Tucows 2015 Annual Report Download - page 171
Download and view the complete annual report
Please find page 171 of the 2015 Tucows annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161 -
162 -
163 -
164 -
165 -
166 -
167 -
168 -
169 -
170 -
171 -
172 -
173 -
174 -
175 -
176 -
177 -
178 -
179 -
180 -
181 -
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
 |
 |
Tucows Inc.
Consolidated Statements of Comprehensive Income
(Dollar amounts in U.S. dollars)
Year ended December 31,
201520142013
Net revenues (note 18) $ 172,939,499 $ 147,667,107 $ 129,934,904
Cost of revenues (note 18):
Cost of revenues 113,089,970 101,861,002 92,960,321
Network expenses 5,464,777 4,554,635 4,835,939
Depreciation of property and equipment (note 5) 1,144,989 699,670 627,973
Amortization of intangible assets (note 6) 38,520 - 83,790
Total cost of revenues 119,738,256 107,115,307 98,508,023
Gross profit 53,201,243 40,551,800 31,426,881
Expenses:
Sales and marketing 18,537,810 15,394,065 12,141,036
Technical operations and development 4,502,845 4,305,715 4,158,603
General and administrative (note 13) 10,661,949 9,459,008 7,523,906
Depreciation of property and equipment (note 5) 259,307 226,432 215,447
Amortization of intangible assets (note 6) 224,206 596,620 876,120
Impairment of indefinite life intangible assets (note 6) 206,116 577,145 -
Loss on currency forward contracts (note 8) 792,900 357,760 357,109
Total expenses 35,185,133 30,916,745 25,272,221
Income from operations 18,016,110 9,635,055 6,154,660
Other income (expense):
Interest expense, net (159,025) (206,730) (354,857)
Other income, net (note 14) 85,872 - -
Total other income (expense) (73,153) (206,730) (354,857)
Income before provision for income taxes 17,942,957 9,428,325 5,799,803
Provision for income taxes (note 10) 6,569,227 3,054,229 1,619,339
Net income before redeemable non-controlling interest 11,373,730 6,374,096 4,180,464
Redeemable non-controlling interest (284,509) - -
Net loss attributable to redeemable non-controlling interest 284,509 - -
Net income 11,373,730 6,374,096 4,180,464
Other comprehensive income (loss), net of tax
Unrealized income (loss) on hedging activities (note 8) (2,031,465) (1,004,115) (470,779)
Net amount reclassified to earnings (note 8) 1,544,454 626,655 181,694
$ (487,011) $ (377,460) $ (289,085)
Page 171 of 22
5
tcx20151201_10k.ht
m
9
/
13
/
201
6
https://www.sec.gov/Archives/edgar/data/909494/000143774916027177/tcx20151201_10...