----

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| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

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|                                                          |                                   |
|---------------------------------------------------------------|----------------------------------------|
| Delaware                                                      | 22-3415036                             |
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification Number) |
|                                                          |                                   |
| 520 Broad Street, Newark, New Jersey                          | 07102                                  |
| (Address of principal executive offices)                      | (Zip Code)                             |

|                              |                                                            |                                |   |
|-----------------------------------|-----------------------------------------------------------------|-------------------------------------|--------|
| Large accelerated filer |  ̈                                                          | Accelerated filer              |  ̈ |
|                              |                                                            |                                |   |
| Non-accelerated filer             |  ̈  (Do not check if a smaller reporting company) | Smaller reporting company | x      |

|                                                                |                                                                |
|---------------------------------------------------------------------|---------------------------------------------------------------------|
| Class A common stock, $.01 par value:                          | 1,574,327 shares outstanding (excluding 1,698,000 treasury shares)  |
| Class B common stock, $.01 par value: | 21,415,901 shares outstanding (excluding 2,167,877 treasury shares) |

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|   PART I.  FINANCIAL INFORMATION |        3                                                 |
|-------------------------------------------------|---------------------------------------------------------------------------------------------|
|                                            |                                                                                        |   |
| Item 1.                                    | Financial Statements (Unaudited)                                                            |        3 |
|                                            |                                                                                        |   |
|                                            | Condensed Consolidated Balance Sheets                                                       |        3 |
|                                            |                                                                                        |   |
|                                            | Condensed Consolidated Statements of Operations                                             |        4 |
|                                            |                                                                                        |   |
|                                            | Condensed Consolidated Statements of Cash Flows                                             |        5 |
|                                            |                                                                                        |   |
|                                            | Notes to Condensed Consolidated Financial Statements                                        |        6 |
|                                            |                                                                                        |   |
| Item 2.                                    | Management’s Discussion and Analysis of Financial Condition and Results of Operations |  22 |
|                                            |                                                                                        |   |
| Item 3.                                    | Quantitative and Qualitative Disclosures About Market Risks                                 |  41 |
|                                            |                                                                                        |   |
| Item 4.                                    | Controls and Procedures                                                                     |  41 |
|                                            |                                                                                        |
|   PART II.  OTHER INFORMATION    |  42                                                                                    |
|                                            |                                                                                        |   |
| Item 1.                                    | Legal Proceedings                                                                           |  42 |
|                                            |                                                                                        |   |
| Item 1A.                                   | Risk Factors                                                                                |  42 |
|                                            |                                                                                        |   |
| Item 2.                                    | Unregistered Sales of Equity Securities and Use of Proceeds                                 |  42 |
|                                            |                                                                                        |   |
| Item 3.                                    | Defaults Upon Senior Securities                                                             |  42 |
|                                            |                                                                                        |   |
| Item 4.                                    | Removed and Reserved                                                                        |  42 |
|                                            |                                                                                        |   |
| Item 5.                                    | Other Information                                                                           |  42 |
|                                            |                                                                                        |   |
| Item 6.                                    | Exhibits                                                                                    |       42 |
|                                            |                                                                                        |
|   SIGNATURES                               | 43                                                                                          |

