NEWARK, NJ–(Marketwired – December 03, 2015) – IDT Corporation (NYSE: IDT) reported diluted earnings per share (EPS) of $0.18 and Non-GAAP diluted EPS* of $0.35 on revenue of $390.6 million for the first quarter of its fiscal year 2016, the three months ended October 31, 2015.

1Q16 HIGHLIGHTS
(Results for 1Q16 are compared to 1Q15)

• Consolidated revenue decreased 5.4% to $390.6 million;
• Consolidated Adjusted EBITDA* increased 24.6% to $13.0 million;
• Net cash provided by operating activities increased to $14.0 million from $8.3 million;
• IDT’s Board of Directors increased the quarterly dividend to $0.19 for the first quarter of fiscal 2016.

IDT’s Chief Executive Officer Shmuel Jonas said, “IDT again delivered strong bottom line results increasing Adjusted EBITDA nearly 25% year over year to $13.0 million. Revenue declined after regulatory changes in Mexico resulted in substantial, industry-wide rate reductions in the heavily trafficked US-to-Mexico route. Exclusive of Mexico, Boss Revolution, our flagship voice calling and payments service, continued to grow. In light of our continued operating profitability and strong financial condition, IDT’s Board of Directors increased the quarterly dividend to $0.19 for the first quarter of fiscal 2016.

“Earlier today, Zedge, our popular app to get the coolest ringtones, wallpapers and other content for mobile devices, was named one of the ‘Best Apps of 2015’ by Google Play. Congratulations to the Zedge team on a job well done. In the first quarter, Zedge increased its revenue 26% compared to the year ago quarter. The increase reflects strong advertising sales driven by continued growth of Zedge’s user base for both Android and iOS.

“Looking ahead, we are making good progress toward our goal of spinning-off Zedge to our shareholders, and expect this distribution to occur in the second quarter of calendar 2016. We also have targeted the second quarter for the launch of a new version of the popular Boss Revolution app, featuring two exciting new features — peer-to-peer voice calling and instant messaging — that we expect will drive long term growth,” he concluded.

*Throughout this release, Adjusted EBITDA, Non-GAAP net income and Non-GAAP diluted EPS 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 reconciliation to the most directly comparable GAAP measure.

1Q16 CONSOLIDATED RESULTS

1Q16 OPERATING RESULTS BY SEGMENT

(Results are for 1Q16 and comparisons are to 1Q15 unless otherwise noted)

TPS

IDT’s Telecom Platform Services (TPS) segment accounted for 98.7% of IDT’s revenue in 1Q16. TPS markets and distributes multiple communications and payment services across four broad business verticals: Retail Communications, Wholesale Carrier Services, Payment Services and Hosted Platform Solutions.

TPS’ quarterly minutes of use were 7.16 billion compared to 7.48 billion (-4.2%) in 1Q15 and to 7.47 billion (-4.0%) in 4Q15. The decreases primarily reflect a decline in Retail Communications minutes, triggered primarily by the decline in traffic in IDT’s US-to-Mexico route.

TPS’ revenue was $385.7 million compared to $403.8 million (-4.5%) in the year ago quarter and $400.8 million (-3.8%) in the prior quarter. The decreases are primarily the result of a decline in minutes in Retail Communications and, year over year, lower average revenue-per-minute in Wholesale Carrier Services.

Retail Communications revenue totaled $173.7 million in 1Q16 compared to $184.4 million (-5.8%) in the year ago quarter. Growth in IDT’s flagship Boss Revolution international calling service, which is the dominant offering in the Retail Communications vertical, was 0.5% year over year but declined 3.9% sequentially. Following regulatory changes intended to increase domestic competition in the Mexican telecommunications market, the cost of terminating international calls to Mexico has declined significantly. As a result, many of IDT’s competitors — including some of the large US mobile operators — began offering free or low cost unlimited Mexico calling as part of their monthly pricing plans. These dynamics negatively impacted Retail Communications revenue generated on the heavily used US-to-Mexico corridor. Exclusive of the US-to-Mexico route, Boss Revolution’s international calling service revenue increased in 1Q16 by approximately 5% compared to the year ago quarter.

