SAO PAULO and BUENOS AIRES, Argentina, Aug. 16, 2017 – WeWork Brazil and WeWork Argentina today named IDT/net2phone as their preferred partner for voice communications. 

“We are delighted to have been selected by WeWork Brazil and WeWork Argentina as their preferred provider for voice communications,” said Daniel Londynski, Managing Director of IDT Latin America.  “Our hosted PBX service will provide WeWork with the key features and flexibility of enterprise communications systems at a fraction of the cost.  It’s an ideal solution for creative businesses that depend on collaboration and innovation.”

net2phone, a leading cloud based telephony provider, offers a full suite of voice over IP solutions to businesses and other organizations in Brazil, Argentina and over 160 other countries around the world.  net2phone is a subsidiary of IDT Corporation, a global provider of communications and payment services.

“We are happy to work with IDT/net2phone to make its hosted PBX solution available to WeWork members in Brazil and Argentina. We are confident that anyone within our network who signs up with IDT/net2phone will get the best services provided by a dedicated support staff,” said Lucas Mendes, General Manager of WeWork Brazil.

WeWork is a platform for creators, providing more than 130,000 members around the world with space, community, and services through both physical and digital offerings. The company currently has 163+ physical locations in more than 52 cities and 16 countries around the world. WeWork’s innovative shared office spaces landed in Brazil last month, with the opening of WeWork Paulista in Sao Paulo, and in May this year in Argentina with Torre Bellini.  Before the end of 2017, WeWork will have four buildings in Sao Paulo, two in Rio de Janeiro, and two locations in Buenos Aires.  For more information, visit www.wework.com.

“Net2Phone looks forward to enhancing collaboration among WeWork’s clients, suppliers, partners and members with releases including a full suite of unified communication services such as messaging, collaboration, WebRTC, SMS, CRM integration, and more,” said Jonah Fink, President of net2phone.  “WeWork Argentina and WeWork Brazil are leading the way to create more innovative work spaces and communities in their respective countries.  We are proud that net2phone’s innovative communications services will be part of the WeWork experience.”

For more information on IDT/net2phone Brazil’s Hosted PBX offerings, visit: www.idtpabx.com.br.

For more information on IDT/net2phone Argentina’s Hosted PBX offerings, visit: www.net2phoneunlimited.com.ar.

About WeWork:
WeWork is the platform for creators. We provide beautiful workspace, an inspiring community, and meaningful business services to hundreds of thousands of members around the world. From startups and freelancers to small businesses and large corporations, our community is united by a desire for our members to create meaningful work and lead meaningful lives-to be a part of something greater than ourselves.

Co-founded by Adam Neumann and Miguel McKelvey in New York City in 2010, WeWork is a privately held company with over 2000 employees.

About net2phone:
net2phone, a leading cloud based telephony provider, offers a full suite of UCaaS solutions in over 160 countries.  net2phone routes millions of minutes daily over data networks, offering high quality voice services and saving consumers and businesses up to 90% off international calling rates.  For more information about net2phone’s products and services, please visit www.net2phone.com. net2phone is a subsidiary of IDT Corporation (NYSE: IDT). 

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors.  Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

View original content with multimedia:http://www.prnewswire.com/news-releases/wework-brazil-and-wework-argentina-select-idtnet2phone-as-their-preferred-hosted-voice-communications-provider-300505087.html

SOURCE IDT Corporation

NEWARK, N.J., June 22, 2017 – IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today said that it has agreed to sell its IDT Financial Services Holdings Limited subsidiary (IDT Finance) to JAR Fintech Limited (JAR), a Gibraltar entity controlled by JAR Capital Limited, a UK based wealth and asset manager authorized and regulated by the UK’s Financial Conduct Authority.

IDT Finance is the sole shareholder of IDT Financial Services Limited, a Gibraltar-based bank and e-money issuer, providing prepaid card solutions across the European Economic Area. IDT Finance Services Limited is licensed and regulated by the Gibraltar Financial Services Commission (GFSC), and its sale to JAR is subject to GFSC approval, as well as the approval of the Gibraltar Minister with responsibility for financial services.

The agreed-upon purchase price consists of the value of IDT Finance’s net assets at closing plus an additional amount of approximately £3 million.