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|                                                                                                                                                                                                                                        |   | April 30,2011  |     |   | July 31,2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|----------|--------|-------------------|--------|
|                                                                                                                                                                                                                                        |   | (Unaudited)    |     |   | (Note 1)          |   |
|                                                                                                                                                                                                                                        |   | (in thousands) |     |
| Assets                                                                                                                                                                                                                                      |   |           |     |   |              |   |
| Current assets:                                                                                                                                                                                                                             |   |           |     |   |              |   |
| Cash and cash equivalents                                                                                                                                                                                                                   |   | $              | 269,255  |   |              | $      | 221,753 |   |
| Restricted cash and cash equivalents                                                                                                                                                                                                        |   |           | 6,974    |   |              |   | 11,831 |   |
| Certificates of deposit                                                                                                                                                                                                                     |   |           | 3,633    |   |              |   | 300 |   |
| Marketable securities                                                                                                                                                                                                                       |   |           | —  |   |              |   | 221 |   |
| Trade accounts receivable, net of allowance for doubtful accounts of $14,651 at April 30, 2011 and $12,628 at July 31, 2010                                                                                                                 |   |           | 128,206  |   |              |   | 105,232 |   |
| Prepaid expenses                                                                                                                                                                                                                            |   |           | 23,174   |   |              |   | 25,476 |   |
| Investments—short-term                                                                                                                                                                                                                |   |           | 208      |   |              |   | 1,217 |   |
| Other current assets                                                                                                                                                                                                                        |   |           | 18,641   |   |              |   | 15,084 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total current assets                                                                                                                                                                                                                        |   |           | 450,091  |   |              |   | 381,114 |   |
| Property, plant and equipment, net                                                                                                                                                                                                          |   |           | 90,862   |   |              |   | 96,892 |   |
| Goodwill                                                                                                                                                                                                                                    |   |           | 18,757   |   |              |   | 18,429 |   |
| Other intangibles, net                                                                                                                                                                                                                      |   |           | 2,879    |   |              |   | 3,675 |   |
| Investments—long-term                                                                                                                                                                                                                 |   |           | 8,458    |   |              |   | 8,375 |   |
| Other assets                                                                                                                                                                                                                                |   |           | 10,221   |   |              |   | 9,310 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total assets                                                                                                                                                                                                                                |   | $              | 581,268  |   |              | $      | 517,795 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Liabilities and equity                                                                                                                                                                                                                      |   |           |     |   |              |   |   |   |
| Current liabilities:                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Trade accounts payable                                                                                                                                                                                                                      |   | $              | 59,647   |   |              | $      | 52,957 |   |
| Accrued expenses                                                                                                                                                                                                                            |   |           | 154,953  |   |              |   | 143,822 |   |
| Deferred revenue                                                                                                                                                                                                                            |   |           | 82,205   |   |              |   | 69,186 |   |
| Income taxes payable                                                                                                                                                                                                                        |   |           | 9,380    |   |              |   | 10,085 |   |
| Capital lease obligations—current portion                                                                                                                                                                                             |   |           | 2,793    |   |              |   | 6,032 |   |
