Welcome and thank you for joining IDT's third quarter fiscal 2009 conference earnings webcast. The webcast will begin with remarks by Jim Courter, CEO of IDT Corporation.

Good afternoon. This is Jim Courter, CEO and Vice-Chairman of IDT corporation. IDT's CFO, Bill Pereira, and I will be reporting to you on IDT's financial and operational performance during the third quarter of our 2009 fiscal year. That’s for the past three months, February, March, and April. The format of this quarter’s earnings announcement incorporates several significant changes. First, we did not release our earnings over the wire this time. Instead, it is posted on IDT Corporation’s website, investor relations page -- that is www.idt.net. That’s www.idt.net. Anyone can read and download a copy of it there. In order to ensure that we comply with disclosure requirements, we also filed a release with the Securities and Exchange Commission. Distributing a long press release like the earnings release over the wire entails significant expense and is no longer the only disclosure method permitted by the New York Stock Exchange. Because we are focused on reducing our corporate overhead, we’ve opted for this less expensive alternative. In another significant change this quarter, we are soliciting and will answer your questions regarding the company and our third quarter results in writing rather than on this call. Participation by shareholders in the old Q&A call-in format declined steadily during the last several quarters. Finally, during the last quarter’s conference call, as you’ll recall no one had a question. We hope that this written format will elicit greater shareholder participation, particularly from individual investors. An earnings call can be an awkward place to ask a question of management if you’re not an analyst or fund manager. This new approach is more democratic, we believe, and we hope that anyone who has a question will send us an email. We also believe that written Q&A will improve the quality of both questions and the answers.…

Thank you, Jim. Before I delve into our financial results, I would like to take a moment to thank you, our shareholders, for your continued support of IDT and I am particularly thankful to those of you that reach out to us during the quarter with questions, comments, and ideas. We appreciate your interest and more importantly your feedback. Now to our financial results -- I continue to be encouraged by the progress we are making operationally in our turnaround effort. Despite the challenging economic environment we all face presently, IDT's drive toward financial stability and sustained operational profitability continued on a steady course during the quarter. Adjusted EBITDA, one of our key measures of financial performance, was $14.7 million for the quarter. This does not include a $2.6 million gain on our sale of a 50% interest in AMSO to Totale. This quarter marks the fourth consecutive quarter of positive adjusted EBITDA for the company, which I believe reaffirms the validity and sustainability of our turnaround plan. Fiscal year-to-date, we have recorded adjusted EBITDA of $39.6 million. This represents an improvement of $118 million over the same nine-month period last fiscal year when we realized adjusted EBITDA losses of $78.3 million. What is particularly pleasing to me is that this improvement of $118 million in adjusted EBITDA year over year is based on contributions from every significant segment of the company. For instance, IDT Telecom generated an additional $18 million in adjusted EBITDA towards this nine-month year-over-year improvement in performance. IDT Energy is up $36 million over last year. Corporate costs have been aggressively reduced by $35 million over the same nine months one year ago. The remaining $29 million in adjusted EBITDA improvement comes from IDT Capital, where we have either divested many of the businesses that were…

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