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NYSE:IDT posted lower revenue in its fiscal Q3 results, but the company maintained gross profit with a focus on higher margins.
- Revenues fell 6.6% overall. Strong results in the company's growth initiatives helped to make up for losing lower-margin revenues: Unified Communications as a Service revenue at net2phone rose 80%, to $6.7M; National Retail Solutions revenue rose 32%, to $1.5M; and BOSS Revolution international money transfer revenue rose 34% to $6.1M.
- Operating income rose to $2.7M from a year-ago loss of $1.7M, and EBITDA rose to $8.9M from $8.1M.
- And non-GAAP EPS jumped to $0.20 from $0.07.
- "Overall, we head into the fourth quarter in a strong position," says CEO Shmuel Jonas. "We still face challenges on multiple fronts, but our team deserves great credit for the considerable progress we have made diversifying our sources of revenue and margin."
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Conference call to come at 5:30 p.m. ET.
- Press release