Wholesale Carrier Services’ revenue decreased to $148.1 million (-6.2%) in 1Q16, primarily resulting from a decrease in revenue-per-minute, reflecting a shift to lower revenue, higher margin corridors.

Payment Services’ revenue in 1Q16 increased to $55.5 million (+8.5%) on growth in international airtime top-up sales.

Hosted Platform Solutions’ revenue decreased to $8.4 million in 1Q16 (-19.0%). The decrease was in-line with expectations and primarily reflects reductions in rates for telephony services provided by IDT to its cable operator customers.

TPS’ direct cost of revenue as a percentage of TPS’ revenue was 83.8% in 1Q16, a decrease of 80 basis points year over year and 50 basis points sequentially. The improvement is due primarily to higher revenue-per-minute in Retail Communications, and to a shift in Wholesale Carrier Services’ traffic to lower revenue but higher margin routes.

TPS’ SG&A expense decreased to $48.2 million from $51.2 million (-5.9%) in 1Q15 and from $49.4 million (-2.4%) in 4Q15. Expressed as a percentage of TPS’ revenue, TPS’ 1Q16 SG&A decreased to 12.5% from 12.7% in 1Q15 and increased from 12.3% in 4Q15. The year over year decrease primarily reflects reduced employee compensation costs, after headcount reductions implemented in fiscal 2015, and reduced marketing and advertising expense compared to the year ago quarter.

TPS’ Adjusted EBITDA increased to $14.1 million from $11.0 million (+28.5%) in 1Q15 and from $13.4 million (+5.6%) in 4Q15. The year over year and sequential increases were driven by the reduction in SG&A expense, which more than compensated for decreases in revenue.

TPS’ depreciation and amortization expense was $4.4 million in 1Q16, an increase from $3.8 million (+16.6%) in 1Q15 and $4.3 million (+1.6%) in 4Q15. Depreciation increased due to higher levels of capital expenditures in recent periods to support new product developments, including IDT Messaging, Net2Phone Office, and the Boss Revolution Calling App.

TPS’ income from operations increased to $9.7 million from $5.7 million (+71.5%) in 1Q15 and $8.8 million (+10.4%) in 4Q15. Severance expense was nil, $1.5 million and $0.2 million in 1Q16, 1Q15 and 4Q15, respectively.

CPS

Consumer Phone Services (CPS) sells local and long distance services domestically in 11 states, marketed under the brand name IDT America. CPS has been in harvest mode for the last decade, maximizing revenue from current customers while maintaining SG&A and other expenses at the minimum levels essential to operate the business. Results this quarter conformed to expectations.

CPS’ revenue was $1.8 million compared to $2.3 million (-20.9%) in 1Q15 and $2.0 million (-7.5%) in the prior quarter. CPS’ income from operations was $339 thousand in 1Q16, compared $355 thousand (-4.5%) in 1Q15 and $273 thousand (+24.1%) in 4Q15.

ALL OTHER

All Other includes Zedge — a popular platform for mobile phone consumers to obtain free customization content — IDT’s real estate holdings and other small businesses. All Other previously included Fabrix, a software development company specializing in highly efficient cloud-based video processing, storage and delivery. Fabrix’s operations were consolidated into IDT for all periods up to and including the first two months of 1Q15, at which point Fabrix was sold and deconsolidated.

As of October 31, 2015, Zedge’s app, available on Android, iOS and Windows Mobile, had surpassed 173 million cumulative installs, increasing from 120 million (+44%) a year earlier and 159 million (+9%) at July 31, 2015. Zedge has averaged among the top thirty most popular apps in the Google Play store in the U.S. for the last five years and is currently ranked in the top ten most popular free apps in the iTunes Entertainment category. As a result of Zedge’s large, active user base, it offers advertisers, game developers, musicians and artists a scalable, non-incentivized, user acquisition platform with global reach.