About IDT:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship BOSS Revolution^® and Net2Phone^® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls.  For more information on IDT, visit www.idt.net.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors.  Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/idt-corporation-to-sell-gibraltar-based-banking-unit-300478270.html

SOURCE IDT Corporation

NEWARK, N.J., June 6, 2017 – IDT Corporation (NYSE: IDT) reported a loss per share of $0.21 and Non-GAAP earnings per share (EPS)* of $0.28 on revenue of $370.0 million for the third quarter of its fiscal year 2017, the three months ended April 30, 2017.  

HIGHLIGHTS  
(Results for 3Q17 compared to 3Q16)

• Revenue of $370.0 million compared to $355.2 million;
• Loss from operations of $6.5 million, including a charge of $10.2 million for a legal settlement, compared to income from operations of $5.7 million, including a gain of $1.1 million on the sale of Fabrix;
• Adjusted EBITDA* of $9.1 million compared to $10.3 million;
• Loss per share of $0.21 compared to EPS of $0.19;
• Non-GAAP EPS* of $0.28 compared to $0.38;   
• IDT has declared a dividend of $0.19 per share for 3Q17 to be paid on or about June 30, 2017.

*Throughout this release, Non-GAAP EPS, Adjusted EBITDA, and Non-GAAP Net Income for all periods presented are Non-GAAP measures intended to provide useful information that supplements IDT’s or the relevant segment’s core results in accordance with GAAP.  Please refer to the Reconciliation of Non-GAAP Financial Measures at the end of this release for an explanation of these terms and their respective reconciliations to the most directly comparable GAAP measure.  

REMARKS BY SHMUEL JONAS, CEO OF IDT CORPORATION

“I am very pleased by the growth of our early stage business initiatives during the third quarter, even as we took steps to strengthen our core business offerings and further streamline operations.  

“National Retail Solutions continues to expand rapidly and is developing new ways to leverage our point-of-sale network to create additional value for our retailers, consumer package good suppliers and our BR Club members.  At net2phone, our cloud-based PBX offering is on track to double the number of seats it serves in the first six months of the year. We also successfully launched the offering in Brazil in January and in Argentina in May. 

“Our Boss Revolution money transfer business completed its best quarter ever.  We expect to drive additional retail growth by gradually expanding our presence beyond our original focus on ten states.  In addition, the fastest increase in transaction volumes is coming from our direct to consumer digital channel, including the Boss Revolution Money app, which is doubling in volume every three to four months and already contributes more than one in four transactions.

“From a corporate perspective, we continue to streamline our operations and tighten our strategic focus.  As part of this effort, we expect to spin-off our real estate assets together with our interests in Rafael Pharmaceuticals, Inc. (formerly Cornerstone Pharmaceuticals, Inc.) and certain other investments as Rafael Holdings later this year.”

3Q17 CONSOLIDATED RESULTS 

Consolidated results in 3Q16 include the results of Zedge, which was spun off to IDT stockholders on June 1, 2016.  Zedge contributed $2.6 million in revenue, $239 thousand in income from operations, and $392 thousand in Adjusted EBITDA in 3Q16.  Zedge did not contribute to results in fiscal 2017.

Consolidated results for all periods presented include corporate overhead.  In 3Q17, corporate G&A expense decreased 30.2% to $2.0 million from $2.8 million in the year ago quarter.  Consolidated results also included a loss of $10.1 million in 3Q17, resulting from the previously announced agreement with Straight Path Communications Inc. (SPCI), to settle potential liabilities and claims under agreements related to the spin-off of SPCI from IDT in 2013, as well as associated legal costs.

At April 30, 2017, IDT had $132.3 million in unrestricted cash, cash equivalents and marketable securities. In addition, the company reported $93.3 million in current restricted cash and cash equivalents, nearly all of which represents customer deposits held by IDT’s Gibraltar-based bank.  Current assets totaled $327.0 million and current liabilities were $332.7 million.

Net cash provided by operating activities during 3Q17 was $1.3 million compared to $10.7 million in 3Q16. For the same periods, capital expenditures were $6.5 million compared to $4.7 million, respectively.

3Q17 RESULTS BY SEGMENT
(Results are for 3Q17 unless otherwise noted).

Telecom Platform Services (TPS)
The Telecom Platform Services segment accounted for 97.5% of IDT’s revenue in 3Q17 compared to 96.9% in 3Q16.  TPS markets and distributes multiple communications and payment services across three broad business categories: Retail Communications, Wholesale Carrier Services and Payment Services. 

