Tucows Reports Continuing Strong Financial Results for Fourth Quarter and Full Year 2018
TORONTO, February 13, 2019 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the fourth quarter ended December 31, 2018. All figures are in U.S. dollars.
Tucows Announces $40 Million Stock Buyback Program
TORONTO, February 13, 2019 – Tucows Inc. (NASDAQ:TCX, TSX:TC) today announced that its Board of Directors has approved a stock buyback program to repurchase, from time to time, up to $40 million of its common stock in the open market.
The new $40 million buyback program will commence February 14, 2019 and will terminate on or before February 13, 2020. Purchases for the new $40 million buyback program will be made exclusively through the facilities of the Nasdaq Capital Market. The previously announced $40 million buyback program for the period February 14, 2018 to February 13, 2019 has been terminated.
All shares purchased by Tucows under the stock buyback program will be retired and returned to treasury.
The timing and exact number of common shares purchased will be at Tucows’ discretion and will depend on available cash and market conditions. Tucows may suspend or discontinue the repurchases at any time, including in the event Tucows would be deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended. Subject to applicable securities laws and stock exchange rules, all purchases will occur through the open market and may be in large block purchases. Tucows does not intend to purchase its shares from its management team or other insiders.
The purchase will be funded from available working capital and existing credit facilities. As of February 13, 2019, Tucows had 10,637,965 common shares outstanding.
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
About Tucows Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) and Enom (http://www.enom.com) manage a combined 23 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (https://www.tucows.com).
This release includes forward-looking statements as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995 including statements regarding our expectations regarding our future financial results and, including, without limitation, our expectation regarding our ability to realize synergies from the Enom acquisition and our expectation for growth of Ting Internet. These statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Information about other potential factors that could affect Tucows’ business, results of operations and financial condition is included in the Risk Factors sections of Tucows’ filings with the Securities and Exchange Commission. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. All forward-looking statements are based on information available to Tucows as of the date they are made. Tucows assumes no obligation to update any forward-looking statements, except as may be required by law.
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
Contact: Lawrence Chamberlain (416) 519-4196 lawrence.chamberlain@loderockadvisors.com
Ting Internet to bring gigabit fiber Internet to Wake Forest, NC
Building on Ting Internet’s success in Holly Springs and Fuquay-Varina, Ting expands its fiber footprint in North Carolina.
February 5, 2019 – Wake Forest, NC Ting, a division of Tucows (NASDAQ: TCX, TSX: TC) is pleased to announce that Wake Forest will be the next town to get crazy fast fiber Internet from Ting. Residents can pre-order now.
With established markets and operations in nearby Holly Springs and Fuquay-Varina, Ting’s expansion into Wake Forest will benefit from its local brand strength and operational synergies. Once completed, it will also add approximately 10,000 serviceable addresses to Ting’s North Carolina footprint.
Ting Internet’s mission is to bring true gigabit fiber Internet with an unparalleled customer experience to cities and towns across America. Ting is building the infrastructure of the future: a gigabit fiber network extending to every customer. That means every home or business address connected to the Ting fiber network has its own fiber optic connection into the premises, enabling every user in a home or businesses to experience lightning fast, low latency, highly reliable Internet access.
“Increasingly, we see that cities and municipalities are looking for better Internet options for their residents and businesses because the incumbents aren’t stepping up,” said Tucows CEO Elliot Noss. “Fiber is the technology that will power smart cities for the next hundred years.”
In 2015, Ting announced it would bring fiber Internet to Holly Springs, NC, and in 2018 Ting named Fuquay-Varina as the next “Ting Town” in the greater Raleigh, NC area. The charming town of Wake Forest will be the third Ting Internet town in North Carolina, and the seventh in the country.
“Ting Internet is proud to be expanding into the Town of Wake Forest, which has so many of the qualities we look for in a Ting Town,” added Noss. “It’s a future-focused community with an entrepreneurial spirit and a strong focus on education and progress. It’s a place where community leaders value the importance of fiber infrastructure and all the benefits it will bring to their constituents.”
Indeed, Ting’s build in Wake Forest would not be possible without the leadership and enthusiasm of the Town.
“Wake Forest is a growing community comprised of highly-educated, globally-connected residents that rely on high-speed communication to meet their ever-changing needs,” said Wake Forest Mayor, Vivian Jones. “We are extremely excited to welcome Ting to Wake Forest and look forward to experiencing the crazy fast speed and reliability fiber optic service delivers.”
Ting expects to light its first customers in Wake Forest this summer.
Pre-orders are open for Wake Forest
Wake Forest residents can pre-order Ting crazy fast fiber Internet now at ting.com/wakeforest. A one-time $9 pre-order is returned as a credit on a customer’s first Ting bill. Pre-ordering secures the best possible break on start-up costs on Ting gigabit service, including the full cost of installation.
Construction will begin this winter and will run in neighborhood phases. These construction phases will be announced on the dedicated Wake Forest Ting Town page at ting.com/wakeforest. This page will be updated regularly as milestones are reached.
Ting Internet offers symmetrical gigabit fiber Internet for residential, small business, and enterprise customers. Home gigabit Internet costs $89 a month. Business gigabit Internet costs $139 a month. Enterprise Internet service levels, installations and pricing vary and can be discussed with the local Ting Enterprise team.
CEO Elliot Noss, VP Networks Adam Eisner, Director, Market Development and Government Affairs Monica Webb, and other members of the Ting team are always available to speak with local and national media. Well, not literally always but you’ll find they’re pretty available and approachable.
About Ting Internet
Ting Internet provides crazy fast fiber Internet in select US towns and cities. Ting is committed to net neutrality and the open Internet. More than that, Ting is committed to being a part of improving the communities it serves by supporting and championing local good works. Ting sponsors local programs, events, foundations, festivals, charities, and public services everywhere we go, investing in the future of the towns we serve.
About Tucows
Tucows is a provider of network access, domain names and other Internet services. Ting (ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (opensrs.com) and Enom (enom.com) manage over 23 million domain names and millions of value-added services through a global reseller network of over 38,000 web hosts and ISPs. Hover (hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows‘ corporate website (tucows.com).
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
| Tucows investor contact Lawrence Chamberlain 416-519-4196 lawrence.chamberlain@loderockadvisors.com | Ting press contact Ray Weiss 410-303-5019 rweiss@weisspr.com |