Zedge’s revenue in 1Q16 was $2.6 million, an increase from $2.0 million (+26.4%) in 1Q15 and from $2.4 million (+5.4%) in 4Q15. The year over year and sequential revenue increases were driven by continued growth in users and impressions, and increased revenue per impression, across both the Android and iOS platforms.

All Other’s revenue was $3.1 million in 1Q16 compared to $6.8 million (-54.8%) in 1Q15 and $3.0 million (+3.0%) in 4Q15. (Fabrix contributed $4.2 million to All Other’s revenue in 1Q15 prior to its sale.) Excluding Zedge, IDT’s real estate holdings generated the balance of All Other’s revenue in 1Q16.

All Other’s income from operations in 1Q16 was $430 thousand compared to $76.5 million in 1Q15 and $449 thousand in 4Q15. All Other’s income from operations in 1Q15 included a gain on the sale of IDT’s interest in Fabrix of $75.1 million.

OTHER CONSOLIDATED RESULTS

Consolidated results for all periods presented include corporate overhead. In 1Q16, corporate G&A expense was $2.6 million compared to $3.0 million (-13.1%) in the year ago quarter and $2.3 million (+12.0%) in the prior quarter.

1Q16 net income attributable to IDT decreased to $4.2 million from $80.2 million in the year ago quarter and increased from $1.3 million in 4Q15. Net income in 1Q15 reflected a gain on the sale of IDT’s interest in Fabrix of $75.1 million. Net income attributable to IDT in 1Q16 included income tax expense of $2.9 million compared to $486 thousand in 1Q15 and $3.8 million in 4Q15.

At October 31, 2015, IDT had $152.8 million in unrestricted cash, cash equivalents and marketable securities. Additionally, at that date, IDT reported $81.7 million in current restricted cash and cash equivalents, which included $81.0 million of customer deposits held by IDT’s Gibraltar-based bank. Notes payable, which consisted of a $6.4 million mortgage on real estate at July 31, 2015, was reduced to zero after the mortgage was paid on the maturity date. Current assets totaled $327.6 million and current liabilities were $331.4 million.

Net cash provided by operating activities during 1Q16 increased to $14.0 million compared to $8.3 million during 1Q15 and $2.8 million in 4Q15. For the same periods, capital expenditures declined to $5.5 million compared to $6.1 million and $5.7 million, respectively.

DIVIDEND

IDT has increased its quarterly dividend to $0.19 per share of Class A and Class B common stock for the first quarter of its fiscal year 2016. The dividend will be paid on or about December 18, 2015 to stockholders of record as of the close of business on December 14^th. The ex-dividend date will be December 10^th. This distribution is an ordinary dividend for tax purposes.

IDT EARNINGS ANNOUNCEMENT & SUPPLEMENTAL INFORMATION

IDT will host a confe
rence call at 5:30 PM ET today, December 3^rd, beginning with management’s discussion of financial and operational results, business outlook and strategy, followed by Q&A.

To listen to the call and participate in the Q&A, dial toll-free 1-877-300-8521 (from U.S.) or 1-412-317-6026 (international) and request the IDT Corporation call.

An audio replay of the conference call will be available one hour after the call concludes through December 11, 2015 by dialing 1-877-870-5176 (toll free from the U.S.) or 1-858-384-5517 (international) and providing the replay conference code: 10076314. An audio replay will also be available by streaming from the IDT website investor relations site: www.idt.net/ir shortly after the call concludes.

Copies of this release – including the reconciliation of the non-GAAP financial measures that are both used herein and referenced during management’s discussion of results — are also available in the Investor Relations portion of IDT’s website.

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. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for mobile content discovery and acquisition. 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 First Quarter Fiscal 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 the first quarters of fiscal 2016 and 2015, 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, selling, general and administrative expense and research and development expense. Another way of calculating Adjusted EBITDA is to start with income from operations, add depreciation and amortization, and severance expense, and subtract the gain on the 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, and stock-based compensation, and subtracts the gain on the sale of interest in Fabrix Systems Ltd.

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 2016 and fiscal 2015 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 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.