TPS’ minutes of use (MOU) in 3Q17 were 6.98 billion, an increase of 3.1% from 6.77 billion in 3Q16.  Retail Communications’ MOU decreased 20.4% compared to the year ago quarter, while Wholesale Carrier Services’ MOU increased 12.8%.

TPS’ revenue in 3Q17 was $360.8 million, a 4.8% increase from $344.2 million in the year ago quarter. 

Retail Communications’ revenue declined 8.9% year over year to $148.6 million.  TPS’ dominant offering, the popular BOSS Revolution® calling service, has been negatively impacted by increased competition from wireless operators’ “unlimited” offerings and the rise of over-the-top voice and messaging. 

Wholesale Carrier Services’ revenue increased 20.6% year over year to $152.1 million, reflecting growth in traffic carried to higher revenue per minute destinations in Africa and the Middle East. 

Payment Services’ revenue increased 9.2% to $60.1 million.  Sales of international mobile top-up services, the dominant offering in this vertical, increased 8.0% year over year, while revenues generated by IDT’s international money transfer and retail point-of-sale network businesses, both of which are early stage initiatives with immaterial impact on TPS’ overall results, increased robustly. 

TPS’ direct cost of revenue in 3Q17, expressed as a percentage of TPS’ revenue, increased to 86.2% from 84.0%, reflecting continuing competitive margin pressure on both our BOSS Revolution and wholesale carrier offerings.

TPS’ SG&A expense in 3Q17 was $39.8 million compared to $43.8 million in 3Q16, a decrease of $4.0 million primarily resulting from reduced headcount.  In 3Q17, TPS’ SG&A expense expressed as a percentage of revenue was 11.0%, a 170 basis points decrease compared to the year ago quarter.

TPS’ depreciation and amortization expense was $4.0 million compared to $4.2 million in the year ago period.

TPS’ income from operations was $5.8 million in 3Q17 compared to $6.9 million in 3Q16, while Adjusted EBITDA for the same periods was $9.8 million and $11.3 million, respectively, primarily as a result of the margin contraction, which was mostly offset by the reduction in SG&A expense.

Unified Communications as a Service (UCaaS)
The UCaaS segment is comprised of offerings from IDT’s net2phone^® division, including (1) cable telephony, (2) hosted PBX, (3) SIP trunking, which supports inbound and outbound domestic and international calling from an IP PBX, and (4) PicuP, a highly-automated business phone service that answers, routes and manages voice calls.

UCaaS’ revenue in 3Q17 increased t
o $7.4 million from $6.2 million in 3Q16, including a 189% increase in revenue from net2phone’s hosted PBX offering.  The segment’s two largest offerings – cable telephony and SIP trunking – also posted year over year gains. 

UCaaS’ direct cost of revenue expressed as a percentage of revenue decreased to 39.7% from 48.7% in 3Q16 as its business continued to scale.

SG&A expense for the UCaaS segment increased to $3.9 million in 3Q17 from $3.0 million (+30.0%) in 3Q16.  As a percentage of UCaaS’ revenue, SG&A in 3Q17 increased 420 basis points year over year to 52.2%, as net2phone ramped up its investment in technology, expanded its product suite and boosted its sales and marketing programs.

UCaaS’ loss from operations narrowed to $456 thousand in 3Q17 from $531 thousand in 3Q16 while Adjusted EBITDA increased to $601 thousand from $204 thousand over the same period.

Consumer Phone Services (CPS)
The Consumer Phone Services segment sells postpaid local and long-distance services in the U.S., marketed under the brand name IDT America.  CPS has been in harvest mode for more than a decade – maximizing revenue from current customers while maintaining SG&A and other expenses at the minimum levels essential to operate the business.  CPS’ financial results are provided in the segment results chart above and conformed to expectations.

All Other
All Other includes IDT’s real estate holdings, comprised of its public garage in Newark and commercial properties in Newark, Piscataway and Jerusalem, as well as other small businesses and investments, including an investment in Rafael Pharmaceuticals, Inc., (formerly Cornerstone Pharmaceuticals, Inc.).

Rafael Pharmaceuticals is a clinical stage, oncology-focused pharmaceutical company committed to the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells.

All Other previously included Zedge, a platform and mobile app centered on self-expression.  Zedge was fully spun off from IDT to IDT’s shareholders on June 1, 2016.  Because the disposition of IDT’s interest in Zedge did not meet the criteria to be reported as a discontinued operation, Zedge’s results of operations and cash flows continue to be included in prior comparative periods.

