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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Jul. 31, 2017
Selected Quarterly Financial Data (Unaudited) [Abstract]  
Selected Quarterly Financial Data (Unaudited)

Note 25—Selected Quarterly Financial Data (Unaudited)

 

The table below presents selected quarterly financial data of the Company for its fiscal quarters in fiscal 2017 and fiscal 2016:

 

Quarter Ended
(in thousands,
except per share data)		   Revenues     Direct cost
of revenues		     Income (loss)
from
operations		     Net income (loss)     Net income (loss)
attributable
to IDT
Corporation		     Net income (loss)
per share –basic		     Net income (loss)
per share – diluted		  
2017:                                          
October 31(a)   $ 369,151     $ 313,029     $ 5,186     $ 22,294     $ 21,918     $ 0.97     $ 0.96  
January 31     367,556       310,913       3,128       1,257       875       0.04       0.04  
April 30 (b)     370,035       314,704       (6,502 )     (4,452 )     (4,775 )     (0.21 )     (0.21 )
July 31(c)     394,987       337,062       3,737       (9,458 )     (9,841 )     (0.41 )     (0.41 )
TOTAL   $ 1,501,729     $ 1,275,708     $ 5,549     $ 9,641     $ 8,177     $ 0.35     $ 0.35  
2016:                                                        
October 31   $ 390,578     $ 324,511     $ 7,925     $ 4,575     $ 4,193     $ 0.18     $ 0.18  
January 31     382,454       319,724       6,377       4,663       4,065       0.18       0.18  
April 30 (d)     355,154       293,220       5,676       4,701       4,237       0.19       0.19  
July 31(e)     368,075       309,139       6,225       11,419       11,019       0.49       0.48  
TOTAL   $ 1,496,261     $ 1,246,594     $ 26,203     $ 25,358     $ 23,514     $ 1.03     $ 1.03  

 

  (a) Included in net income was a benefit from income taxes of $16.6 million from the full recognition of certain deferred tax assets.

 

  (b) Included in loss from operations was expense of $10.1 million related to a legal settlement and mutual release, including legal fees incurred in the quarter.

 

  (c) Included in net loss was income tax expense of $11.1 million from an increase in the valuation allowance on deferred tax assets.

 

  (d) Included in income from operations was gain on sale of interest in Fabrix Systems Ltd. of $1.1 million.

 

  (e) Included in income from operations was severance expense of $6.3 million and gain on sale of member interest in Visa Europe Ltd. of $7.5 million.