30th Sep 2013 14:13
LONDON (Alliance News) - Top Level Domain Holdings Limited, a company that focuses on acquiring and operating generic internet domains, saw widened pretax losses as revenues dropped.
The company posted revenues of GBP7,000 for the half-year ended June 30, down from GBP346,000 during the previous year. It posted a pretax loss of GBP1.9 million, widened from GBP1.5 million during the comparable period. Revenue was mostly generated from advertising revenue from its portfolio of second level domains, the company said.
The company had USD12.3 million in application fees with the Internet Corporation for Assigned Names and Numbers under its top level domain programme, and deposited USD3.5 million to fund the letters of credit required for it. There is no assurance that it will be awarded any of the generic top level domains, the company said, but it does does not expect to withdraw any of its applications unless it has not passed the evaluation process and there is no further recourse.
During the period the company resolved its contention with another application for one of its generic top level domain applications, and agreed to withdraw the application in exchange for a revenue share from the other application. Five other applications were withdrawn, and the company incurred a loss in application fees of GBP179,000,
The company says that it now has ownership in 25 uncontested non-branded top level domains and has applied for an additional 48.
The company said that it may see its first revenues as a back-end registry operator by the fourth quarter of 2013, and revenue from the sale of domain names from its first generic top-level domain by the first quarter of 2014. The company said that it was pursuing other potential revenue-producing ventures by developing its own registrar with website-building company Needly.
Shares in Top Level Domain were trading down 5% at 4.38 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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