All Other’s financial results are provided in the segment results chart above and conformed to expectations.

IDT expects to spin-off the real estate and pharmaceutical holdings included in All Other to its shareholders in CY 2017 under the name Rafael Holdings.

DIVIDEND

IDT’s Board of Directors has declared a quarterly dividend of $0.19 per share of Class A and Class B common stock for 3Q17 to be paid on or about June 30, 2017.  The dividend will be paid to stockholders of record as of the close of business on June 19^th.  The ex-dividend date will be June 15^th.  This distribution will be treated as a return of capital for tax purposes.

IDT EARNINGS ANNOUNCEMENT & SUPPLEMENTAL INFORMATION

This release is available for download in the “For Investors” section of the IDT Corporation website (http://idt.net/ir) and has been filed on a current report (Form 8-K) with the SEC.

IDT will host an earnings conference call beginning at 5:30 PM ET today with management’s discussion of results, outlook and strategy followed by Q&A with investors. 

To listen to the call and participate in the Q&A, dial toll-free 1-888-348-8417 (from U.S.) or 1-412-902-4243 (international) and request the IDT Corporation call.

A recording of the conference call can be accessed beginning one hour after the call concludes through June 13, 2017 by dialing 1-844-512-2921 (toll free from the US) or 1-412-317-6671 (international) and providing this pin code: 10106686.  The recording will also be available via streaming audio at the IDT investor relations website (www.idt.net/ir) following the call.

About IDT:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship BOSS Revolution^® and net2phone^® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls.  For more information on IDT, visit www.idt.net.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors.  Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

Reconciliation of Non-GAAP Financial Measures for the Third Quarter Fiscal 2017 and 2016

In
addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), IDT also disclosed, for 3Q17, 2Q17 and 3Q16, Adjusted EBITDA, non-GAAP net income and non-GAAP diluted earnings per share, or EPS, which are non-GAAP measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

IDT’s measure of Adjusted EBITDA consists of revenues less direct cost of revenues and selling, general and administrative expense. Another way of calculating Adjusted EBITDA is to start with income from operations, add depreciation and amortization, severance expense and other operating expense, and subtract the gain on sale of interest in Fabrix Systems Ltd.

IDT’s measure of non-GAAP net income starts with net income in accordance with GAAP and adds depreciation and amortization, severance expense, stock-based compensation and other operating expense, and subtracts the gain on sale of interest in Fabrix Systems Ltd. and the tax benefit from the release of the valuation allowance and full recognition of deferred tax assets.

IDT’s measure of non-GAAP diluted EPS is calculated by dividing non-GAAP net income by the diluted weighted-average shares.

These additions and subtractions are non-cash and/or non-routine items in the relevant fiscal 2017 and fiscal 2016 periods.

Management believes that IDT’s Adjusted EBITDA, non-GAAP net income and non-GAAP EPS measures provide useful information to both management and investors by excluding certain expenses and non-routine gains and losses that may not be indicative of IDT’s or the relevant segment’s core operating results. Management uses Adjusted EBITDA, among other measures, as a relevant indicator of core operational strengths in its financial and operational decision making. In addition, management uses Adjusted EBITDA, non-GAAP net income and non-GAAP EPS to evaluate operating performance in relation to IDT’s competitors. Disclosure of these financial measures may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, IDT has historically reported similar financial measures and believes such measures are commonly used by readers of financial information in assessing performance, therefore the inclusion of comparative numbers provides consistency in financial reporting at this time.

Management refers to Adjusted EBITDA, as well as the GAAP measures income (loss) from operations and net income, on a segment and/or consolidated level to facilitate internal and external comparisons to the segments’ and IDT’s historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

While depreciation and amortization are considered operating costs under GAAP, these expenses primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. IDT’s operating results exclusive of depreciation and amortization charges are useful indicators of its current performance.

Severance expense is also excluded from the calculation of Adjusted EBITDA, non-GAAP net income and non-GAAP EPS. Severance expense is reflective of decisions made by management in each period regarding the aspects of IDT’s and its segments’ businesses to be focused on in light of changing market realities and other factors. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of IDT’s core and continuing operations.

