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Insider selling at Tucows



TucowsThe multi-year run of Tucows (Tucows Stock Quote, Chart, News: TSX:TC Nasdaq:TCX) has some insiders lightening their positions.

Several members of the company’s management team, including Executive VP David John Woroch, Independent Co-Chairman of the Board Rawleigh H. Ralls IV, Executive VP Carla Goertz, and CFO Michael Cooperman have sold shares in the open market recently.

Ralls has been the largest seller of late, selling 8000 shares on March 27th, 10,100 shares on March 30th, and another 6900 shares on March 31st.

On February 11, Tucows reported its fourth quarter and fiscal 2014 results, continuing a trend of double-digit growth. In the fourth quarter, the company earned was $1.9 million, or $0.16 a share on revenue of $38.8 million, up 17% from the $33.1 million topline the company posted in the same period a year prior.

“The fourth quarter was a solid finish to a strong year for Tucows,” said CEO Elliot Noss. “The continuing growth in contribution from Ting Mobile, combined with steady performance of our Domains business, enabled us to deliver net earnings per share of $0.16 for the fourth quarter, bringing EPS for the year to a record $0.57, an increase of 43% over 2013. Importantly, we continue to realize the benefit from the operating leverage in our business as consolidated gross margin for the quarter grew to 26% from 23%, excluding the Portfolio Group, for the same period last year.

At press time, shares of Tucows on the TSX were down 2.1% to $23.75.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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