IDT Corporation (NYSE:IDT) has unveiled a futuristic technology that will revolutionize the smart refrigerator’s space. The company has launched its ZMOD4450 refrigeration gas sensor platform, the first of its kind integrated digital gas sensor targeted for Refrigeration Air Quality (RAQ) applications.
Odor Detection and Mitigation Capabilities
ZMOD4450 can detect gases emitted by spoiling fruits, vegetables, meat and dairy products stored in the refrigerator. The Smart refrigerator can post real-time notifications on the displays mounted at the door, or better yet notify users via their smartphones. In the meantime, the technology will initiate active deodorizing systems to neutralize the gases.
Speaking about the futuristic system Uwe Guenther, general manager of IDT’s industrial group said that “Our new ZMOD4450 gas sensor gives smart refrigerator makers an edge in this increasingly competitive space by enabling them to prevent bad odors and reduce food waste due to spoilage.
He added that “the highly flexible ZMOD4450 sensor platform is an excellent solution for a variety of refrigeration air quality applications.”
ZMOD4450 Software is designed to detect the gases emitted by spoiled food that would otherwise produce odors, affect food taste and sometimes accelerate the ripening of other fruits stored in the same refrigerators.
Upon detection of the gases including ethylene, hydrogen sulfide, dimethyl sulfide, and trimethylamine, consumers can discard the affected food early to prevent them from harming others.
Giant manufacturers with long production lines have an advantage in deploying IDT’s ZMOD4450 sensor since they are calibrated with ethylene which enforces consistency with the Internet of Things (IoT). The sensors have qualified for harsh use cases and unprecedented life characterization further proving their reliability.
Barely a week ago, IDT Corp announced its Q1 2019 earnings for the period ended October 31, 2018. For gross revenue of $362.3 million, the company made losses of $0.06 on each share and a non-GAAP loss of $0.02 per share.
Among the revenue sectors that witnessed forward, performance includes earnings from operations which surged to $1.3 million from a modest $0.1 million.
Adjusted EBITDA slightly increased to $7.1 million from previous $7.0 million. Among the Q1’s activities include the purchase of its own 729,110 Class B common stock for $3.9 million. The company also posted increased revenue from its unified communications as a service unit, net2phones by 100.4% to $4.8 million.
Earnings from the company’s National Retail solutions operations surged 68.5% to $1.2 million while revenue from its international money transfer services ballooned 28.2% to $4.9 million.
IDT’s CEO Shmuel Jonas while giving highlights on the company’s performance during the first quarter said that, “IDT continued to make progress in the first quarter with increasing operating income and robust investment in our exciting growth initiatives, including net2phone’s UCaaS offerings, National Retail Solutions’ point-of-sale network, our international money transfer business, and BOSS Revolution Mobile.”
Jonas pointed out that business is booming at IDT’s money transfer business. The segment’s revenue increased 160% and as a result accounting to about 97.1% of the company’s consolidated revenue.
The CEO put a lot of emphasis on the company’s technology-focused endeavors stating that they held the potential to transform IDT’s fortunes in the future.
IDT has an Impressive Stock Lately
By augmenting its product line with readily applicable software that can make a sale with ease upon the slightest marketing, IDT is sure to attract positive activity to its stock. The company’s stock had a momentous day on the market for the previously ended trading session.
The shares spiked almost 7% to close at $7.44 during the Tuesday 8 business day. The shares opened at $7.01 and moved to a high of $7.65 and a low of $7.01 before settling at its closing mentioned above price.
The stock’s trend is encouraging since it is gradually closing the gap with its 52-week high of $9.20.
More than 92,000 shares traded hands during the business day, compared to the average daily volume of 175,917 shares out of the total float of 23.72 million.
As of Tuesday, the company had a market valuation of about $176.46 million.