Other operating expense and gain on the sale of interest in Fabrix Systems Ltd. are components of income from operations. In fiscal 2017, other operating expense includes a non-routine expense for a settlement and mutual release, and the associated legal fees, related to potential liabilities and claims under agreements related to the spin-off of SPCI from IDT in 2013. In fiscal 2016, other operating expense includes a loss on disposal of property, plant and equipment. Other operating expense and gain on the sale of interest in Fabrix Systems Ltd. are excluded from the calculation of Adjusted EBITDA, non-GAAP net income and non-GAAP EPS. From time-to-time, IDT may incur costs related to non-routine legal and regulatory matters or disposal of certain assets. In addition, IDT may select and incubate promising early stage businesses outside of its core business for eventual sale or spin-off to its stockholders. However, such legal and regulatory matters and disposals do not occur each quarter. IDT does not believe the gains or losses from asset sales or from non-routine legal and regulatory matters should be included in IDT’s or the relevant segment’s core operating results.

The other calculation of Adjusted EBITDA consists of revenues less direct cost of revenues and selling, general and administrative expense. As the other excluded items are not reflected in this calculation, they are excluded automatically and there is no need to make additional adjustments. This calculation results in the same Adjusted EBITDA amount and its utility and significance is as explained above.

Stock-based compensation recognized by IDT and other companies may not be comparable because of the variety of types of awards as well as the various valuation methodologies and subjective assumptions that are permitted under GAAP. Stock-based compensation is excluded from IDT’s calculation of non-GAAP net income and non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results per share of IDT’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for IDT for the foreseeable future and an important part of employees’ compensation that impacts their performance. 

The income tax benefit in fiscal 2017 from the release of the valuation allowance and full recognition of deferred tax assets is excluded from IDT’s calculation of non-GAAP net income and non-GAAP EPS because it is not directly related to the current results of IDT’s core operations.  The income tax benefit was recorded by Elmion Netherlands B.V., a Netherlands subsidiary. This release was due to an internal reorganization and will not be a reoccurring item.

Adjusted EBITDA, non-GAAP net income and non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, income (loss) from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, IDT’s measurements of Adjusted EBITDA, non-GAAP net income and non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.

Following are reconciliations of Adjusted EBITDA, non-GAAP net income and non-GAAP EPS to the most directly comparable GAAP measure, which are, (a) for Adjusted EBITDA, income (loss) from operations for IDT’s reportable segments and net income for IDT on a consolidated basis, (b) for non-GAAP net income, net income and, (c) for non-GAAP EPS, basic and diluted earnings per share.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/idt-corporation-reports-third-quarter-fiscal-2017-results-300469805.html

SOURCE IDT Corporation

NEWARK, N.J., May 26, 2017 — IDT Corporation (NYSE: IDT), a global provider of communications and payment services, has scheduled its report of third quarter fiscal year 2017 financial and operational results for Tuesday, June 6, 2017.

The third quarter (the three months ended April 30, 2017) earnings release will be issued and posted on the IDT investor relations website (www.idt.net/ir) at approximately 4:30 PM ET.

IDT will host an earnings conference call beginning at 5:30 PM ET with management’s discussion of results, outlook and strategy followed by Q&A with investors. 

To listen to the call and participate in the Q&A, dial toll-free 1-888-348-8417 (from U.S.) or 1-412-902-4243 (international) and request the IDT Corporation call.

A recording of the conference call can be accessed one hour after the call concludes through June 13, 2017 by dialing 1-844-512-2921 (toll free from the US) or 1-412-317-6671 (international) and providing this pin code: 10106686.  The recording will also be available via streaming audio at the IDT investor relations website (www.idt.net/ir) following the call.

About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution^® and Net2Phone^® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls.  For more information on IDT, visit www.idt.net.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/idt-corporation-to-report-third-quarter-fiscal-year-2017-results-300464575.html

SOURCE IDT Corporation

NEWARK, N.J., May 1, 2017 — ABP Technology (ABPTech), a value-added IP Technology distributor specializing in communications, surveillance and infrastructure, and net2phone, a leader in VoIP communications and a rapidly growing UCaaS provider, today announced a partnership to make net2phone’s cloud communication services available to ABPTech’s technology partners.