| Notes payable—current portion                                                                                                                                                                                                         |   |           | 642      |   |              |   | 628 |   |
| Other current liabilities                                                                                                                                                                                                                   |   |           | 8,157    |   |              |   | 2,272 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total current liabilities                                                                                                                                                                                                                   |   |           | 317,777  |   |              |   | 284,982 |   |
| Capital lease obligations—long-term portion                                                                                                                                                                                           |   |           | —  |   |              |   | 407 |   |
| Notes payable—long-term portion                                                                                                                                                                                                       |   |           | 33,540   |   |              |   | 33,640 |   |
| Other liabilities                                                                                                                                                                                                                           |   |           | 10,904   |   |              |   | 12,793 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total liabilities                                                                                                                                                                                                                           |   |           | 362,221  |   |              |   | 331,822 |   |
| Commitments and contingencies                                                                                                                                                                                                               |   |           |     |   |              |   |   |   |
| Equity:                                                                                                                                                                                                                                     |   |           |     |   |              |   |   |   |
|    IDT Corporation stockholders’ equity:                                                                                                                                                                                    |   |           |     |   |              |   |   |   |
| Preferred stock, $.01 par value; authorized shares—10,000; no shares issued                                                                                                                                                           |   |           | —  |   |              |   | — |   |
| Common stock, $.01 par value; authorized shares—nil and 100,000 at April 30, 2011 and July 31, 2010, respectively; nil and 9,241 shares issued and nil and 3,728 shares outstanding at April 30, 2011 and July 31, 2010, respectively |   |           | —  |   |              |   | 92 |   |
| Class A common stock, $.01 par value; authorized shares—35,000; 3,272 shares issued and 1,574 and 3,272 shares outstanding at April 30, 2011 and July 31, 2010, respectively                                                     |   |           | 33       |   |              |   | 33 |   |
| Class B common stock, $.01 par value; authorized shares—200,000; 23,584 and 23,213 shares issued and 21,416 and 15,625 shares outstanding at April 30, 2011 and July 31, 2010, respectively                                           |   |           | 236      |   |              |   | 232 |   |
| Additional paid-in capital                                                                                                                                                                                                                  |   |           | 520,199  |   |              |   | 711,701 |   |
| Treasury stock, at cost, consisting of nil and 5,513 shares of common stock, 1,698 and nil shares of Class A common stock and 2,168 and 7,588 shares of Class B common stock at April 30, 2011 and July 31, 2010, respectively              |   |           | (87,237  | )      |              |   | (295,626 | ) |
| Accumulated other comprehensive income (loss)                                                                                                                                                                                               |   |           | 3,059    |   |              |   | (1,017 | ) |
| Accumulated deficit                                                                                                                                                                                                                         |   |           | (215,002 | )      |              |   | (231,626 | ) |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total IDT Corporation stockholders’ equity                                                                                                                                                                                            |   |           | 221,288  |   |              |   | 183,789 |   |
|    Noncontrolling interests:                                                                                                                                                                                                      |   |           |     |   |              |   |   |   |
| Noncontrolling interests                                                                                                                                                                                                                    |   |           | (1,241   | )      |              |   | 2,184 |   |
| Receivable for issuance of equity                                                                                                                                                                                                           |   |           | (1,000   | )      |              |   | — |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
|     Total noncontrolling interests                                                                                                                                                                                      |   |           | (2,241   | )      |              |   | 2,184 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
|           Total equity                                                                                                                                                                         |   |           | 219,047  |   |              |   | 185,973 |   |
|                                                                                                                                                                                                                                        |   |           |     |   |              |   |   |   |
| Total liabilities and equity                                                                                                                                                                                                                |   | $              | 581,268  |   |              | $      | 517,795 |   |

