Tucows reports financial results for the third quarter of fiscal 2007
TORONTO, Nov. 6 /PRNewswire-FirstCall/ - Tucows Inc. (AMEX:TCX, TSX:TC), a leading provider of Internet services to web hosting companies and ISPs worldwide, today reported its financial results for the third quarter of fiscal 2007, ended September 30, 2007. All figures are in U.S. dollars unless otherwise stated.
'Despite short-term challenges, we are optimistic about the significant opportunities for long-term growth in our business,' said Elliot Noss, President and CEO, Tucows Inc. 'We are confident that the price reduction on wholesale domain names implemented in early August and affiliate channel opportunities from the acquisition of IYD will re-energize our traditional domain names business. Moreover, our emerging domain name revenue streams from direct navigation, premium domain name sales from our own inventory, and agency fees on sales of third-party premium domain name inventories provide excellent future growth potential. In addition, our new hosted email service will allow our customers to compete with the best of the free and hosted services in the market. We have positioned Tucows to achieve sustainable long-term growth.
'Our financial results were affected by our decision to reduce the price in our traditional domain names business and the declining yields from our Google ads. In addition, we experienced unsatisfactory results from our content libraries, which we are currently addressing. These factors combined to have a muting effect on generation of cash flow from operations, which we now expect to be in the range of $8.5 million to $9.0 million for fiscal 2007.'
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