Gain on the sale of interest in Fabrix Systems Ltd., which is a component of income from operations, is excluded from the calculation of Adjusted EBITDA, non-GAAP net income and non-GAAP EPS. From time-to-time, IDT will select and incubate promising early stage businesses outside of its core business for eventual sale or spin-off to its stockholders. However, such gains or losses do not occur each quarter nor are they part of IDT’s or the relevant segment’s core operating results.

The other calculation of Adjusted EBITDA consists of revenues less direct cost of revenues, selling, general and administrative expense and research and development 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.

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.

NEWARK, NJ–(Marketwired – November 12, 2015) – IDT Corporation (NYSE: IDT) will report its financial and operational results for the first quarter of its fiscal year 2016 on Thursday, December 3, 2015 after market close.

The first quarter (the three months ended October 31, 2015) earnings release will be issued over a wire service, filed on a Form 8-K and posted on the IDT investor relations website (www.idt.net/ir) at approximately 4:30 PM ET on December 3rd.

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 1-877-300-8521 (from U.S.) or 1-412-317-6026 (international) and request the IDT Corporation call.

An audio replay of the conference call will be available one hour after the call concludes through December 11, 2015 by dialing 1-877-870-5176 (toll free from the U.S.) or 1-858-384-5517 (international) and providing the following replay conference code: 10076314. The replay will also be available by streaming from the IDT investor relations website (www.idt.net/ir) shortly after 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. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

NEWARK, NJ–(Marketwired – November 02, 2015) – Over 600 employees, family members and friends, as well as Newark Mayor Ras Baraka, New Jersey Lt. Governor Kim Guadagno, and U.S. Senator and presidential candidate Lindsey Graham gathered in Newark, NJ last week to dedicate IDT Corporation’s (NYSE: IDT) newly renovated headquarters building and mark its 25^th anniversary as a leader in the telecommunications industry.

“This is a great day for IDT,” said its founder and Chairman, Howard Jonas. “President Ronald Reagan said that ‘America is too great for small dreams.’ IDT has been successful for a quarter century because we aim high, and then hire great people to execute. IDT has been a pioneer in the telecommunications industry for 25 years, and each of the companies that we have spun-off to our shareholders in recent years — IDW Media, Genie Energy, and Straight Path Communications — has created shareholder value with a bold, innovative approach with huge upside potential.”

The lobby and three floors of the IDT building at 520 Broad Street in Newark have been completely renovated to provide state-of-the art, open-floor-plan space for over 500 employees. Genie Energy, which was spun off from IDT in 2013, shares the space with IDT.

IDT Corporation was founded in 1990 by its Chairman, Howard Jonas, who developed an automated call-back system that dramatically lowered the cost of international long distance calling. Today, IDT provides retail and wholesale telecommunications and payment services to help immigrants and the under-banked communicate and share resources around the world.

The IDT headquarters building is an 18-story 500,000 SF office space featuring views of New York City and Newark’s Washington Park. The Washington Park neighborhood in Newark is the epicenter of Newark’s Renaissance 3.0, which includes a planned 25,000 square-foot accelerator for new technology ventures adjacent to the Rutgers Business School.

About IDT Corporation:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

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NEWARK, NJ–(Marketwired – October 08, 2015) –

WHAT: IDT Corporation (NYSE: IDT) will dedicate its newly renovated headquarters and celebrate its 25^th anniversary with a ribbon cutting ceremony

WHERE: IDT Building, 520 Broad Street; Newark, NJ (Atlantic Street Entrance)

WHEN: Monday, October 26^th at 5 PM

ADDITIONAL INFORMATION: IDT Corporation was founded in 1990 by its Chairman, Howard Jonas, who developed an automated call-back system that dramatically lowered the cost of international long distance calling. Today, IDT provides retail and wholesale telecommunications and payment services to help immigrants and the under-banked communicate and share resources around the world.

IDT’s offices at 520 Broad Street in Newark have been completely renovated to provide state-of-the art, open-floor-plan space for over 500 employees. Genie Energy, which was spun off from IDT in 2013 has also moved in. Once completed, the sleek, renovated space will be LEED certified.