Kurt Dow, ABPTech’s VP of Business Development said, “net2phone’s worldwide infrastructure provides very low latency for a positive customer experience. net2phone is a 3CX-tested and supported SIP trunk provider so our partners get a seamless solution.  By coupling our IP PBX solutions, whether on-premise or hosted, with net2phone’s SIP Trunking, we make it easy for our partners to rollout quick and problem-free installations.”

net2phone’s SIP Trunking and hosted PBX services provide clients with access to unlimited international calling from the US and Canada to 23 popular international destinations for a low, flat monthly rate.  Backed by IDT Telecom, and certified by 3CX, net2phone SIP Trunking is efficient and reliable.

Jonah Fink, President of net2phone, said, “We are delighted to team with ABPTech.  Our SIP Trunking solution not only provides a superior technical solution, it also offers ABPTech’s partners the freedom to price our solution to meet their customers’ requirements because we provision end users exclusively through the channel.”

About ABP Technology:
ABP Technology is a wholly owned, value-added distributor of IP Technology products and solutions based in Dallas, TX.  ABPTech serves throughout the Americas including the United States, Latin America, Canada and the Caribbean.  The ABPTech portfolio includes best-of-breed solutions within the IP Communications Voice & Video, IP Surveillance & Physical Security and IP Infrastructure Wired & Wireless spaces.  The company serves Technology Partners of many kinds including but not limited to, IT Integrators, Resellers, MSPs, ITSPs and WISPs.  Find out more at www.abptech.com.

About net2phone:
net2phone is a rapidly-growing unified communications as a service (UCaaS) provider. net2phone’s flagship hosted PBX and SIP Trunking services are offered exclusively through channel partners. net2phone is a subsidiary of IDT Corporation (NYSE: IDT), a global provider of telecommunications and payment services.  To learn more, please visit net2phone.com, connect with us on LinkedIn, or email partner@net2phone.com.  

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/abp-technology-announces-partnership-with-net2phone-300448491.html

SOURCE IDT Corporation

NEWARK, N.J., March 2, 2017 – IDT Corporation (NYSE: IDT), a global provider of communication and payment services, today released a redesigned version of its BOSS Revolution® app that makes staying close to friends and family around the world easier than ever with FREE app2app calling and messaging.

The new BOSS Revolution app – which still features affordable, high-quality international long distance calling – now brings voice, messaging, picture and video sharing together in one easy-to-use application. 

“Our customers have a choice. They can make low-cost calls to landlines or mobile phones or use the new app2app capabilities to call or text for FREE,” said Bill Pereira, IDT Telecom’s Chief Executive Officer. 

The BOSS Revolution app also integrates seamlessly with the new BOSS Revolution Money app to provide easy and secure money transfers, mobile airtime top-ups and electronic gift cards.  The two BOSS Revolution apps work in unison to bring family and friends together wherever they are.

“Together, the BOSS Revolution and BOSS Revolution Money apps are the best way to make sure that those you care about are always close. Our customers can Talk. Text. Send and Share. They’ve got it all,” Pereira added.

BOSS Revolution app customers can recharge in the app or online with a credit or debit card, a BOSS Revolution Recharge Card, or Google Play account.  Customers can also recharge with cash at any BOSS Revolution retailer in eight countries including the US, Canada and the UK.

The new app is available in several languages including English, Spanish, French, German and Portuguese.  In addition, app users can invite their friends to download the app and start talking or messaging for free with the app2app features.  The BOSS Revolution app is free for download in the iTunes App and Google Play stores in more than 200 countries worldwide.

About IDT Corporation:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution® and Net2Phone® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. For more information on IDT, visit www.idt.net.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/boss-revolution-releases-major-update-to-its-popular-calling-app-300416470.html

SOURCE IDT Corporation

NEWARK, N.J., Feb. 28, 2017 — IDT Corporation (NYSE: IDT), a global provider of communications and payment services, has scheduled its report of second quarter fiscal year 2017 financial and operational results for Monday, March 6, 2017.

The second quarter (the three months ended January 31, 2017) earnings release will be issued and posted on the IDT investor relations website (www.idt.net/ir) at approximately 4:30 PM ET.

IDT will host an earnings conference call beginning at 5:30 PM ET with management’s discussion of results, outlook and strategy followed by Q&A with investors. 

To listen to the call and participate in the Q&A, dial toll-free 1-888-348-8417 (from U.S.) or 1-412-902-4243 (international) and request the IDT Corporation call.

