Good morning and welcome to the IDT Corporation's Second Quarter Fiscal Year 2017 Earnings Call. During management's prepared remarks, all participants will be in listen-only mode. [Operator Instructions] After today's presentation by IDT's management, there will be an opportunity to ask questions. [Operator Instructions] In today's presentation, Shmuel Jonas, CEO of IDT Corporation will discuss IDT's financial and operational results for the 3 months period ended December 31, 2016. Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, whether general or specific in nature are subject to risks and uncertainties that may cause actual results to differ materially from those which the 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 they forecast. In their presentation, or in the Q&A that will follow, IDT's management may make reference to the non-GAAP measures, adjusted EBITDA, non-GAAP net income and non-GAAP diluted EPS. A schedule provided in the earnings release reconciles adjusted EBITDA, non-GAAP net income, and non-GAAP diluted EPS to the nearest corresponding GAAP measures. Please note that IDT earnings release is available on the Investor Relations page of the IDT Corporation website, www.idt.net. The earnings release has also been filed on a Form K-8 [ph] with the SEC. I would now like to turn the conference over to Mr. Jonas. Please go ahead.

Thank you, operator. Welcome to IDT's second quarter of fiscal 2017 earnings call. My remarks today will focus on key operational and financial results for the three months ended January 31, 2017. Unless I indicate otherwise, results are for the second quarter of fiscal 2017, and are compared to the year ago quarter. For a comprehensive and detailed discussion of our results, please read our earnings release issued earlier today and our Form 10-Q, which we expect to file with the SEC on or about Monday, March 13. Following my remarks, Marcelo Fischer, IDT's Senior Vice President of Finance and IDT Telecom's Chief Financial Officer will join me, and we will be glad to take your questions. While we are still quite inline on the profitability and cash flow generated by our international long distance voice services we know and you know in order to continue to create value we have - as we have over the last few years we need to diversify our revenue streams. We made a lot of progress in the second quarter building applications that allow for the scaling of that diversification. We also accelerated the development and investment in all our key growth initiatives. We have introduced some exciting new products in the BOSS Revolution Money app with money remains as its flagship service and released the major update of the BOSS Revolution calling app, which now includes messaging and peer-to-peer calling. The two apps now work in tandem to provide a seamless user experience and convenient access to many of our consumer voice and payment offerings. We also continued rolling out the new Boss solution retailer portal across our Nationwide network of stores. This upgrade will make it much easier for retailers to sell all BOSS solution products and services. However our launch…

We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from John Rolfe of Argand Capital. Please go ahead.

Hey guys. I think you said that you had - that the POS terminals in a 1,000 different locations at quarter end, was that correct?

Actually, it's 2,000 stores.

Okay, it's in 2,000. So can you talk a little bit about, I mean do you still have a meaningful backlog of stores that want those terminals and sort of how you see that business scaling up over the course of the rest of this year?

We think it's going to scale very nicely. We do still have a backlog. I mean we’re actually unable to install as many as we have sold. Hopefully we’re going to be hiring enough people to be able to deploy them a little bit quicker, but at the same time our sales keep increasing for the POS but we expect to end the year with a couple of 1,000 more units at least.

Okay. And then lastly, with the increased spend on some of these initiatives, would you expect that sort of corporate line item I think for the quarter it was a little over $3.5 million. Would you expect that to remain relatively sort of stable or similar to that level for the rest of this year? Do you see sort of spending levels increasing even further at this sort of corporate line item?

I definitely don’t see them increasing, I mean there is anything they will come down a little bit. But again, we are trying to scale this business as fast as we can.

Okay, great. Thanks very much.

Thank you.

[Operator Instructions] This concludes our question-and-answer session and the conference call. Thank you for attending today's presentation. You may now disconnect.