Good day, and welcome to the IDT Corporation's Second Quarter Fiscal 2012 Earnings Conference Call. [Operator Instructions] In this presentation, IDT's management team will discuss financial and operational results for the 3 months ended January 31, 2011. Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, either general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which company anticipates. These risks and uncertainties include, but are 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, IDT's management may make reference to the non-GAAP measures, adjusted EBITDA, non-GAAP net income and non-GAAP EPS. A schedule provided in the earnings releases reconciles adjusted EBITDA, non-GAAP net income and non-GAAP EPS to the nearest corresponding GAAP measures. Please note that the IDT earnings release is available on the Investor Relations page of the IDT Corporation website, www.idt.net. The earnings release has been filed on Form 8-K with the SEC. Finally, please note this is being recorded. I would now like to turn the conference over to the IDT management team. Please go ahead.

Thank you. I'm delighted to be speaking to you, our shareholders, today. As you know, we are once again hosting a live call and our management team will be taking your questions following our prepared remarks. A number of our shareholders felt we should go back to this format given the growing interest in our various businesses, and we listened. But more importantly, I'm delighted to discuss the major changes that have taken place at IDT. Not counting the Genie operations that we recently spun off, IDT had, for some years, been basically a prepaid calling card company. The world was changing. But to a large degree, we stuck to our legacy market. But over the past several years, we have transformed IDT, and I am especially excited to be here telling you about it because you are the owners and you are the ones who will reap the benefits for this transformation. Today, we are a profitable company. This quarter, we're reporting positive net income of over $19 million in cash flow from operations, and we have a strong and strengthening balance sheet. But more important, we have recaptured our innovations spirit, with some sensational products and services that will become leaders in their respective industries. Let me start with IDT Telecom. We launched Boss Revolution in late 2008. It was a very new concept back then, a very convenient, very inexpensive but also a very high quality service for making prepaid international phone calls from anywhere. You can use it in your home, at your office or from your mobile phone. Boss Revolution started off slowly. As recently as fiscal 2009, we realized less than $1 million a month in revenue. But then it caught fire. Today, Boss Revolution's annual run rate is over $200 million a year.…

Thank you. IDT's revenues for the second quarter of fiscal 2012 were $365.4 million, a healthy 7.2% increase year-over-year. Revenues decreased 3% compared to the prior quarter. These comparative trends stemmed primarily from the performance of our telecom divisions, TPS segment which accounted for 97.8% of IDT's revenues in the second quarter of fiscal 2012. Before turning to TPS, however, I would like to point out that while still not moving the meter, revenue from our All Other segment comprised primarily of revenue generated by Fabrix and Zedge, have grown nicely. Fabrix's and Zedge's revenue were both about $1 million in the last quarter, and increased 42.7% year-over-year. However, Fabrix's revenue is amortized, and consequently, its impact on cash flow is significantly greater. In February, after the quarter closed, we received $5.2 million in cash on a sale, which will be recognized as revenue over 3 years. TPS' minutes of use in the second quarter at 7.4 billion increased 13.3% year-over-year and 1.6% sequentially. We are frequently asked by investors, "What is your market share based on your minutes of use?" The telecommunications consulting firm's telegraphy [ph] has estimated total international long distance minutes handled by the telecom industry in 2011 at 438 billion minutes and growing at a 4% annual rate. Exclusive of sure VOIP plays likes Skype in network calls, if accurate, our share of the global international long distance market would be approximately 6% based on our latest quarter's minutes of use. TPS' revenues of $357.6 million were up 7.8% year-over-year, with strong growth in both the retail and wholesale revenues. Retail sales of $133.2 million were up 12.9% year-over-year. The increase in retail sales was driven substantially by growth in sales made over Boss Revolution, our PIN-less prepaid calling and payment platform. We continue to generate…

[Operator Instructions] And our first question comes from Jay Srivatsa of Chardan Capital Markets.

Relating to the top line, it appears despite increasing the minutes because of pricing, your top line's been impacted a little bit. What's your outlook in terms of pricing stability as you look at the next quarter, and what are your expectations from the top line?

I don't think we see a dramatic change in the top line one way or the other for next quarter. Most of the impact on this past quarter was a one-time rate decrease to a particular country, and that really affected our revenues. We don't see anything like that coming this particular quarter.

Okay, okay. In terms of Boss Revolution, can you speak to how many stores have you been able to install that and what's your outlook as you look at the rest of the year in terms of growth in the number of stores?

We don't give specifics on store counts with Boss Revolution, but we are seeing considerable growth.

Well, maybe I'll rephrase the question. What is your revenue expectation for Boss Revolution for the rest of the year?

We expect it to continue to grow significantly, some of it made up of new products, which we're adding. And we continue to see penetration with our traditional PIN-less dialing service as well.

Okay. In terms of cash, can you speak to outside of the dividend increase which is commendable, what are some of your plans related to your cash position?

We're working on a acquisition now, and if it goes through, we'll be happy to announce it.

All right. Last question on the gross margin profile. Looks like you've had a nice bump in margins despite the price pressure. What is your outlook for the year in terms of your ability to either be able to sustain it or possibly improve it?

I would say overall that we expect it to increase, again, not dramatically, but we do expect our overall margin to continue to increase.

[Operator Instructions] Having no further questions, this concludes our question-and-answer session and conference call. Thank you for attending today's presentation. You may now disconnect.