Samuel Jonas - Chief Executive Officer Marcelo Fischer - Chief Financial Officer

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 ending April 30, 2020. During prepared remarks by IDTs Chief Executive Officer, Samuel 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 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 measure. 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 relatives, 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 resellers and channel partners throughout this challenging time. Thank you team IDT. Turning now to our fiscal Q3 financial performance, results for the third quarter were highlighted by both, the resilience of our business and the 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 revenue. The rate of decline in BOSS Revolution Calling revenue slowed compared to recent quarters, while sales of lower margin Mobile Top-Up jumped. Both BOSS Revolution Calling and Carrier Services improved our margin contribution as a percentage of revenue compared to the year ago quarter, thus muting much of the impact of their respective revenue decreases on our bottom line. At the same time, our growth business initiative turned…

As there are no more questions, this concludes our question-and-answer session, as well as the conference call. Thank you for attending today's presentation and you may now disconnect.