IDT Corp. (NYSE: IDT) reported Q4 EPS of $0.40. Revenue for the quarter came in at $392.6 million.

• 4Q18 revenue of $392.6 million compared to $395.0 million. FY 2018 revenue increased to $1,547.5 million compared to $1,501.7 million;
• 4Q18 income from operations increased to $10.5 million compared to $3.7 million. FY 2018 income from operations increased to $8.4 million compared to $5.5 million;
• 4Q18 Adjusted EBITDA* increased to $16.8 million compared to $8.6 million. FY 2018 Adjusted EBITDA increased to $38.2 million compared to $37.7 million;
• 4Q18 EPS of $0.33 compared to a loss per share of $0.41. FY 2018 EPS of $0.17 compared to $0.35;
• 4Q18 non-GAAP EPS* increased to $0.40 compared to $0.07. FY 2018 non-GAAP EPS of $0.51 was unchanged compared to FY 2017;
• Following the quarter close, IDT\'s net2phone subsidiary acquired Versature, a provider of unified communications services to Canadian businesses;
• Beginning in July and continuing through October 5th, 2018, IDT repurchased approximately 1.1 million shares of its Class B Common stock for $5.8 million pursuant to an outstanding repurchase authorization of 8.0 million shares;
• IDT has discontinued its quarterly dividend, electing instead to return value to stockholders through share repurchases while investing in its growth business initiatives.

COMMENTS by SHMUEL JONAS, CEO OF IDT CORPORATION

"The fourth quarter overall was consistent with recent trends, but our top and bottom lines were positively impacted by the growth in our early stage businesses. The resilience in many of our core offerings also collectively increased profitability despite facing industry-wide headwinds for paid voice minutes.

"Following the quarter close, net2phone took a big leap forward with the launch of a new technology platform – net2phone 2.0. The new platform is built on an internally developed, proprietary stack instead of a third-party platform. It incorporates many of the groundbreaking technologies that we pioneered at IDT and net2phone over the past 25 years as well as those we attained with the Live Ninja acquisition. We expect to integrate additional disruptive technologies including those obtained through the HD Messaging and Versature acquisitions in the near term.

"The need for additional capital to invest in our growth initiatives as they scale and the current low valuation of the company prompted IDT's Board of Directors to discontinue our quarterly dividend and execute a stock buyback program. The Board determined, and I agree, that we can more effectively enhance long-term shareholder value by using the cash generated by our core offerings to increase investment in our early stage initiatives while retaining the flexibility to return value to shareholders through stock repurchases when warranted by market conditions, available resources, and our business outlook and results.

"Over the past three months, we have bought back 1.1 million shares of our Class B Common stock in the open market for $5.8 million."

For earnings history and earnings-related data on IDT Corp. (IDT) click here.