IDT Corp. (IDT) Reports Q1 EPS of $0.10

IDT Corp. (NYSE: IDT) reported Q1 EPS of $0.10, versus ($0.02) reported last year. Revenue for the quarter came in at $340.2 million, versus $362.3 million reported last year.

REMARKS BY SHMUEL JONAS, CEO"IDT delivered consistent results in the first quarter of our 2020 fiscal year highlighted by expansion of our higher-margin growth initiatives and our lower margin Mobile Top-Up services offset by decreases of our BOSS Revolution Calling and Carrier Service revenues in line with our expectations.

"In IDT's growth initiatives, net2phone's cloud-based UCaaS offering increased revenue 50% year-over-year, and 35% exclusive of our acquisition of Versature. National Retail Solutions turned in a strong quarter, increasing revenue by 93% year-over-year. NRS' advertising, data analytics and credit card processing offerings drove the expansion as they began to gain traction in their respective markets. BOSS Revolution Money Transfer boosted revenue by 56% year-over-year to $7.4 million. DTC revenue increased 69% year-over-year to $4.6 million while retail channel revenue increased 38% to $2.8 million.

"In IDT's Core operations, Mobile Top-Up revenue increased 18% year-over-year to $76.8 million boosted by expanded sales of bundled offerings.

"Expansion of our growth initiatives and Mobile Top-Up drove an increase in gross profit for the fourth consecutive quarter, while Adjusted EBITDA* climbed to $7.3 million from $7.1 million a year ago."

For earnings history and earnings-related data on IDT Corp. (IDT) click here.

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