IDT reported revenue of $217 million for the fiscal third quarter of 2018, a sequential growth of 6.2 percent and 23 percent above the prior year's quarter. Non-GAAP gross margin was 62.9 percent, compared to 61.4 percent the prior quarter and 61.6 percent in the third quarter of fiscal 2017. Both revenue and non-GAAP gross margin were above the mid-point of IDT's guidance for the quarter.

IDT's overall revenue growth reflected record revenue in the cloud computing/data center segment. In the other segments, automotive and industrial revenue increased 4 percent sequentially, consumer revenue dropped 6 percent and communications infrastructure revenue declined slightly, reflecting market softness, particularly in Asia.

During the earnings call, CEO Greg Waters spoke about the opportunities that will fuel IDT's growth in communications infrastructure:

• NB-IoT deployment in China
• Millimeter wave product family
• Advanced timing products

Listen to his comments: