2017 of $5.8 million and $0.55 per share, respectively.
 

2.

This Non-GAAP financial measure is described below and reconciled to GAAP net income in the accompanying table.
 

3.

Adjusted EBITDA for the fourth quarter and twelve month period of 2017 reflect the impact of the purchase price accounting adjustment related to the fair value write down of deferred revenue from the Enom acquisition which lowered Adjusted EBITDA by $0.8 million and $7.8 million for the fourth quarter and twelve months of 2017, respectively.

 

 
The following information was filed by Tucows Inc (TCX) on Thursday, February 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Tucows Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parentheticals)
Consolidated Statements Of Stockholders' Equity
Note 1 - Organization Of The Company
Note 10 - Revenue
Note 10 - Revenue (Details Textual)
Note 10 - Revenue (Tables)
Note 10 - Revenue - Contract Balances (Details)
Note 10 - Revenue - Cost Of Revenue (Details)
Note 10 - Revenue - Disaggregation Of Revenue (Details)
Note 10 - Revenue - Remaining Performance Obligations (Details)
Note 10 - Revenue - Remaining Performance Obligations 2 (Details)
Note 11 - Contract Costs
Note 11 - Contract Costs (Details Textual)
Note 11 - Contract Costs (Tables)
Note 11 - Contract Costs - Capitalized Contract Costs Activity (Details)
Note 12 - Common Shares
Note 12 - Common Shares (Details Textual)
Note 12 - Common Shares (Tables)
Note 12 - Common Shares - Share Repurchases (Details)
Note 13 - Stock Option Plans
Note 13 - Stock Option Plans (Details Textual)
Note 13 - Stock Option Plans (Tables)
Note 13 - Stock Option Plans - Fair Value Of Stock Options Granted (Details)
Note 13 - Stock Option Plans - Stock Option Transactions (Details)
Note 13 - Stock Option Plans - Stock-Based Compensation Allocation To Operating Expenses (Details)
Note 13 - Stock Option Plans - Summary Of Exercise Prices, Weighted Average Remaining Contractual Life And Intrinsic Values Of Outstanding Options (Details)
Note 14 - Foreign Exchange
Note 14 - Foreign Exchange (Details Textual)
Note 15 - Other Income, Net
Note 15 - Other Income, Net (Details Textual)
Note 16 - Earnings Per Common Share
Note 16 - Earnings Per Common Share (Details Textual)
Note 16 - Earnings Per Common Share (Tables)
Note 16 - Earnings Per Common Share - Summary Of Basic And Diluted Earnings Per Common Share (Details)
Note 17 - Commitments And Contingencies
Note 17 - Commitments And Contingencies (Details Textual)
Note 17 - Commitments And Contingencies (Tables)
Note 17 - Commitments And Contingencies - Summary Of General Office Facilities And Equipment (Details)
Note 18 - Segment Reporting
Note 18 - Segment Reporting (Details Textual)
Note 18 - Segment Reporting (Tables)
Note 18 - Segment Reporting - Information By Reportable Segments (Details)
Note 18 - Segment Reporting - Summary Of Amortizable Intangible Assets By Geographic Region (Details)
Note 18 - Segment Reporting - Summary Of Cost Of Revenues From Each Significant Revenue Stream (Details)
Note 18 - Segment Reporting - Summary Of Deferred Tax Asset, Net Of Valuation Allowance (Details)
Note 18 - Segment Reporting - Summary Of Property And Equipment By Geographic Region (Details)
Note 18 - Segment Reporting - Summary Of Valuation And Qualifying Accounts (Details)
Note 19 - Subsequent Events
Note 19 - Subsequent Events (Details Textual)
Note 2 - Significant Accounting Policies
Note 2 - Significant Accounting Policies (Details Textual)
Note 2 - Significant Accounting Policies (Tables)
Note 2 - Significant Accounting Policies - Intangible Asset Useful Life (Details)
Note 2 - Significant Accounting Policies - Summary Of Property, Plant And Equipment Depreciation Rates (Details)
Note 2 -Significant Accounting Policies - Impact Of Changes To Financial Statements (Details)
Note 20 - Selected Quarterly Financial Data (Unaudited)
Note 20 - Selected Quarterly Financial Data (Unaudited) (Tables)
Note 20 - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details)
Note 3 - Acquisitions
Note 3 - Acquisitions (Details Textual)
Note 3 - Acquisitions (Tables)
Note 3 - Acquisitions - Preliminary Purchase Consideration (Details)
Note 4 - Property And Equipment
Note 4 - Property And Equipment (Details Textual)
Note 4 - Property And Equipment (Tables)
Note 4 - Property And Equipment - Depreciation Of Property And Equipment (Details)
Note 4 - Property And Equipment - Property And Equipment (Details)
Note 5 - Goodwill And Other Intangible Assets
Note 5 - Goodwill And Other Intangible Assets (Details Textual)
Note 5 - Goodwill And Other Intangible Assets (Tables)
Note 5 - Goodwill And Other Intangible Assets - Acquired Intangible Assets By Major Class (Details)
Note 5 - Goodwill And Other Intangible Assets - Estimated Future Amortization Expense Of Intangible Assets (Details)
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurement (Tables)
Note 6 - Fair Value Measurement - Summary Of The Fair Values Of The Company's Derivative Instrument Liabilities (Details)
Note 7 - Derivative Instruments And Hedging Activities
Note 7 - Derivative Instruments And Hedging Activities (Details Textual)
Note 7 - Derivative Instruments And Hedging Activities (Tables)
Note 7 - Derivative Instruments And Hedging Activities - Effects Of Derivative Instruments On Income And Other Comprehensive Income (Oci) (Details)
Note 7 - Derivative Instruments And Hedging Activities - Fair Value Of Derivative Instruments In The Consolidated Balance Sheets (Details)
Note 7 - Derivative Instruments And Hedging Activities - Foreign Currency Forward Contracts (Details)
Note 7 - Derivative Instruments And Hedging Activities - Movement In Aoci Balance (Details)
Note 8 - Loan Payable
Note 8 - Loan Payable (Details Textual)
Note 8 - Loan Payable (Tables)
Note 8 - Loan Payable - Principal Repayments (Details)
Note 8 - Loan Payable - Schedule Of Loans Payable (Details)
Note 8 - Loan Payable - Schedule Of Standby Fees Based On Total Funded Debt To Ebitda Ratio (Details)
Note 9 - Income Taxes
Note 9 - Income Taxes (Details Textual)
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes - Provision For Income Taxes Differs From The Amount Computed By Applying The Statutory Federal Income Tax Rate (Details)
Note 9 - Income Taxes - Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Liabilities (Details)
Note 9 - Income Taxes - Unrecognized Tax Benefits (Details)
Significant Accounting Policies (Policies)
Ticker: TCX
CIK: 909494
Form Type: 10-K Annual Report
Accession Number: 0001437749-19-004069
Submitted to the SEC: Tue Mar 05 2019 11:42:30 AM EST
Accepted by the SEC: Tue Mar 05 2019
Period: Monday, December 31, 2018
Industry: Computer Processing And Data Preparation

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