----

|                                                                                                 |   | Three Months EndedApril 30,           |    |   | Nine Months EndedApril 30, |   |
|------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|--------|----------------------------|--------|
|                                                                                                 |   | 2011                                  |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                                                                 |   | (in thousands, except per share data) |    |
| Revenues                                                                                             |   | $                                     | 396,964 |   |                       | $      | 355,423 |   |   | $ | 1,155,848 |   |   | $ | 1,045,424 |   |
| Costs and expenses:                                                                                  |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Direct cost of revenues (exclusive of depreciation and amortization)                                 |   |                                  | 319,602 |   |                       |   | 281,242 |   |   |   | 932,065 |   |   |   | 827,901 |   |
| Selling, general and administrative (i)                                                              |   |                                  | 62,696  |   |                       |   | 53,819 |   |   |   | 180,609 |   |   |   | 166,495 |   |
| Depreciation and amortization                                                                        |   |                                  | 5,243   |   |                       |   | 7,614 |   |   |   | 16,439 |   |   |   | 25,440 |   |
| Research and development                                                                             |   |                                  | 3,192   |   |                       |   | 2,269 |   |   |   | 7,735 |   |   |   | 5,761 |   |
| Severance and other charges                                                                          |   |                                  | — |   |                       |   | 2,888 |   |   |   | 1,053 |   |   |   | 4,451 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total costs and expenses                                                                             |   |                                  | 390,733 |   |                       |   | 347,832 |   |   |   | 1,137,901 |   |   |   | 1,030,048 |   |
| Other operating gains, net                                                                           |   |                                  | — |   |                       |   | 8,985 |   |   |   | 7,389 |   |   |   | 8,985 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from operations                                                                               |   |                                  | 6,231   |   |                       |   | 16,576 |   |   |   | 25,336 |   |   |   | 24,361 |   |
| Interest expense, net                                                                                |   |                                  | (1,395  | )      |                       |   | (1,559 | ) |   |   | (4,614 | ) |   |   | (4,848 | ) |
| Other (expense) income, net                                                                          |   |                                  | (1,571  | )      |                       |   | 978 |   |   |   | 1,419 |   |   |   | (103 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations before income taxes                                                |   |                                  | 3,265   |   |                       |   | 15,995 |   |   |   | 22,141 |   |   |   | 19,410 |   |
| Benefit from (provision for) income taxes                                                            |   |                                  | 2,557   |   |                       |   | (3,465 | ) |   |   | 2,710 |   |   |   | (6,257 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations                                                                    |   |                                  | 5,822   |   |                       |   | 12,530 |   |   |   | 24,851 |   |   |   | 13,153 |   |
| Discontinued operations, net of tax                                                                  |   |                                  | — |   |                       |   | (39 | ) |   |   | — |   |   |   | (400 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                           |   |                                  | 5,822   |   |                       |   | 12,491 |   |   |   | 24,851 |   |   |   | 12,753 |   |
| Net loss attributable to noncontrolling interests                                                    |   |                                  | 1,179   |   |                       |   | 116 |   |   |   | 1,734 |   |   |   | 82 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to IDT Corporation                                                           |   | $                                     | 7,001   |   |                       | $      | 12,607 |   |   | $ | 26,585 |   |   | $ | 12,835 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Amounts attributable to IDT Corporation common stockholders:                                         |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations                                                                    |   | $                                     | 7,001   |   |                       | $      | 12,646 |   |   | $ | 26,585 |   |   | $ | 13,134 |   |
| Loss from discontinued operations                                                                    |   |                                  | — |   |                       |   | (39 | ) |   |   | — |   |   |   | (299 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                           |   | $                                     | 7,001   |   |                       | $      | 12,607 |   |   | $ | 26,585 |   |   | $ | 12,835 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per share attributable to IDT Corporation common stockholders:                              |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Basic:                                                                                               |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations                                                                    |   | $                                     | 0.34    |   |                       | $      | 0.61 |   |   | $ | 1.29 |   |   | $ | 0.64 |   |
| Loss from discontinued operations                                                                    |   |                                  | — |   |                       |   | — |   |   |   | — |   |   |   | (0.01 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                           |   | $                                     | 0.34    |   |                       | $      | 0.61 |   |   | $ | 1.29 |   |   | $ | 0.63 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Weighted-average number of shares used in calculation of basic earnings per share                    |   |                                  | 20,627  |   |                       |   | 20,523 |   |   |   | 20,578 |   |   |   | 20,425 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Diluted:                                                                                             |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations                                                                    |   | $                                     | 0.31    |   |                       | $      | 0.58 |   |   | $ | 1.18 |   |   | $ | 0.61 |   |
| Loss from discontinued operations                                                                    |   |                                  | — |   |                       |   | — |   |   |   | — |   |   |   | (0.01 | ) |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                           |   | $                                     | 0.31    |   |                       | $      | 0.58 |   |   | $ | 1.18 |   |   | $ | 0.60 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Weighted-average number of shares used in calculation of diluted earnings per share                  |   |                                  | 22,585  |   |                       |   | 21,878 |   |   |   | 22,474 |   |   |   | 21,310 |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Dividends declared per common share                                                                  |   | $                                     | — |   |                       | $      | — |   |   | $ | 0.44 |   |   | $ | — |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                 |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| (i)  (i) Stock-based compensation included in selling, general and administrative expenses |   | $                                     | 1,768   |   |                       | $      | 317 |   |   | $ | 4,360 |   |   | $ | 2,207 |   |

