IDT Corp. Makes the FORTUNE 1,000 List |
IDT Corp. Makes the FORTUNE 1,000 List
Company Outperforms All Other Telecommunications Companies in Profitability and Return to Investors
NEWARK, N.J. – April 11, 2002 – IDT Corporation (NYSE:IDTB, IDT), a Leading multinational carrier and telephone company, is pleased to announce that the Company has been ranked for the first time in this year’s FORTUNE 1,000. The list appears in the FORTUNE Magazine issue of April 15, 2002.
The FORTUNE 1,000 ranks the largest publicly-traded U.S. corporations By annual revenues. At $1.231 billion, the magazine noted IDT’s 2001 Revenues are up 13% from the year before. In addition, the magazine rated IDT first among all ranked telecommunications companies for total return to investors and for profitability.
“From a basement in the Bronx to the FORTUNE list of America’s largest companies in a little over 10 years, it was a dream that seemed as distant as the stars,” said Howard Jonas, IDT’s Chairman and Founder. “But IDT’s spectacular record is solid proof that the American dream is still available to anyone with a dream and a team of great people who believe in themselves. And of course, the fact that Fortune expanded the list of largest U.S. companies from five-hundred to a thousand, also helped a little.”
According to the FORTUNE 1,000 rankings, IDT delivered incredible Results for shareholders. The Company led all 23 companies listed in the telecommunications category with a spectacular 92% total return to Investors as measured by an increase in share price.
IDT also came out on top in its category in the FORTUNE 1,000
Profitability rankings. The Company was number one in profits as a percent of stockholders’ equity at 49%. In addition, IDT’s profit as a percent of revenues was also rated first at 43%, and profit as a percent of assets was the highest in the category at 28%.
“IDT’s FORTUNE 1,000 rankings tell an incredible story of a company beating its competition in one significant area after another,” said Jim Courter, CEO and Vice Chairman of IDT. “And we’re especially proud of being ranked 23rd with the least number of employees. That makes IDT the leanest and meanest performer among all the companies listed in the telecommunications sector.”
IDT was ranked number one among fixed-line communications companies in The 2002 Wall Street Journal Shareholder Scoreboard, which appeared on February 25, 2002. Profiles of the Company appear in the April 15, 2002 issue of Forbes Magazine, and in the May 2002 issue of Kiplinger’s Personal Finance Magazine.
IDT CORPORATION
IDT, through its IDT Telecom subsidiary, is a leading facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. Through its own national telecommunications backbone and fiber optic network infrastructure, IDT Telecom provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT Media is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media.
Through its various subsidiaries, IDT has interests in several telecom, Internet-related and media companies. IDT recently acquired Winstar
Communications. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of March 15,2002, there were 47,010,887 shares of Class B common stock (IDT.B) outstanding, and 19,088,116 shares of common stock (IDT).
Except for historical information, all of the expectations and Assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation,recession, interest rates, and other economic factors; (b) casualty to or other disruption of our facilities and operations; (c) those discussed in our Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward looking statements.
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Apr 11, 2002 |
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