Tucows 2015 Annual Report Download - page 112
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losses on currency forward contracts, excess tax benefit related to stock-based compensation and a recovery for
deferred tax. In addition, changes in our working capital generated $0.9 million. Positive contributions of $2.9 million
from movements in accounts payable, deferred revenue, prepaid expenses and deposits and accrued liabilities were
partially offset by our utilizing $2.0 million to fund a reduction in and deferred registration costs, income taxes,
customer deposits and inventory and an increase in accounts receivable.
Year ended December 31, 2013
Net cash inflows from operating activities were $8.7 million, an increase of 37% when compared to the prior year.
Net income, after adjusting for non-cash charges, during Fiscal 2013 was $5.7 million, which included non-cash charges
and recoveries of $1.5 million such as depreciation, amortization, stock-based compensation, the provision for unrealized
losses on currency forward contracts, excess tax benefit related to stock-based compensation and a recovery for deferred
tax. In addition, changes in our working capital generated $3.0 million. Positive contributions of $5.4 million from
movements in deferred registration costs, income taxes, accrued liabilities, inventory, accounts payable and prepaid
expenses and deposits, were partially offset by our utilizing $2.4 million to fund a reduction in deferred revenue and
customer deposits and an increase in accounts receivable.
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