IDT Announces Results for Third Quarter Fiscal 2002

1/22/2002 - IDT (Nasdaq: IDTI), a leading communications IC company, today announced results for the quarter ended December 30, 2001, the third quarter of fiscal 2002. The Company reported a third quarter pro forma net loss of $11.9 million, or $(0.11) per diluted share on revenue of $80.2 million. In the immediately preceding quarter, the Company posted a pro forma net loss of $5.4 million, or $(0.05) per diluted share. One year ago, for the quarter ended December 31, 2000, pro forma earnings per diluted share were $0.87. Company revenue declined 17.4 percent compared to the immediately prior quarter and 71.3 percent compared to revenue for the third fiscal quarter one year ago.

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