A recording of the conference call can be accessed one hour after the call concludes through March 13, 2017 by dialing 1-844-512-2921 (toll free from the US) or 1-412-317-6671 (international) and providing this pin code: 10101016.  The recording will also be available via streaming audio at the IDT investor relations website (www.idt.net/ir) following the call.

About IDT Corporation:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution^® and Net2Phone^® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls.  For more information on IDT, visit www.idt.net.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/idt-corporation-to-report-second-quarter-fiscal-year-2017-results-300414950.html

SOURCE IDT Corporation

NEWARK, N.J., Feb. 23, 2017 – IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today announced the introduction of BOSS Revolution Money.  The new app lets users send money transfers, mobile airtime and electronic gift cards to family and friends easily and securely. 

The BOSS Revolution Money app’s service is an ideal way to send money from the US to 49 countries worldwide, directly from an Android device or iPhone, any time of day.  Sending money with the app is easy and affordable.   Customers can try the app’s money transfer service for free – there is no charge for the first money transfer transaction up to $300.  For all transactions after the first, customers enjoy competitive foreign exchange rates and low transfer fees. See the BOSS Revolution money transfer website for additional details: https://www.bossrevolution.com/en-us/services/money-transfer.

Senders can choose from over 300,000 payout points, including in-country bank deposit, cash pickup at participating banks and retailers, mobile wallets and home cash delivery.  Once the transfer has been placed, the BOSS Revolution Money app lets the sender make a free international phone call to the recipient to let them know that funds are on the way.  The sender will also receive alerts via text and email on the status of the transaction at every step – from submission through completion – thus providing peace of mind until the recipient has the funds. 

The BOSS Revolution Money app also makes it simple to recharge the prepaid mobile phones of friends and family in over 70 countries worldwide just by entering the recipient’s phone number and a top-up amount. 

Within the US, the BOSS Revolution Money app similarly makes sending electronic gift cards for America’s top retail brands and restaurants effortless.  It’s a wonderful way to say ‘thank you’ or to give a gift for any occasion.

“BOSS Revolution has earned the trust of millions of customers who rely on our voice calling service to stay in touch with their loved ones around the world.  Now, the BOSS Revolution Money app makes it simple, secure and affordable to send money, airtime and gift cards to family and friends,” said Bill Pereira, CEO of IDT Telecom. 

Once a customer has used the BOSS Revolution Money app to send money, airtime or a gift to a friend or family member, repeat transactions are easy.  With just a few quick taps, the customer can initiate, review and submit a repeat transaction.  All transactions on the app are transmitted securely and protected by the BOSS Revolution money back guarantee.

The BOSS Revolution Money app is a sister app to the award-winning Boss Revolution Calling app.  Both are free for download in the US at the iTunes and Google Play app stores.

About IDT Corporation:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution® and net2phone® brands.  BOSS Revolution Money’s international money transfer is a service of IDT Payment Services., Inc. and is available where licensed.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. For more information on IDT, visit www.idt.net.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/idt-introduces-the-boss-revolution-money-app-300412072.html

SOURCE IDT Corporation

NEWARK, N.J., Jan. 12, 2017 – PicuP, a new cloud-based phone service powered by net2phone, has successfully completed beta testing and is launching its powerful inbound call management offering. PicuP provides start-ups and small businesses with a free basic service and ultra-affordable monthly plans. net2phone is a division of IDT Corporation (NYSE: IDT).

PicuP’s automated, self-service platform allows businesses to professionally answer, route, and manage their inbound calls. It includes customized welcome greetings, voicemail to email, find-me-follow-me, and user-defined hunt groups – features that were previously only available to larger enterprises with significant telecom budgets. PicuP allows business owners, their partners and their employees to operate and manage calls directly from their existing mobile phones, ensuring that they will never miss a call.

“We intend to grow PicuP into the premier communications solution for the approximately 30 million very small American businesses, sole proprietorships and start-ups,” said Jonah Fink, President of net2phone. ”We are ready to invest in these businesses by providing them with a local phone number and up to 100 minutes of inbound calls for free. We don’t even ask for a credit card during our sign-up process. Our investment in these businesses will help them to grow. And as their business grows, we offer flexible monthly plans to help them upgrade their communications capabilities while continuing to enjoy big savings.”

