IDT Corp. Makes Business Week Info Tech 100 |
Achieves Top 10 Rankings in Two Categories Among All Other Telecommunications Companies
NEWARK, N.J. – June 19, 2002 – IDT Corporation (NYSE: IDT.B, IDT), a leading multinational carrier and telephone company, is proud to announce that it has been listed in the Business Week Info Tech 100, a ranking of the top technology companies in the world based on their performance over the past 12 months. In addition, IDT was ranked among the top ten telecommunications companies in two categories. The list appears in the June 24, 2002, issue of Business Week.
Based on performance over the last 12 months, IDT was ranked second among all telecommunications companies for Total Shareholder Return at 34%. In the category of Revenue Growth, IDT came in eighth at 23.4%. Overall, IDT ranked number 96 among all tech companies on the global list.
“At a time when almost half of the world’s top tech firms are non-U.S. companies, we’re proud to be doing our part to keep America, the home of liberty and freedom, in the forefront of technological leadership,” said Howard Jonas, IDT’s Chairman. “Making the Business Week Info Tech 100 means a lot more than being included once again in a list of top companies. To me it means that IDT has become one of America’s technological resources.”
This year 49 of the 100 companies on the Info Tech 100 were non-U.S. firms. That is up from just 23 when the list was introduced in 1998.
“IDT’s performance is certainly being recognized in all the right places,” said Jim Courter, IDT’s CEO. “Business Week is the third leading publication to include us in its rankings of top companies so far this year. It’s an ongoing story of hard work and results that just keeps getting better and better.”
In February, IDT received the highest overall ranking in the 2002 Wall Street Journal Shareholder Scoreboard in the Communications/Fixed-Line category. In April, IDT made the Fortune 1,000, leading all other companies listed in the telecommunications category in total return to investors as measured by an increase in share price, and in profits as a percent of stockholders’ equity, a percent of revenues, and a percent of assets.
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 June 10, 2002, there were 53.4 million shares of Class B common stock (IDT.B) outstanding, and 24.9 million shares of common stock (IDT). Of these, 4.0 million shares of Class B common stock and 5.4 million shares of common stock were held by units of IDT Corporation.
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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Jun 19, 2002 |
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