Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on IDT CORP-CLASS B. We currently have 0 research reports from 0 professional analysts.
|03Mar16 21:30||MKW||IDT Corporation Reports Second Quarter Fiscal 2016 Results|
|03Dec15 22:22||MKW||IDT Corporation Reports First Quarter Fiscal 2016 Results|
|02Nov15 20:45||MKW||IDT Dedicates Newly Renovated HQ Building in Newark, NJ|
Frequency of research reports
Research reports on
IDT CORP-CLASS B
IDT CORP-CLASS B
27 Mar 17
The Joy of Techs
Enterprise-focused niche applications of tech illustrate how, while trends appear to be fluctuating away from the current poster children of fintech and the Internet of Things, in fact these developments are refining appropriate application of existing technologies.
Companies: 7DIG AMO ARTA BVC BOTB CTP CFHL ISL DTC DOTD ELCO ESV FDSA FDEV GBG IDEA IDOX IMTK IGP IOM KBT KCOM KWS LRM MAI MMX NASA NET ONEV PHD QTX QXT RCN 932 SSY SEE SIM SPE TAX TEP TPOP TRAK UNG VIP ZOO
20 Apr 17
TEP’s trading update for the year to March 2017 highlights modest growth as expected, with a total dividend of 48p (25p final dividend) in line (49pE). FY18 forecasts are trimmed 3% at adjusted PBT level, to remain in line with FY17, with better quality customers taking all possible services – at a higher cost of acquisition but better prospective year 2 margins. With the positive outlook that a narrowing of the gap between standard variable energy tariffs and aggressively priced introductory deals has led to an encouraging upward trend in Q4 to March, prospects for restored growth in revenue (FY18) and profit (FY19) are strong. Improved incentivisation of the self employed salesforce, after a few years of lower growth, is complemented by the imminent addition of Home Insurance, adding sales momentum and increased customer interest as utility prices rise. With the double upside to the £70m tender offer in summer, and the June release of FY19 forecasts illustrating growth following greater detail available at prelims, the future is brighter for TEP. Target 1360p reiterated.
Companies: Telecom Plus
25 Apr 17
Fenner (FENR): Forecast upgrades follow strong interims (BUY) | Omega Diagnostics* (ODX): In-line trading update and FY18 estimates (CORP) | Minds + Machines* (MMX): Prelims pressing ahead (CORP) | Imaginatik* (IMTK): Year-end trading update (CORP) | OptiBiotix* (OPTI): FY16 results in line with expectations (CORP) | Europa Oil & Gas*, (EOG): Irish seismic contractor (CORP) | Sound Energy (SOU): Schlumberger investment (HOLD) | CityFibre* (CITY): Strategy proof point (CORP) | Connect (CNCT): Investment being made to drive growth (BUY)
Companies: FENR ODX MMX IMTK OPTI EOG SOU CFHL CNCT
31 Jan 17
Alumasc (ALU): Interims show strong sales growth but some margin pressure (BUY) | Joules Group (JOU): Marginal increase to FY17E forecast (BUY) | CityFibre* (CITY): Prospects shine (CORP) | Nasstar* (NASA): Trading update (CORP) | SCS Group (SCS): LFL order intake slowed during Q2 (BUY)
Companies: ALU JOUL CFHL NASA SCS
10 Apr 17
BlackRock Smaller Companies Trust is considering ending the restriction on AIM investment in its portfolio. Currently, the trust is not allowed to invest more than 40% of its portfolio value in AIM-quoted companies. If the required consents and regulatory approvals are received, a resolution may be put forward at the annual general meeting in June. Vets practices owner CVS is currently the largest investment in the trust’s portfolio and wound management firm Advanced Medical Solutions is also in the top ten. The rest of the top ten are fully listed companies. The best performer in February was telematics equipment and services provider Quartix. BlackRock is considering this change at a time when the Small and Mid-Cap Investors Survey 2017 suggests that there is a positive change in attitude towards AIM. Overall, investors believe that AIM is better than it has ever been. The average size of companies continues to rise and this is taken as an indication of maturity but there is still concern about the lower end of the market. There is little pressure on AIM companies to move to the Main Market even if they are relatively large for AIM. There are currently eight companies on AIM valued at more than £1bn, accounting for around one-sixth of the total market value of AIM.
