NEWARK, N.J. –March 10, 2005–IDT Corporation (NYSE: IDT, IDT.C) today reported quarterly revenues of $608.8 million for the second quarter of its fiscal 2005, the three months ended January 31, 2005. Second quarter revenues increased 15.5% versus the second quarter of fiscal 2004’s revenues of $527.0 million and decreased 3.3% from the prior quarter’s $629.7 million. Consolidated gross margin of 26.5% for the second quarter of fiscal 2005 represents the highest gross margins achieved in the last six years.
The net loss for the second quarter of fiscal 2005 was $17.7 million, or ($0.19) per share, compared to net income of $18.4 million, or $0.20 per diluted share, in the second quarter of fiscal 2004, and compared to a net loss of $11.7 million, or ($0.12) per share, in the first quarter of fiscal 2005.
As of January 31, 2005, cash and cash equivalents, marketable securities, and restricted cash and marketable securities stood at $1,016.2 million, including $118.0 million held by Net2Phone.
Loss from operations for the second quarter of fiscal 2005 was $24.6 million, compared to losses from operations of $16.2 million and $11.9 million for the second quarter of fiscal 2004 and the first quarter of fiscal 2005, respectively.
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