The international style, 18-story IDT building at 520 Broad Street was designed and built by the George A. Fuller Company in 1957 to house the Mutual Benefit Life Insurance Company. The Fuller Company also built Pennsylvania Station, the Flatiron Building, R.H. Macy’s on 34th Street and the New York Times Building on Times Square.

The IDT building overlooks Washington Park, the epicenter of Newark’s Renaissance 3.0, which includes a planned 25,000 square-foot accelerator for new technology ventures adjacent to the Rutgers Business School.

NEWARK, NJ–(Marketwired – September 30, 2015) – IDT Corporation (NYSE: IDT) will report its financial and operational results for the fourth quarter and full year fiscal year 2015 on Tuesday, October 13, 2015 after market close.

The fourth quarter and full year (the three months and twelve months ended July 31, 2015) earnings release will be filed on a Form 8-K and posted on the IDT investor relations website (www.idt.net/ir) at approximately 4:30 PM ET on October 13^th. As in prior quarters, the earnings release will not be issued over a wire service.

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 1-877-300-8521 (from U.S.) or 1-412-317-6026 (international) and request the IDT Corporation call.

An audio replay of the conference call will be available one hour after the call concludes through October 19, 2015 by dialing 1-877-870-5176 (toll free from the U.S.) or 1-858-384-5517 (international) and providing the following replay PIN: 10071762. The replay will also be available by streaming from the IDT investor relations website (www.idt.net/ir) shortly after the call.

About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for a mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

NEWARK, NJ–(Marketwired – September 25, 2015) – The Board of Directors of IDT Corporation (NYSE: IDT) today declared a dividend of $0.18 per share of its Class A and Class B common stock for the fourth quarter of its fiscal year 2015.

The dividend declared today will be paid on or about October 15, 2015 to stockholders of record as of the close of business on October 7, 2015. The ex-dividend date will be October 5, 2015. The distribution will be treated as an ordinary dividend for tax purposes.

About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for a mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

NEWARK, NJ–(Marketwired – September 16, 2015) – IDT^® Corporation (NYSE: IDT), a leading provider of international telephony and payment services through its flagship Boss Revolution^® brand, said today that it has reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba’s national telecommunications company, to provide international airtime top-up service. Under the agreement, Boss Revolution’s airtime top-up to Cuba will be the first offered directly by a US-based telecommunications company.

IDT’s Boss Revolution customers can purchase airtime credit with US dollars for any Cubacel customer from any Boss Revolution retailer, online at www.bossrevolution.com or through the Boss Revolution app. Cubacel customers can use airtime credit for both domestic and international calling. Previously, IDT and other US-based providers resold international top-up services offered by providers based outside of the US.

“Boss Revolution customers can now transfer value to friends and family in Cuba directly through Boss Revolution, rather than relying on a third party to provide the underlying service,” said Bill Pereira, CEO of IDT Telecom. “Looking ahead, we expect to partner with ETECSA to develop additional, innovative offerings serving the Cuban-American community.”

In March 2015, IDT became the first US based telecommunications company to terminate international long distance voice calls directly with ETECSA. Since then, IDT has experienced a significant increase in call volume and improved call quality on the US – Cuba route.

About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular, eponymous app for a mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

Caution Concerning Forward Looking Statements:
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.

NEWARK, NJ–(Marketwired – August 27, 2015) – IDT Corporation (NYSE: IDT) today announced that its Board of Directors has approved a plan to reorganize the Company into three separate entities by spinning off two business units to its stockholders. The reorganization marks the next stage in IDT’s tradition of incubating and spinning-off successful businesses.

The three separate companies will feature IDT Telecom, Zedge, and IDT’s other holdings:

• IDT Telecom is a global provider of retail and wholesale telecommunications and payment services. IDT Telecom’s retail offerings include prepaid voice and payment services primarily to immigrant communities under the Boss Revolution brand. IDT Telecom’s wholesale carrier business is a leading, global carrier of international long distance voice traffic.