----

|                                                                                                          |   | Nine Months EndedApril 30, |    |
|---------------------------------------------------------------------------------------------------------------|--------|----------------------------|---------|
|                                                                                                          |   | 2011                       |    |   | 2010 |   |
|                                                                                                          |   | (in thousands)             |    |
| Net cash provided by operating activities                                                                     |   | $                          | 50,450  |   |   | $ | 47,467 |   |
| Investing activities                                                                                          |   |                       |    |   |   |   |   |   |
| Capital expenditures                                                                                          |   |                       | (9,186  | ) |   |   | (6,593 | ) |
| Collection of notes receivable, net                                                                           |   |                       | — |   |   |   | 71 |   |
| Capital contributions to AMSO, LLC                                                                            |   |                       | (3,942  | ) |   |   | (744 | ) |
| Increase in investments                                                                                       |   |                       | (50     | ) |   |   | — |   |
| Proceeds from sale and redemption of investments                                                              |   |                       | 1,688   |   |   |   | 2,349 |   |
| Decrease in restricted cash and cash equivalents                                                              |   |                       | 4,857   |   |   |   | 51,216 |   |
| Proceeds from sales of buildings                                                                              |   |                       | 100     |   |   |   | 5,150 |   |
| Proceeds from insurance                                                                                       |   |                       | 3,524   |   |   |   | 250 |   |
| Proceeds from marketable securities                                                                           |   |                       | 5,731   |   |   |   | 4,618 |   |
| Purchases of certificates of deposit                                                                          |   |                       | (5,503  | ) |   |   | — |   |
| Proceeds from maturities of certificates of deposit                                                           |   |                       | 2,167   |   |   |   | — |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Net cash (used in) provided by investing activities                                                           |   |                       | (614    | ) |   |   | 56,317 |   |
| Financing activities                                                                                          |   |                       |    |   |   |   |   |   |
| Cash of subsidiaries deconsolidated as a result of the CTM Spin-Off                                           |   |                       | — |   |   |   | (9,775 | ) |
| Dividends paid                                                                                                |   |                       | (9,961  | ) |   |   | — |   |
| Distributions to noncontrolling interests                                                                     |   |                       | (1,625  | ) |   |   | (1,499 | ) |
| Proceeds from sales of stock of subsidiaries                                                                  |   |                       | 10,000  |   |   |   | 5,690 |   |
| Proceeds from exercise of stock options                                                                       |   |                       | 1,654   |   |   |   | — |   |
| Repayments of capital lease obligations                                                                       |   |                       | (3,729  | ) |   |   | (4,519 | ) |
| Repayments of borrowings                                                                                      |   |                       | (469    | ) |   |   | (475 | ) |
| Repurchases of common stock and Class B common stock                                                          |   |                       | — |   |   |   | (1,795 | ) |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Net cash used in financing activities                                                                         |   |                       | (4,130  | ) |   |   | (12,373 | ) |
| Discontinued operations                                                                                       |   |                       |    |   |   |   |   |   |
| Net cash provided by operating activities                                                                     |   |                       | — |   |   |   | 930 |   |
| Net cash used in investing activities                                                                         |   |                       | — |   |   |   | (44 | ) |
| Net cash used in financing activities                                                                         |   |                       | — |   |   |   | (471 | ) |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Net cash provided by discontinued operations                                                                  |   |                       | — |   |   |   | 415 |   |
| Effect of exchange rate changes on cash and cash equivalents                                                  |   |                       | 1,796   |   |   |   | (737 | ) |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                                     |   |                       | 47,502  |   |   |   | 91,089 |   |
| Cash and cash equivalents at beginning of period                                                              |   |                       | 221,753 |   |   |   | 124,382 |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                                    |   | $                          | 269,255 |   |   | $ | 215,471 |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Supplemental schedule of non-cash financing and investing activities                                          |   |                       |    |   |   |   |   |   |
| Receivable for issuance of equity of subsidiary                                                               |   | $                          | 1,000   |   |   | $ | — |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Mortgage note payable settled in connection with the sale of building                                         |   | $                          | — |   |   | $ | 6,137 |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |
| Net assets excluding cash and cash equivalents of subsidiaries deconsolidated as a result of the CTM Spin-Off |   | $                          | — |   |   | $ | 6,011 |   |
|                                                                                                          |   |                       |    |   |   |   |   |   |

----

| ●   | In the condensed consolidated balance sheet, certificates of deposit of $0.3 million at July 31, 2010 previously included in “Investments-short-term” have been reclassified to “Certificates of deposit”; |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | In the condensed consolidated statement of operations, bad debt expense of $1.2 million and $2.1 million in the three and nine months ended April 30, 2010, respectively, previously stated separately has been included in “Selling, general and administrative expenses”; and |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | In the condensed consolidated statement of operations, impairment charges of less than $0.1 million in the three months ended April 30, 2010 and reversals of impairment charges of $0.1 million in the nine months ended April 30, 2010 previously stated separately have been included in “Severance and other charges”. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                       |   | Three Months EndedApril 30, |    |   | Nine Months EndedApril 30, |   |
|----------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                       |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                       |   | (in thousands)              |    |
| Revenues                   |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | 4,045 |   |
|                       |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | 40 |   |
|                       |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                   |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | (170 | ) |
|                       |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

|                                                                   |   | Three Months EndedApril 30, |    |   | Nine Months EndedApril 30, |   |
|------------------------------------------------------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                                                                   |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                                   |   | (in thousands)              |    |
|   Telecom Platform Services-gain on termination of agreement      |   | $                           | — |   |                       | $      | — |   |   | $ | 14,375 |   |   | $ | — |   |
|   Telecom Platform Services-loss from alleged patent infringement |   |                        | — |   |                       |   | — |   |   |   | (9,763 | ) |   |   | — |   |
|   Telecom Platform Services-gain on settlement of litigation      |   |                        | — |   |                       |   | 10,000 |   |   |   | — |   |   |   | 10,000 |   |
| Corporate-other                                                        |   |                        | — |   |                       |   | — |   |   |   | (500 | ) |   |   | — |   |
| All Other-gain on insurance claim                                      |   |                        | — |   |                       |   | — |   |   |   | 2,637 |   |   |   | — |   |
|   All Other-gain on settlement of IDT Global Israel claims        |   |                        | — |   |                       |   | 485 |   |   |   | — |   |   |   | 485 |   |
|   All Other-(loss) gain from the settlement of other claims       |   |                        | — |   |                       |   | (1,500 | ) |   |   | 640 |   |   |   | (1,500 | ) |
|                                                                   |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                  |   | $                           | — |   |                       | $      | 8,985 |   |   | $ | 7,389 |   |   | $ | 8,985 |   |
|                                                                   |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

