IDT Continues Climb Up the Fortune 1,000 List
Company Moves From 806 to 746
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Newark, N.J. March 31, 2004 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, is pleased to announce that the company has moved up to 746 on this year’s Fortune 1000 list. The new ranking represents a gain of 60 spots from its position in 2002. The new list is available online and will be published in the April 5th issue of Fortune Magazine.
“Last week, The Wall Street Journal ranked IDT as the NUMBER ONE Fixed-Line Telecom Company in its annual Shareholder Scoreboard. Now this week we made a big jump in the Fortune 1000 ranking. We’re on a roll,” said Howard Jonas, IDT’s Founder and Chairman. “Today, IDT is 60 spots closer to the Fortune 500, a dream for most companies. But, for IDT, it’s just a milestone to becoming one of America’s great companies. While our customers are important, much of our success goes to the hard work and dedication of the IDT employees.”
The Fortune 1,000 ranks America’s largest corporations by annual revenues. At $1.834,5 billion, the magazine noted that IDT’s 2003 revenues are up more than 15.9% from the previous year.
“In a challenging economic environment, when most telecom companies lost ground, IDT grew and prospered,” said Jim Courter, IDT’s CEO. “IDT has moved ahead by improving and perfecting its core telecom business and by expanding its services globally into new markets. IDT will continue to move ahead by taking the same daring and innovative business strategy that brought success in telecom and applying it to new industries. IDT Entertainment is an example.”
Recently, IDT received the top ranking among Communications/Fixed Line companies in the 2004 Wall Street Journal Shareholder Scoreboard. The Shareholder Scoreboard ranks the 1000 largest companies in the Dow Jones U.S. Total Market index. The Shareholder Scoreboard reported that IDT ranked number 1 in shareholder returns among its peers in the Fixed-Line Communications Industry for 1-year returns, 3-year average returns and 5-year average returns. IDT's 3-year average return of 25.2% compares to the industry average of a 7.9% loss. IDT is the only Fixed-Line Communications company to show a positive 3-year average return. The Company's 5-year average return was 21.1%, compared with the industry average of a 7.2% loss.
IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.
IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.
Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which 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 are used. While these forward-looking statements represent IDT’s 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, including, but not limited to, those described in IDT’s most recent report on SEC Form 10-K (under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.
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Mar 31, 2004 |
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