Companies: MANX INS FRAN ACSO NAH GMAA TCM
25 Apr 17
Strategy proof point
Prelims are in line with consensus expectations unchanged at the January trading update: EBITDA of £2.5m (consensus £2.4m) was delivered from revenue of £15.4m (£15.0m), including revenue growth of 140% and maiden positive EBITDA (FY15: £-2.9m). Momentum in connected premises (3,962 at FY16) and a strong backlog of contracted premises still to be connected (3,558) means the total value of unreleased future contracted revenue has built to £106m at a typical gross margin of over 90%. Growth across public sector and business sectors remains strong, while mobile network operators are keenly aware of the benefits of CityFibre's national fibre network. Regulatory uncertainty is giving way to clear opportunity, with OFCOM’s policy proposals making encouraging noises around fostering “network based competition”. CityFibre continues to deliver on its strategy, in line with expectations: target 130p reiterated.
27 Apr 17
Spain now represents nearly 15% of Orange's revenues
Q1 revenues have grown organically by 0.8% yoy. This is quite a correct performance, in line with market’s expectations, and which confirms the good trend recorded in the previous quarter. Remember, revenues had increased by 0.3% during H1 16 and by 0.9% in H2 16. The great story in Spain continued apace with revenue growth of 8.5% yoy. In France, revenues were stable, the impact of roaming being offset by a clear improvement in the mobile trend while the fixed services grew by 1.6% yoy. Q1 EBITDA increased by 2% yoy. With no surprise, the group has confirmed its objective for 2017 of a higher EBITDA than in 2016 on a comparable basis (lifted by the strong commercial momentum supported by capex, and continuing efforts to transform the cost structure). As a reminder, the group will pay a dividend of €0.60 per share for 2016 and €0.65 for…2017.
25 Apr 17
Too little improvement offset by persistent weaknesses
Ericsson reported Q1 revenues of SEK46.4bn, corresponding to a decrease of 11.2% yoy on a reported basis, while on a comparable basis (comparable units and currency) the decline was 16%. Latin America (-29%), Northern (-24%) and Central (-17%) Europe witnessed sharp drops, while South-East Asia & Oceania showed some growth (+7%). Under the new reporting structure, Networks fell by 12.7% yoy (SEK34.9bn), IT & Cloud by 2.9% (SEK9.5bn) and Media by 19.6% (SEK2bn). Provisions and customer project adjustments had a one-off negative impact of SEK1.4bn. The gross margin came in at 13.9% and was massively impacted by restructuring charges (SEK1.5bn) and customer-related provisions (SEK6.7bn), leading to an adjusted gross margin of 30.5%, down 340bp yoy. Similarly, EBIT was impacted negatively by a total of SEK13.4bn of charges: SEK1.7bn of restructuring, SEK3.3bn of write-downs and SEK8.4bn of provisions; as a consequence, the adjusted EBIT margin came in at 2.3% but the reported EBIT margin at -26.6%. EPS came in at SEK-3.29. The company maintained its annual run rate target of SEK7bn for IPR Licensing (SEK10bn in 2016) and the RAN equipment market forecast at between -2% to -6% in USD; restructuring charges are now expected to reach SEK6-8bn, while renewed Managed Services contracts with reduces scope in North America will have a negative impact on Q2 and Q3 revenues, while an additional negative impact of SEK10bn by 2019 is expected due to low-performing operations in the Managed Services and Networks roll-out.
Companies: ERICSSON LM-B SHS
29 Mar 17
Calling ground control
Following its successful refinancing in January, Avanti is gathering momentum once again. It has today announced a very significant partnership for sub-Saharan Africa connectivity with Millicom, a top three player in the African telecom market. Avanti is not only to provide 4G backhaul services via its satellite network to improve access in remote and rural areas, but is also to build a new Gateway Earth Station in Senegal to enhance performance across the region. The site is to be co-located with Millicom operations and will service existing HYLAS 2 coverage as well as those from HYLAS 4. We await confirmation of a launch date in H217 for the new satellite, but today’s announcement appears to confirm Avanti’s Ka-band technology remains at the forefront of satellite connectivity.
