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March 16, 2004 06:35 AM US Eastern Timezone
IDT Reports Results for Second Quarter of Fiscal Year 2004
NEWARK, N.J.--(BUSINESS WIRE)--March 16, 2004--IDT Corporation(NYSE:IDT):
-- Consolidated Revenues Increase 16.9% Year-over-Year, to a Record $527.0 Million
-- Gross Profit Dollars Up 28.6% Year-over-Year, Reflecting 220 Basis Points Increase in Gross Margins
-- IDT Entertainment Completes the Anchor Bay and Mainframe Acquisitions
IDT Corporation (NYSE: IDT, IDT.C) today reported record revenues of $527.0 million for the second quarter of its Fiscal Year 2004, the three months ended January 31, 2004. Revenues for the second quarter increased 2.7% sequentially and 16.9% year-over-year.
Gross profits for the second quarter of Fiscal Year 2004 was $130.9 million, or 24.8% of revenues, as compared to gross profits of $118.8 million or 23.2% of revenues, last quarter and gross profits of $101.8 million, or 22.6% of revenues, in the second quarter of Fiscal Year 2003.
Net income for the second quarter of Fiscal Year 2004 was $18.4 million, or $0.20
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