Tucows 2013 Annual Report Download - page 78

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as of December 31, 2012
Additional paid-in capital
28,632,311
33,931,529
Deficit
(13,329,379
)
(17,509,843
)
Accumulated other comprehensive income (loss)
(244,981
)
44,104
Total stockholders' equity
26,917,218
26,550,207
Total liabilities and stockholders' equity
$
121,352,829
$
118,773,143
Commitments and contingencies (note 13)
Subsequent event (note 15)
See accompanying notes to consolidated financial statements
F-4
Tucows Inc.
Consolidated Statements of Comprehensive Income
(Dollar amounts in U.S. dollars)
Year ended
December 31,
2013
2012
2011
Net revenues (note 16)
$
129,934,904
$
114,726,901
$
97,064,967
Cost of revenues (note 16):
Cost of revenues
92,960,321
82,837,395
68,088,387
Network expenses (*)
4,835,939
4,925,058
4,837,650
Depreciation of property and equipment
627,973
611,640
750,455
Amortization of intangible assets
83,790
143,640
85,590
Total cost of revenues
98,508,023
88,517,733
73,762,082
Gross profit
31,426,881
26,209,168
23,302,885
Expenses:
Sales and marketing (*)
12,141,036
8,701,446
7,442,681
Technical operations and development (*)
4,158,603
4,302,820
4,868,228
General and administrative (*)
7,204,895
6,610,819
6,096,596
Depreciation of property and equipment
215,447
190,420
187,005
Loss on disposition of property and equipment
-
118,944
42,165
Amortization of intangible assets
876,120
876,120
1,004,950
Loss (gain) on currency forward contracts (note 2(k))
676,120
(682,851
)
535,223
Total expenses
25,272,221
20,117,718
20,176,848
Income from operations
6,154,660
6,091,450
3,126,037
Other income (expense):
Interest expense, net
(354,857
)
(192,863
)
(50,404
)
Other income, net (note 11)
-
529,711
374,977
Total other income (expense)
(354,857
)
336,848
324,573
Income before provision for income taxes
5,799,803
6,428,298
3,450,610
Provision for (recovery of) income taxes (note 10)
1,619,339
2,004,156
(2,719,621
)
Net income
4,180,464
4,424,142
6,170,231