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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net revenues (note 10) $ 74,311 $ 88,129 $ 240,418 $ 251,199
Cost of revenues (note 10)        
Cost of revenues 48,330 55,756 153,308 162,561
Network expenses 2,612 2,254 7,513 7,034
Depreciation of property and equipment 2,985 2,231 8,892 6,070
Amortization of intangible assets (note 6) 330 314 1,010 802
Impairment of Property Plant and Equipment 113 0 1,638 0
Total cost of revenues 54,370 60,555 172,361 176,467
Gross profit 19,941 27,574 68,057 74,732
Expenses:        
Sales and marketing 8,318 8,769 26,521 26,366
Technical operations and development 3,162 2,876 8,980 8,151
General and administrative 4,868 4,574 15,074 13,818
Depreciation of property and equipment 125 117 363 375
Loss on disposition of property and equipment 0 73 0 73
Amortization of intangible assets (note 6) 2,315 2,544 7,766 6,661
Impairment of definite life intangible assets (note 6) 0 0 1,431 0
Loss (gain) on currency forward contracts (note 5) (159) 20 (99) (90)
Total expenses 18,629 18,973 60,036 55,354
Income from operations 1,312 8,601 8,021 19,378
Other income (expenses):        
Interest expense, net (760) (1,263) (2,756) (3,549)
Gain on sale of Ting customer assets, net (note 17) 1,090 0 1,090 0
Other expense, net (86) 0 (258) 0
Total other income (expenses) 244 (1,263) (1,924) (3,549)
Income before provision for income taxes 1,556 7,338 6,097 15,829
Provision for income taxes (note 8) 840 3,133 2,390 6,209
Net income for the period 716 4,205 3,707 9,620
Other comprehensive income, net of tax        
Unrealized income (loss) on hedging activities 729 (175) 609 614
Net amount reclassified to earnings (note 5) 46 26 289 167
Other comprehensive income (loss) net of tax expense (income) of $230 and ($47) for the three months ended September 30, 2020 and September 30, 2019, $262 and $250 for the nine months ended September 30, 2020 and September 30, 2019 (note 5) 775 (149) 898 781
Comprehensive income, net of tax for the period $ 1,491 $ 4,056 $ 4,605 $ 10,401
Basic earnings per common share (note 9) (in dollars per share) $ 0.07 $ 0.40 $ 0.35 $ 0.90
Shares used in computing basic earnings per common share (note 9) (in shares) 10,577,731 10,626,754 10,585,785 10,639,544
Diluted earnings per common share (note 9) (in dollars per share) $ 0.07 $ 0.39 $ 0.35 $ 0.89
Shares used in computing diluted earnings per common share (note 9) (in shares) 10,682,808 10,745,834 10,679,162 10,798,099