Good day, and welcome to the IDT Corporation Second Quarter Fiscal 2013 Earnings Conference Call. [Operator Instructions] In today's presentation, IDT's Chief Operating Officer, Samuel Jonas, will discuss IDT's financial and operational results for the 3 months ended January 31, 2013. 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 they may 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 or the Q&A, 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 release reconciles adjusted EBITDA and 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 also been filed on a Form 8-K with the SEC. Finally, please note this event is being recorded. And I'd now like to turn the call over to IDT's Chief Operating Officer, Samuel Jonas. Please go ahead.

Thank you all for joining the call and for your interest in IDT. For the second quarter of fiscal 2013, we again delivered solid results from both our telecom operations and our earlier stage businesses. Our performance continued to be in line with or slightly better than our high-level guidance. Telecom's top line growth was again quite good. We also experienced revenue and gross profit growth in our All Other segment, attributable primarily to Zedge and Fabrix, which benefited in part from seasonal and other timing-related factors. On a consolidated basis, revenue increased to $411.7 million from $365.4 million in the year-ago quarter. This is the 12th consecutive quarter of year-over-year increases. Gross profit for the quarter was $67.2 million compared to $59.1 million in the year-ago quarter. Gross margin increased slightly to 16.3% compared to 16.2% in the year-ago quarter. SG&A expense was $56.4 million compared to $51.6 million in the year-ago quarter. Corporate G&A rose to 4 -- $4.4 million from $3.2 million in the year-ago quarter, mainly as a result of $945,000 donation made to the IDT Charitable Foundation and the increase in noncash compensation. Research and development expense incurred wholly by Fabrix was $1.8 million compared to $1.1 million in the second quarter of fiscal 2011. Adjusted EBITDA increased to $9 million from $6.4 million in the second quarter of fiscal 2012. Depreciation and amortization expense was $3.9 million compared to $4.2 million in the year-ago quarter. The decrease was primarily the result of lower investments in Telecom infrastructure in recent years and the impact of some of our older Telecom assets becoming fully depreciated. Income from operations grew to $5.3 million from $4 million in the year-ago quarter, a $1.3 million increase. The year-ago quarter included $1.9 million in gains and a settlement with a…

[Operator Instructions] Our first question will come from Ty Carmichael of Gothic Capital.

Just a quick question on your cash flows during the quarter. Looks like you generated a $12 million in cash from operations, but your cash balance sequentially went down by about $16 million, from $166 million to $150 million it looks like. And just trying to reconcile the difference there.

Hi, it's Marcelo, thanks for calling into this call. You're correct, the cash went -- in the balance sheet went down by about $16 million, and most of that is because of the onetime dividend of close to $14 million that we paid during the second quarter, the $0.50 per share that we paid during Q2.

Okay. And cash from operations has been pretty strong during the first 2 quarters of the fiscal year. Do you have any -- can you provide any perspective on what you think the current run rate on an annual basis is, for the cash earning capability of the business?

Yes. I mean, we are prone to generating roughly about $35 million to $40 million in EBITDA now and let the CapEx. So we are probably of a run rate of about $20 million to $25 million in cash flow generation right now.

Okay. And then last question would be any -- I know in the past you talked a little bit about moving into the transfer payments space. And any updates on the strategy there and how that may play out?

As you heard I guess from the prerecorded remarks, we'll be rolling them out over the next -- I mean, over this quarter, it'll begin.

Okay. More, I guess -- more -- I think in the past, you talked about maybe accelerating the process through. And that -- you were looking at a potential acquisition and then that, for whatever reason that didn't come to fruition. Or -- and now is that -- is the strategy just to build organically, and or is there still a chance to kind of buy your way into that space to accelerate the rollout?

As of right now, the plan is to do it organically. I mean we're not currently looking at any acquisitions. That doesn't mean that if a good opportunity came our way we wouldn't take it.

[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.