IDT Corp. Reports Operating Results (10-K)

IDT Corp. (IDT, Financial) filed Annual Report for the period ended 2010-07-31.

Idt Corp. has a market cap of $337.5 million; its shares were traded at around $15.05 with a P/E ratio of 14.4 and P/S ratio of 0.3. IDT is in the portfolios of Irving Kahn of Kahn Brothers & Company Inc., Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.

Highlight of Business Operations:

We completed an initial public offering of our common stock on March 15, 1996. Our common stock was quoted on the NASDAQ National Market until February 26, 2001, at which time it became listed on the New York Stock Exchange, where it now trades under the symbol IDT.C. On May 31, 2001, we distributed a stock dividend of one share of our Class B common stock for each outstanding share of our common stock, Class A common stock and Class B common stock. On June 1, 2001, our Class B common stock was listed on the New York Stock Exchange and now trades under the symbol IDT. On September 30, 2008 and October 8, 2008, we received notices from the New York Stock Exchange, or NYSE, that we were no longer in compliance with the NYSEs $100 million market capitalization threshold and the $1.00 average closing price over a consecutive 30-day trading period requirement, respectively, required for continued listing. In April 2009, we regained compliance with the $1.00 average closing price over a consecutive 30-day trading period requirement after a one-for-three reverse stock split of all of our outstanding common stock, Class A common stock and Class B common stock was effected on February 24, 2009. On April 1, 2010, we received notification from the NYSE that we had regained full compliance with the NYSEs quantitative continued listing standards by achieving market capitalization of $140.9 million on March 30, 2010 and 30 trading day trailing average market capitalization through and including March 30, 2010 of $120.8 million. On October 18, 2010, we had a market capitalization of $324.5 million.

In April 2010, Michael Steinhardt, the Chairman of the Board of IEI, purchased a minority interest in our subsidiary Genie Energy Corporation, or Genie, and an option to purchase additional shares of Genie for $5.0 million. The option is exercisable until April 9, 2015 at an exercise price of $5.0 million. In addition, in April 2010, oil and gas entrepreneur W. Wesley Perry, the Chairman of the Board of Genie, purchased a minority interest in Genie for $0.4 million. Mr. Perry became a member of our Board in September 2010.

In fiscal 2010, IDT Telecom had revenues of $1,193.9 million, representing 85.2% of our total consolidated revenues from continuing operations, and operating income of $26.9 million, as compared with revenues of $1,237.2 million and operating loss of $(27.2) million in fiscal 2009.

During fiscal 2010, our Telecom Platform Services segment generated $1,156.7 million in revenues worldwide and had operating income of $14.4 million, as compared with revenues of $1,183.5 million and operating loss of $(45.8) million in fiscal 2009. Our prepaid products businesses accounted for 51% of the revenues of our Telecom Platform Services segment in fiscal 2010.

Our Consumer Phone Services segment generated revenues of $37.2 million and operating income of $12.5 million in fiscal 2010, as compared to revenues of $53.7 million and operating income of $18.6 million in fiscal 2009.

In fiscal 2010, IDT Energy generated revenues of $201.4 million comprised of $132.2 million from sales of electricity and $69.2 million from sales of natural gas, as compared with revenues of $264.7 million in fiscal 2009. In fiscal 2010, IDT Energys revenues represent 14.4% of our total consolidated revenues from continuing operations. In addition in fiscal 2010, IDT Energy had operating income of $37.8 million, as compared with operating income of $45.4 million in fiscal 2009.

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