Tucows 2013 Annual Report Download - page 48

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The following table presents other comprehensive income for the periods presented:
Year ended December 31,
2013
2012
Other comprehensive income (loss)
$
(289,085
)
$
44,104
Decrease in provision over prior period
$
(333,189
)
Decrease - percentage
(755
)%
Percentage of net revenues
(0
)%
0
%
49
RESULTS OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2012 AS COMPARED TO THE YEAR
ENDED DECEMBER 31, 2011
NET REVENUES
The following table presents our net revenues, by revenue source:
Year ended December 31,
2012
2011
Wholesale
Domain Services
$
87,434,450
$
76,201,058
Value Added Services
10,586,460
9,268,460
Total Wholesale
98,020,910
85,469,518
Retail
10,740,844
5,263,118
Portfolio
5,965,147
6,332,331
$
114,726,901
$
97,064,967
Increase over prior period
$
17,661,934
Increase - percentage
18
%
The following table presents our revenues, by revenue source, as a percentage of total revenues:
Year ended December 31,
2012
2011
Wholesale
Domain Services
76
%
78
%
Value Added Services
10
%
10
%
Total Wholesale
86
%
88
%
Retail
9
%
5
%
Portfolio
5
%
7
%
100
%
100
%
Total net revenues for Fiscal 2012 increased by $17.7 million, or 18%, to $114.7 million from $97.1 million for the
fiscal year ended December 31, 2011 (“Fiscal 2011”). Deferred revenue from domain name registrations and other Internet
services at December 31, 2012 increased to $71.0 million from $69.2 million at December 31, 2011. Deferred revenue has
been impacted by the transfer of a significant number of names by certain of our customers from our registrar accreditation to
their own registrar accreditation. This required us to recognize all remaining deferred revenue associated with the transferred
domain names during the current year.
No customer accounted for more than 10% of revenue during Fiscal 2012 and, at December 31, 2012, no customer
accounted more than 10% of accounts receivable. Significant management judgment is required at the time of recording of
revenue to assess whether the collection of the resulting receivables is reasonably assured. On an ongoing basis, we assess
the ability of our customers to make required payments. Based on this assessment, we expect the carrying amount of our
outstanding receivables, net of allowance for doubtful accounts, to be fully collected.