Businesses that expect to use less than 100 minutes of inbound calls per month can select PicuP’s free plan. Enterprises that require more capacity can choose among these three ultra-affordable monthly PicuP plans:

• Short – The $9.99 PicuP Short Plan provides a free local or toll free number and up to 300 minutes for no additional charge;
• Tall – The $19.99 PicuP Tall Plan provides one local number, one toll free number and up to 750 minutes of inbound calling;
• Grande – The $29.99 PicuP Grande Plan provides the customer’s choice of three phone numbers (local or toll free) and up to 1500 minutes of inbound calling.

“We are launching an innovative, highly automated, inbound call service that’s a great solution out-of-the-box and will get even better over time,” said Zali Ritholtz, net2phone’s Chief Operating Officer. “Business owners will love the quality and features of today’s PicuP service. In the coming months, we will add powerful new capabilities as we work to make PicuP a multi-channel, one-stop business communications solution. 

“In the near term, we will incorporate the innovative customer-facing messaging and live chat management service pioneered by LiveNinja, which was recently acquired by net2phone. We are tremendously excited by the potential of this technology and its game-changing communications management features,” Ritholtz concluded.

About net2phone:
net2phone provides innovative and affordable cloud-based telephony services to small and mid-sized businesses. net2phone’s flagship hosted PBX and SIP Trunking services are offered exclusively through channel partners both in the United States and select countries overseas. net2phone’s PicuP service operates an automated communications platform that enables start-ups and other very small businesses to professionally answer, route, and manage incoming calls and other communications.

net2phone is a subsidiary of IDT Corporation (NYSE: IDT), a leading global provider of telecommunications and payment services. To learn more, please visit www.net2phone.com or follow us on Twitter at @net2phone.

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. IDT Corporation’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/picup-goes-live-300388943.html

SOURCE IDT Corporation

NEWARK, N.J., Jan. 9, 2017 – National Retail Solutions (NRS), operator of one of the nation’s fastest growing point-of-sale networks for independent retailers, said today that over 1700 customers nationwide have joined its point-of-sale (POS) network during its first year of operations. The company said that strong demand for its POS terminals and related services from retail customers will help further accelerate growth of its network in 2017.  NRS is a subsidiary of IDT Corporation (NYSE: IDT).

“NRS is off to an extremely strong start,” said Elie Y. Katz, President of NRS. “Bodegas and other independent retailers are hungry for our tools to help them compete against retail chains and big box stores.  The NRS platform helps them to boost sales and drive customer traffic by enabling them to utilize special offers and coupons from consumer package goods (CPG) suppliers.  From the CPG perspective, our platform provides unprecedented access and reach into the large and dynamic, ethnically focused consumer markets that these largely urban retailers serve.”

The POS terminals that NRS has deployed with bodegas and other independent retailers are at the heart of its platform.  The terminals, which include customer and retailer facing displays, scanners, and beacon technologies, enable retailers to offer and accept coupons and special offers from leading CPG providers.  CPG suppliers’ offers can be transmitted via the NRS platform to retailers and directly to the over 3.2 million members of NRS’ popular rewards program, BR Club.

“For years, CPG suppliers have sought more effective ways to market to urban consumers.  This large and diverse consumer segment typically purchases consumables from local, independent, ethnically-focused neighborhood stores,” said Eli Korn, VP of NRS.   “Through our platform, CPG’s can reach both urban consumers and the independent retailers who serve them with targeted promotions, coupons, and POS advertising, while also providing a means to efficiently collect and analyze the associated transactional data.”

About National Retail Solutions (NRS):
NRS operates a point-of-sale (POS) terminal based platform to bodegas and other independent retailers nationwide.  The NRS platform provides a robust portfolio of tools to help these retailers compete more effectively including loyalty programs, consumer coupons, wholesaler discounts, and integration with Boss Revolution^® voice and payment services.  Consumer package goods (CPG) suppliers access the NRS platform to provide promotions, coupons and special offers.  The NRS platform provides CPG suppliers with unprecedented access and reach into the urban, ethnically focused consumer markets predominantly served by bodegas and other independent retailers.  NRS is a subsidiary of IDT Corporation (NYSE: IDT).

About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution^® and Net2Phone^® brands.  IDT Telecom’s wholesale business is a leading global carrier of international long distance calls.  For more information on IDT, visit www.idt.net.

All statements within this release that are not purely about historical facts, including, but not limited to, those which use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors.  IDT’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nrs-achieves-success-helping-independent-retailers-compete-300387732.html

SOURCE IDT Corporation