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IDT Reports Results for the First Quarter Fiscal 2007

NEWARK, NJ — December 7, 2006 — IDT Corporation (NYSE: IDT, IDT.C) announces operating results for the first quarter of fiscal 2007, the three months ended October 31, 2006.

·         Revenues: $522.3 million, down 6.0% year-over-year.

·         Net income: $213.9 million, versus a net loss of $27.9 million one year ago.

·         Net income reflects a one-time gain of $240.0 million relating to the sales of IDT Entertainment and Toucan.

·         Diluted earnings per share: $2.43, versus a loss per share of ($0.28) one year ago.

·         Cash, cash equivalents and marketable securities totaled $807.9 million as of the end of the first quarter.

The following table summarizes the operating performance of IDT’s continuing businesses:

 

 

Revenue

 

Income (Loss) from Operations

$ millions

Q1 ’07

Q4 ’06

Q1 ’06

 

Q1 ’07

Q4 ’06

Q1 ’06

IDT Retail Telecom

$322.5

$373.8

$382.7

 

$0.9

($4.0)

$1.7

IDT Wholesale Telecom

139.3

132.0

140.8

 

(0.9)

(5.1)

(5.1)

     IDT Telecom Total

461.9

505.8

523.5

 

0.0

(9.1)

(3.4)

IDT Capital

60.2

49.6

31.6

 

0.2

(9.2)

(6.7)

IDT Solutions

0.2

0.2

1.4

 

(1.1)

(6.8)

(6.2)

Corporate

      

      

      

 

(14.6)

(19.3)

(16.8)

     Total IDT

$522.3

$555.5

$556.4

 

($15.5)

($44.3)

($33.1)

 

Columns in table may not add due to rounding.

See attached document for entire release