In this presentation and in our written responses to questions thereafter, we make reference to adjusted EBITDA. Adjusted EBITDA for all periods discussed during our remarks is a non-GAAP measure representing income from operations or loss from operations, exclusive of depreciation and amortization and other operating gains or losses.Adjusted EBITDA is one key financial metric management uses to evaluate the operating performance of the company and its segments. A schedule provided in the earnings release reconciles adjusted EBITDA to the nearest corresponding GAAP measure, income or loss from operations for each of our segments and for the company as a whole. Now to begin the discussion of our financial and operating results, here is IDT Corporation's Chairman and CEO, Howard Jonas. Howard S. Jonas Thank you, Bill. On October 28, IDT completed the spinoff of Genie Energy to our shareholders. The spinoff reflects years of effort here at IDT. We built an entire new and exciting business segment from scratch, then we separated from IDT where its long-term potential for shareholders could best be realized. We have generated value for our shareholders in various ways during our history. From the IPO of Net2Phone to selling IDT Entertainment to paying dividends and now spinning off Genie Energy, we find the opportunities to take the bold moves necessary to realize value. With Genie now standing on its own, IDT offers a more focused investment opportunity. There is a remarkable transformation going on within IDT Telecom that holds tremendous promise. And now, we can also shine a brighter light on Fabrix surge and our Spectrum licenses and our Net2Phone IP, all of which have upside potential. Samuel Jonas, our Chief Operating Officer, will be going over the quarter's financial results with you shortly, but I want to point out the profitability of the first quarter of fiscal 2012 was impacted by the $10 million settlement of an outstanding legal claim by T-Mobile resulting from a dispute over a wholesale supply contract.
Also in the quarter, IDT paid fiscal 2011 performance compensation to certain employees which were accrued in the course of last year totaling $5.7 million. That payment, along with the T-Mobile settlement, represented about a $16 million reduction in cash flow from operations. Had it not been for these items, our cash from operations would have been positive on the quarter.In light of these results and our continued confidence in the profitability of our operating businesses, earlier today, IDT's Board of Directors declared a dividend of $0.13, slightly under $3 million for the first quarter. This reflects our determination to continue to return value to shareholders as the company's performance, financial resources and strategic situation permits. Now I'd like to talk at a high level about IDT Telecom. There are 2 competing storylines within our core businesses. One is the decline of some of the lines of business traditionally associated with IDT Telecom, our Consumer Phone Service businesses, traditional prepaid calling card sold in independent retail stores and bodegas, and our cable telephony businesses are in secular decline. Here, our strategy is simple: to reduce our cost and generate as much cash as possible for as long as possible. On the other side of the coin are the innovative new products and services such as the Boss Revolution payment platform and international mobile top-up, which along with our revitalized wholesale carrier business, have become the key drivers of our top line growth. In fact, Boss Revolution, which we launched less than 3 years ago in the United States, already generates higher revenue than all of our traditional prepaid calling cards sold in the U.S. through comparable channels. Boss Revolution-related revenue this quarter increased over 400% compared to the year ago. Read the rest of this transcript for free on seekingalpha.com