IDT Corp. (NYSE: IDT) reported Q1 EPS of $0.35, versus $0.10 reported last year. Revenue for the quarter came in at $343 million, versus $340 million reported last year.

1Q FY21 HIGHLIGHTS (Results are for 1Q21 and are compared to 1Q20)

• Consolidated revenue increased 1% to $343 million from $340 million.
• Consolidated revenue less direct cost of revenue increased 16% to $70 million from $61 million, the fifth consecutive year-over-year quarterly increase.
• BOSS Revolution Money Transfer, National Retail Solutions (NRS) and net2phone (subscription) revenue increased by 111%, 109% and 32%, respectively. These three businesses in the aggregate increased their share of consolidated revenue less direct cost of revenue to 31% from 19%.
• Consolidated income from operations increased to $13.3 million from a loss from operations of $1.4 million.
• Adjusted EBITDA* increased 148% to $18.1 million from $7.3 million, and Adjusted EBITDA less CAPEX** increased 291% to $13.5 million from $3.5 million.
• EPS was $0.32 compared to a loss per share of $0.06. Non-GAAP earnings per diluted share* was $0.35 compared to $0.10.
• IDT repurchased 463,792 shares of its Class B common stock for $2.8 million during 1Q21.

REMARKS BY SHMUEL JONAS, CEO"This was another strong financial quarter for IDT, with substantial year-over-year improvements in revenue less direct cost of revenue and bottom-line results.

"All three of our high growth, higher margin businesses - BOSS Revolution Money Transfer, NRS and net2phone's cloud communications offerings - generated impressive year over year revenue growth.

"In aggregate, these businesses have been contributing an increasing share of our consolidated revenue less direct cost of revenue, and this quarter their contribution topped 30%. Our money transfer business again benefitted, although less significantly, from the favorable foreign exchange market conditions that boosted its results last quarter.

"As a result of strong operational cash generation, IDT closed the quarter with a stronger balance sheet, even as we continued to invest in our businesses and repurchase our stock."

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