Tucows (TCX) is an international provider of Internet service and offers reseller services, including domain services, email services, personal names service, SSL service, platypus ISP billing solutions and blogware, and Web site builder publishing services. The company also provides retail services that include domain registration, email, and other Internet services. In addition, it offers a domain portfolio, consisting of various classes of domain names.
Tucows owns roughly 150,000 domain names, most of which came through an $18 million acquisition in 2006 of rival NetIdentity. Earlier this month, Tucows announced a partnership with Web.com to provide personalized email and Web services to small and medium-sized businesses. Canada-based Tucows works with a network of 9,000 Internet Service Providers (ISPs) across the globe to market its products and services. The company also offers services through resellers and Internet-based distribution network of Internet service providers, Web hosting companies, and other providers of Internet services, as well as through retail Web sites.
For the second quarter ended June 30, Tucows reported sales of $20.5 million, down from $20.8 million in the year earlier period. Net income declined to $2.2 million, or 3 cents a share, from $3.2 million, or 4 cents a share, a year ago. The company has said recently it is working to reduce expenses and may even sell certain assets in an effort to raise cash. According to recent data, the company has almost $3 million in cash on hand. Tucows has almost 74 million shares outstanding, 19 percent of which are owned by insiders. Institutions own about 17 percent. Private investment Lacuna LLC is the company’s largest shareholder via a recently announced stake.
Shares of Tucows closed at 31 cents on Thursday and have traded between 30 cents and 98 cents over the past 52 weeks. Tucows has a market value of $22.9 million. The company’s main competitors include the Go Daddy Group Inc., Network Solutions Inc. and Register.com Inc., all of which are privately held.
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