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Web Hosting Provider Tucows Inc. Reports Record Net Revenue |
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February 11, 2006 – (HOSTSEARCH) - Web hosting provider Tucows Inc. has reported record net revenue for the fiscal year ending December 31, 2005. According to its results, the company experienced an 8% increase in net revenue totaling $12.7 million in 2005 with other highlights including income from operations totaling $1.9 million, net income of $2.8 million and operational cash flow of $4.1 million.
"The fourth quarter caps off a year of significant achievement for Tucows," said Elliot Noss, President and Chief Executive Officer, Tucows Inc. "We strengthened our shareholder base and improved our public market listing with our successful secondary offering. We diversified our revenue base and significantly expanded our presence in email with our acquisition of Critical Path's hosted email business. We strengthened and realigned our people to better reflect our new multi-service environment. We also posted a year of strong financial results with continued growth and profitability in the face of increased ICANN fees and a strengthening Canadian dollar. We believe that these accomplishments will serve Tucows well for 2006 and beyond and will allow us to focus on our priorities for 2006. These priorities include integrating the Critical Path hosted email business, improving the user experience for Internet services like Blogware and email, increasing efficiency in the market for domain names by leveraging the secondary market and reaching a much broader segment of our channel with our billing and customer care solutions."
Tucows signed an agreement with Critical Path, Inc. in the last quarter of last year acquiring its hosted messaging assets and customer base to make it a leader in hosted email solutions for Internet service providers and web hosting companies. |
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