IDT Corporation (NYSE:IDT) Q3 2020 Earnings Conference Call - Final Transcript
Jun 04, 2020 • 05:30 pm ET
Good morning or good afternoon, and welcome to the IDT Corporation's Third Quarter Fiscal Year 2020 Earnings Call. In today's presentation, IDT's management will discuss IDT's financial and operational results for the three-month period ended April 30, 2020. During prepared remarks by IDT's Chief Executive Officer, Shmuel Jonas, all participants will be in listen-only mode. [Operator Instructions] After the prepared remarks, Marcelo Fischer, IDT's Chief Financial Officer, will join Mr. Jonas for Q&A.
Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which the Company anticipates. These risks and uncertainties include, but are not limited to, specific risks and uncertainties discussed in the reports that IDT files periodically with the SEC.
IDT assumes no obligation either to update any forward-looking statements that they have made or may make or to update the factors that may cause actual results to differ materially from those that they forecast.
In their presentation or in the Q&A session, IDT's management may make reference to non-GAAP measures, including adjusted EBITDA, non-GAAP net income and non-GAAP EPS. A schedule provided in the IDT earnings release reconciles adjusted EBITDA, non-GAAP net income and non-GAAP EPS to the nearest corresponding GAAP measures.
Please note that IDT earnings release is available on the Investor Relations page of the IDT Corporation website, www.idt.net. The earnings release has also been filed on a Form 8-K with the SEC.
I will now turn the conference over to Mr. Jonas. Please go ahead.
Hi. Thank you, operator. Welcome to IDT's third quarter fiscal 2020 earnings call covering results for the three months ended April 30, 2020. I'm joined today on the call by Marcelo Fischer, IDT's Chief Financial Officer. For a more detailed report on our financial and operational results, please read our earnings release filed earlier today and our Form 10-Q, which we will file with the SEC next week.
I want to start the call by thanking our team worldwide who did just an incredible job of rapidly transitioning to work from home and did not miss a beat during this terrible pandemic. This is especially noteworthy when you consider that so many members of our team are balancing multiple day jobs like assistant teachers, caretakers for sick relative and volunteer first responders in their communities. I also want to thank and recognize our frontline salespeople and delivery teammates for continuing to serve our retailers and channel partners throughout this challenging time. Thank you, Team IDT.
Turning now to our fiscal Q3's financial performance. Results for the third quarter were highlighted by both the resilience of our business and increased contribution from our higher-margin growth initiatives, which more than offset the decrease in contribution from our lower-margin core offerings. In our core offerings, BOSS Revolution Calling revenue and Carrier Services revenue both declined, partially offset by continued growth of Mobile Top-Up