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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Net revenues (note 10) $ 70,875 $ 83,985
Cost of revenues (note 10)    
Direct cost of revenues 46,187 53,188
Network expenses 3,238 2,416
Depreciation of property and equipment 3,638 2,877
Amortization of intangible assets (note 6) 299 354
Impairment of property and equipment 60 0
Total cost of revenues 53,422 58,835
Gross profit 17,453 25,150
Expenses:    
Sales and marketing 8,311 8,985
Technical operations and development 3,132 2,751
General and administrative 4,953 4,741
Depreciation of property and equipment 121 113
Amortization of intangible assets (note 6) 2,320 2,947
Loss (gain) on currency forward contracts (note 5) (253) 441
Total expenses 18,584 19,978
Income from operations (1,131) 5,172
Other income (expenses):    
Interest expense, net (936) (1,150)
Gain on sale of Ting Customer Assets 5,395 0
Other expense, net (96) (87)
Total other income (expenses) 4,363 (1,237)
Income before provision for income taxes 3,232 3,935
Provision for income taxes (note 8) 1,083 1,101
Net income for the period 2,149 2,834
Other comprehensive income, net of tax    
Unrealized income (loss) on hedging activities (note 5) 368 (1,234)
Net amount reclassified to earnings (note 5) (834) 43
Other comprehensive income (loss) net of tax expense (recovery) of ($140) and ($366) for the three months ended March 31, 2021 and March 31, 2020, respectively (note 5) (466) (1,191)
Comprehensive income, net of tax for the period $ 1,683 $ 1,643
Basic earnings per common share (note 9) (in dollars per share) $ 0.20 $ 0.27
Shares used in computing basic earnings per common share (note 9) (in shares) 10,617,807 10,612,230
Diluted earnings per common share (note 9) (in dollars per share) $ 0.20 $ 0.26
Shares used in computing diluted earnings per common share (note 9) (in shares) 10,796,762 10,713,678