Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Jul. 31, 2012

Selected Quarterly Financial Data (Unaudited)

Note 18—Selected Quarterly Financial Data (Unaudited)

The table below presents selected quarterly financial data of the Company for its fiscal quarters in fiscal 2012 and fiscal 2011:

Quarter Ended (in thousands, except per share data)	Revenues		Direct cost of revenues		(Loss) income from operations			(Loss) income from continuing operations			Net (loss) income attributable to IDT Corporation			(Loss) income per share —basic						(Loss) income per share —diluted
														From continuing operations			Net (loss) income			From continuing operations			Net (loss) income
2012:
October 31(a)	$	376,777	$	319,352	$	(11,062	)	$	(8,088	)	$	(4,326	)	$	(0.40	)	$	(0.21	)	$	(0.40	)	$	(0.21	)
January 31(b)		365,449		306,365		4,032			2,929			2,656			0.13			0.13			0.12			0.12
April 30(c)		379,719		319,811		2,162			3,449			2,989			0.14			0.14			0.14			0.14
July 31(d)		384,891		323,951		2,625			37,480			37,329			1.78			1.78			1.69			1.69
TOTAL	$	1,506,836	$	1,269,479	$	(2,243	)	$	35,770		$	38,648		$	1.68		$	1.87		$	1.57		$	1.75
2011:
October 31(e)	$	309,767	$	252,392	$	4,340		$	13,173		$	15,648		$	0.63		$	0.76		$	0.58		$	0.70
January 31(f)		340,867		282,746		5,817			4,323			3,936			0.19			0.19			0.18			0.18
April 30(g)		340,188		282,598		319			5,158			7,001			0.25			0.34			0.23			0.31
July 31(h)		361,094		301,929		(818	)		(228	)		227			(0.19	)		0.01			(0.19	)		0.01
TOTAL	$	1,351,916	$	1,119,665	$	9,658		$	22,426		$	26,812		$	1.05		$	1.30		$	0.96		$	1.19

(a) Included in loss from operations was other operating loss of $11.3 million from the settlement of litigation with T-Mobile. Included in income from continuing operations was benefit from income taxes of $3.3 million.

(b) Included in income from operations was other operating gain of $1.8 million from the settlement of the Company’s claim stemming from Broadstripe, LLC’s rejection of its telephony services agreements with the Company.

(c) Included in income from operations was other operating loss, net of $1.1 million, which was comprised of (1) an estimated loss of $6.5 million from pending litigation net of (2) a gain of $5.3 million from the sale of eight spectrum licenses. Included in income from continuing operations was benefit from income taxes of $2.3 million.

(d) Included in income from continuing operations was a benefit from income taxes of $36.5 million primarily due to the reversal of a portion of the valuation allowance on deferred income tax assets.

(e) Included in income from operations were other operating gains of $2.5 million, which was comprised of (1) a gain of $1.9 million from an insurance claim for water damage to portions of the Company’s building and improvements at 520 Broad Street, Newark, New Jersey and (2) a gain of $0.6 million from the settlement of other claims. Included in income from continuing operations were (1) other income of $5.4 million from the settlement of an arbitration claim related to auction rate securities and (2) a benefit from income taxes of $1.1 million primarily due to the reversal of income tax expense related to an IRS audit that was completed in August 2010.

(f) Included in income from operations were other operating gains, net of $4.9 million, which was comprised of (1) a gain of $14.4 million related to the termination of a cable telephony agreement and (2) a additional gain of $0.8 million from an insurance claim for water damage to portions of the Company’s building and improvements at 520 Broad Street, Newark, New Jersey, net of (3) a loss of $9.8 million from an alleged patent infringement and (4) other loss of $0.5 million.

(g) Included in income from continuing operations was a benefit from income taxes of $2.6 million primarily due to the reversal of income tax expense related to an expected tax refund from the liquidation of the Company’s legal entity in Puerto Rico.

(h) Included in loss from operations was additional loss from an alleged patent infringement of $1.1 million. Included in loss from continuing operations was benefit from income taxes of $2.3 million. Basic and diluted earnings per share are the same since the Company had a loss from continuing operations in the period.