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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