IDT posts record operating profit as higher-margin businesses expand

IDT ($IDT) reported fiscal-year revenue of $1.298 billion, up 5%, while operating income increased 21% to $121.2 million. Net income attributable to the company rose 14% to $86.6 million, or $3.46 per diluted share. Fourth-quarter revenue grew 7% to $339 million, with operating income rising 52% to $33.2 million and the gross margin expanding to 39.8%.

National Retail Solutions, fintech and net2phone each increased their annual contributions, improving the group’s mix of earnings. NRS revenue rose 24% over the year, while fintech operating income increased 40%. The traditional communications segment remained a major cash-generating business but recorded a 5% annual decline in operating income despite modest sales growth. Adjusted EBITDA of $154.6 million is a non-GAAP measure; the simultaneous increase in reported operating income provides a separate statutory measure of progress.

Sources:

• IDT GlobeNewswire results, reproduced by StockTitan