IDT Corporation (NYSE: IDT; IDT.C) said today that it has regained full
compliance with the New York Stock Exchange's (NYSE) quantitative
continued listing standards.
The Company reported that, on April 1, 2010, it received notification
from the NYSE that it had regained compliance as a result of its
"consistent positive performance with respect to the original business
plan submission and the achievement of compliance with the NYSE's $100
million market capitalization requirement at the end of its business
plan period on March 30, 2010."
"IDT significantly improved its operational and bottom-line performance
during the eighteen month business plan period provided by the NYSE, as
well as improved its liquidity and overall financial condition," said
IDT's Chairman and CEO, Howard Jonas. "I am pleased that the Company is
once again in compliance with the NYSE's listing standards. Our officers
and employees deserve great credit for their hard work that got us to
this important milestone, as do the shareholders who stuck by us and
continued to believe in IDT's future."
As of March 30, 2010, the final day of the compliance period, IDT's
market capitalization was $140.9 million and its 30 trading day trailing
average market capitalization through and including March 30th was
$120.8 million.
Previously, on April 9, 2009, IDT was notified by the NYSE that it had
regained compliance with the NYSE's minimum share price continuing
listing standard.
About IDT Corporation:
IDT
Corporation (www.idt.net)
is a consumer services company with operations primarily in the
telecommunications and energy industries. IDT Corporation's Class B
Common Stock and Common Stock trade on the New York Stock Exchange under
the ticker symbols IDT and IDT.C, respectively.
IDT Corporation
Investor Relations
Bill Ulrey, 973/438-3838
E-mail:
invest@idt.net |
