Highlights for the fourth quarter: • Ended 2018 with $68.2 million of cash and cash equivalents and $7.2 million of restricted cash; Torstar has no bank indebtedness. Cash provided by operating activities was $29.2 million in the fourth quarter of 2018, reflecting $22.4 million of cash generated by operating activities and a $6.3 million decrease in non-cash working capital. • Our net loss from continuing operations was $3.3 million ($0.04 per share) in the fourth quarter of 2018. This compares to net income of $7.8 million ($0.10 per share) in the fourth quarter of 2017. Click read more below for additional detail.
Deluxe Corporation, a Trusted, Tech-Enabled Solutions Company™, today announced an agreement with Ingram Micro, the world’s largest distributor of information technology products, to make Hostopia® Ingram Micro’s preferred provider for select services, including legacy email and hosting solutions. The deal gives Hostopia, a Deluxe company, the opportunity to launch its entire portfolio of online presence and marketing solutions to Ingram Micro’s vast network of solution resellers.
“Deluxe has deep roots in web hosting and cloud-based web design, hosting millions of websites directly and indirectly through our partner network,” said Barry McCarthy, President and CEO of Deluxe Corporation. “This agreement is another important step in our long-term, go-to-market strategy as we transition from our manufacturing background to our tech-enabled future.”
Deluxe and Ingram Micro Cloud will collaborate to deliver a unique suite of services to customers that focus on helping small businesses get online, build a better brand and improve visibility, with packages that include:
• Domain registration
• Professional website and logo design
• Web hosting
• Do-it-yourself website building and logo design
• Business-class email
• Online fax
• SSL and website security
• Directory listings
• Email marketing
• Managed online marketing solutions (SEO, PPC, social media)
“We’re excited to begin this partnership with Ingram Micro Cloud,” said Jorge Carvalho, General Manager of Hostopia. “With more than 20 years of experience working with service providers and their small business customers, we understand small business, the challenges they face and the type of service and support they need to be successful. We’re looking forward to bringing this to Ingram’s channel.”
“Deluxe have proven experience working with small business customers and know what it takes to be successful,” said Tarik Faouzi, vice president, products, at Ingram Micro Cloud. “We are excited about this agreement and are ready to collaborate to bring our customers the best hosting and web services possible.”
As part of the agreement, Ingram Micro will cease use of legacy hosting and email solutions, introducing Hostopia as the preferred provider of consolidating, migrating and introducing new services to customer bases. Hostopia’s products will be available on the Ingram Micro Cloud Marketplace in select markets beginning in the third quarter of 2019. Further, Ingram Micro’s service provider customers using CloudBlue’s commerce platform will also have access to resell Hostopia’s web and hosting services.