Companies: Avanti Communications
09 Dec 15
Northland Capital Morning Report
Savannah Resources (SAV.L) – CORP: Oman update | Alternative Networks (AN..L): Prelims
Companies: Savannah Resources ALTERNATIVE NETWORKS
08 Mar 17
Signs of recovery after a difficult 2016
As flagged by the recent trading update, group FY 2016 revenue slipped 7% YoY to $90.4m; 43% ($38.5m) of this came from Telecoms, which saw the majority of the decline in revenue as the legacy copper-based equipment sales continue to be wound down. The Bio-Medical division sales slipped just 2% YoY to $51.6m; a poor year from sterilization being compensated for by growth in diagnostics. While gross margins remained firm in both divisions (40% and 25% respectively), both slipped into operating loss; a hefty $2.2m from Telecoms (due to the loss of revenue from contracts) and $0.3m from Bio-Medical; however, the $2.5m operating loss was covered by an exceptional $3m profit on sale of a property. That sale helped cash; $1m received from operations was offset by $6m capex but cash from the sale of assets lifted BATM’s net cash from $21m to a welcome $23m at the year end.
Companies: Batm Advanced Communications
25 Apr 17
In Q1 17, revenues increased 4.9% to €1.06bn and excluding one-off effects revenues increased 2.5%. Gross profit improved 9% to €468.8m and the gross margin increased from 42.6% to 44.3%. EBITDA improved 1.5% to €339.5m and the EBITDA margin increased from 19.5% to 19.7%. EBIT increased 7.8% to €126.4m and the EBIT margin increased from 11.6% to 11.9%. The total number of subscribers increased by only 0.5% to 20.62m. The number of postpaid subscribers, which is the most interesting group to follow, increased 1.8% to 15.07m. ARPU of the group improved from €8.4 to €8.5 per month. In Austria, the number of postpaid customers declined by 0.4% to 3.7m and the wireless ARPU 1.6% to €15.6, which was entirely linked to the losses in roaming revenues. The fixed-line ARPL, however, rose from €28.1 to €28.3 due to strong upselling measures.
Companies: TELEKOM AUSTRIA AG
20 Apr 17
Strong performance in the non-legacy business
TomTom reported Q1 revenues of €212.7m, down 2% yoy and 19.9% sequentially. Consumer decreased by 16% yoy to €98m, representing the main down-mover. The three other businesses combined grew by 14.1% to €114.7m, with in decreasing order Automotive (€41.1m, +38.4% yoy), Telematics (€40.6m, +9.4%) and Licensing (€33m, -2.1%). The gross margin came in at 62.2%, up 540bp yoy, while the EBIT margin lost 30bp to -2.3% (-€4.8m). EPS came in at €-0.02 and adjusted EPS at €0.03. The company re-iterated its guidance for FY17 with adjusted EPS of around €0.25 and revenues of between €1,025 and €1,050m.
20 Apr 17
Correct Q1 with data services continuing to evolve favourably
Q1 revenues have increased by 7% yoy while EBITDA grew by 5% thanks to the consolidation of Anvia (this is the last quarter of adjustment as the company was bought a year ago). Adjusted for this acquisition, revenues and EBITDA were, however, up by c.2.5%, a quite correct performance in a mature and competitive Finnish market. Note the Estonian Competition Authority approved on 20/03/2017 the transaction in which Elisa acquires 100% of Starman’s capital. The transaction is now expected to be closed during April. As a reminder, Elisa bought Starman on 13/12/2016 for €151m to strengthen its position in Estonia (10% of its business). Starman (€37m of revenues in 2015) is the Estonian pay TV market leader (35% market share), has high profitability (EBITDA margin of 49%) and a growth track record. It will allow Elisa to create a new integrated operator in Estonia (it is already the second mobile telco in this little country) with a cable network covering more than 50% of Estonian homes. Note Elisa was providing temporary loan funding to sellers (which will be repaid on the closing of the acquisition) so the net debt at the end of 2016 (€1.12bn) already includes the acquisition price of Starman.
Companies: ELISA OYJ
25 Apr 17
Ronez up year-on-year in Q1 ‘17
Reporting its 2016 results this morning, SigmaRoc flagged a solid start to 2017 from its Ronez vertically-integrated aggregates business on the Channel Islands, the acquisition of which post-dates the reporting period. Q1 2017 EBITDA is reportedly 12% higher compared with that achieved by Ronez in Q1 2016, suggesting tangible progress is being made by SigmaRoc on unlocking operational and trading efficiencies since taking control of the business at the start of the year. We remain confident the group can generate EBITDA at the Ronez-level of >£6m pa going forward (up from £4.9m in 2016). Having successfully integrated Ronez, management is now sharpening its focus on executing the next stage of its niche asset ‘buy-and-build’ strategy. Leveraging management’s vast experience in the construction materials industry and Ronez’ robust cash-flow base, we expect SigmaRoc to roll out more acquisition and/or organic investment opportunities as the year progresses, which should be a catalyst for further share price appreciation.