Tucows reveals portfolio sale price and data center plans.
Domain name, mobile and internet services company Tucows (NASDAQ: TCX) released earnings for Q4 and full-year 2018 yesterday.
In its pre-recorded commentary about the earnings, the company disclosed that it generated about $3.2 million from a bulk sale of domains from its portfolio in Q4. Elliot Silver reported on this transaction with GoDaddy in December. The two companies completed a similar transaction in Q4 2017 but for only $2 million. The 2017 transaction was for approximately 10% of Tucows’ domain portfolio excluding surname domain names.
It will be interesting to see if Tucows does another Q4 transaction this year.
Tucows CEO Elliot Noss made a couple of other interesting comments during the call.
First, the company bought land in Centennial, Colorado to build a data center.
Second, Noss said he’s more concerned about a recession in 2019 than in over a decade. He made the comment in relation to how the company handles share buybacks:
Today, we again announced an open market buyback program that will commence immediately. The program will allow us to repurchase up to $40 million worth of our shares over the course of the next 12 months. This year, more than any year since 2007, I find myself concerned about a possible recession. That potential will inform our thinking in terms of the program.
The earnings release is here.