• Zedge provides one of the most popular content platforms for mobile device personalization including ringtones, wallpapers, home screen icons and game recommendations. Its smartphone app, available in both Google Play and iTunes, has been installed over 160 million times and has averaged among the top twenty most popular apps in the Google Play store in the US for the past five years. IDT owns approximately 83% of Zedge.

• IDT’s other holdings comprise a Gibraltar-based bank, real estate holdings including its headquarters building and garage in Newark, NJ and an operations building in Piscataway, NJ as well as interests in other, mainly early stage, business initiatives. This entity will retain cash resources for investment in technology and other ventures.

“Throughout its history, IDT has spun-off businesses to accelerate their growth and generate value for our stockholders,” said Howard Jonas, founder and Chairman of IDT Corporation. “Consistent with that tradition, we intend to separate the various businesses and assets within IDT into three companies, provide them with focused management teams, and maximize their potential for long term value creation. We will announce additional details of the spin-offs as developments warrant.”

Since 2009, IDT has spun off the following companies to its stockholders, each of which now operates as an independent public company: IDW Media Holdings (f/k/a CTM Media Holdings) (OTC PINK: IDWM), an integrated media company whose holdings include IDW Publishing, the award-winning, San Diego-based comic-book and graphic novel publisher; and CTM Media Group, a distributor of print and digital advertising; Genie Energy (NYSE: GNE, GNEPRA), which holds one of the largest independent energy retailers in the Northeast as well as an exclusive oil and gas exploration license in Northern Israel; and Straight Path Communications Inc., (NYSE MKT: STRP) which holds an extensive portfolio of 39GHz and 28GHz wireless spectrum and an intellectual property portfolio focused on communications over computer networks.

The reorganization and the specific components are subject to changes and both internal and third party contingencies, and must receive final approval by IDT’s Board of Directors and other bodies. IDT is targeting completion of the reorganization in CY 2016.

About IDT Corporation:

IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for a mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

NEWARK, N.J., Aug. 4, 2015 — IDT Corporation, a leading provider of prepaid international long distance service, has slashed the cost of calling to Mexico for its Boss Revolution customers. The Boss Revolution Unlimited Plan now offers unlimited minutes* to all destinations in Mexico, including cellphones, for just $5 a month. Those who prefer to pay by the minute instead can enjoy new low rates from the Boss Revolution mobile app — just 1.9 cents per minute to any cell phone in Mexico, and per minute rates to landlines as low as 1.5 cents.

The Boss Revolution Unlimited Plan is available at all Boss Revolution retail locations and online at www.bossrevolution.com.

“While the big telecom carriers force consumers into long term contracts and charge hefty monthly fees, we offer a better way to keep in touch with friends and family. The Boss Revolution Unlimited Plan allows you to make all the calls you want to anywhere in Mexico and many other countries for just five dollars a month,” said Yona Katz, COO of IDT Telecom. “You don’t need an expensive long-term contract to use Boss Revolution. You can easily access your plan from the Boss Revolution mobile app or from any cell phone or landline phone in the U.S.”

The Boss Revolution mobile app is available free on iTunes and Google Play in both English and Spanish. The app makes international long distance service convenient and affordable. From the app, customers simply tap an entry in their contact list to initiate a call. And Boss Revolution offers new customers a $1 credit just to try the crystal clear Boss Revolution long distance calling service. Find out more at https://www.bossrevolution.com/apps.

* The Boss Revolution Unlimited Plan is intended only for personal, non-commercial use and is subject to the terms and conditions set forth on the Boss Revolution Website www.bossrevolution.com. IDT reserves the right to review accounts and take further action, including, but not limited to, immediate suspension of service if usage is beyond normal standards for typical customers using the same service or that violates the terms and conditions on the Website.

About IDT Corporation:

IDT Corporation (NYSE:IDT), through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for a mobile content discovery and acquisition.   For more information on IDT, visit www.idt.net.

CONTACT: Investor Relations
         IDT Corporation
         Bill Ulrey
         Phone: (973) 438-3838
         E-mail: invest@idt.net