|   | Amortized Cost |   | Gross Unrealized Gains |   | Gross Unrealized Losses |   | Fair Value |
|--------|----------------|--------|------------------------|--------|-------------------------|--------|------------|
|   | (in thousands) |

|   Available-for-sale securities: |   |   |   |   |   |   |    |   |   |   |   |   |
|---------------------------------------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|--------|
| Debt securities                       |   | $      | 352    |   |   | $      | — |   |   | $      | (131   | )      |   | $ | 221 |   |
|                                  |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |

|                   |   | Unrealized Losses |   |   | Fair Value |   |
|------------------------|--------|-------------------|--------|--------|------------|--------|
|                   |   | (in thousands)    |   |
|   Debt securities |   | $                 | 131    |   |       | $      | 218 |   |
|                   |   |              |   |   |       |   |   |   |

----

|                   |   | Level 1 (1) |    |   | Level 2 (2)  |   |    | Level 3 (3)  |   |   | Total  |   |
|------------------------|--------|-----------------------|---------|--------|-----------------------------|--------|---------|-----------------------------|--------|--------|-------------|--------|
|                   |   | (in thousands)        |    |
|   April 30, 2011: |   |                  |    |   |                        |   |    |                        |   |   |        |   |
|   Assets:         |   |                  |    |   |                        |   |    |                        |   |   |        |   |
| Derivative contracts   |   | $                     | 294     |   |                        | $      | — |                        |   | $      | —     |   |   | $ | 294 |   |
|                   |   |                  |    |   |                        |   |    |                        |   |   |        |   |   |   |   |   |
|   Liabilities:    |   |                  |    |   |                        |   |    |                        |   |   |        |   |   |   |   |   |
| Derivative contracts   |   | $                     | — |   |                        | $      | — |                        |   | $      | 895         |   |   | $ | 895 |   |
|                   |   |                  |    |   |                        |   |    |                        |   |   |        |   |   |   |   |   |

|   July 31, 2010: |   |   |   |   |   |   |    |   |   |   |   |   |
|-----------------------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|--------|
|   Assets:        |   |   |   |   |   |   |    |   |   |   |   |   |
| Debt securities       |   | $      | 3      |   |   | $      | — |   |   | $      | 218    |   |   | $ | 221 |   |
|                  |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |
|   Liabilities:   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |
| Derivative contracts  |   | $      | 87     |   |   | $      | — |   |   | $      | 200    |   |   | $ | 287 |   |
|                  |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                           |   | Three Months EndedApril 30, 2011 |    |   | Three Months EndedApril 30, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|----------------------------------|--------|
|                                                                                                                                                                                                           |   | Assets                           |    |   | Liabilities                      |   |   | Assets |   |   | Liabilities |   |
|                                                                                                                                                                                                           |   | (in thousands)                   |    |
|   Balance, beginning of period                                                                                                                                                                            |   | $                                | — |   |                             | $      | (980 | ) |   | $ | 429 |   |   | $ | — |   |
|   Total gains (losses) (realized or unrealized):                                                                                                                                                          |   |                             |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Included in earnings in “Other (expense) income, net”                                                                                                                                              |   |                             | — |   |                             |   | — |   |   |   | — |   |   |   | — |   |
| Included in earnings in “Selling, general and administrative expense”                                                                                                                              |   |                             | — |   |                             |   | 85 |   |   |   | — |   |   |   | — |   |
| Included in other comprehensive income                                                                                                                                                                         |   |                             | — |   |                             |   | — |   |   |   | 155 |   |   |   | — |   |
|   Purchases, sales, issuances and settlements                                                                                                                                                             |   |                             | — |   |                             |   | — |   |   |   | — |   |   |   | (200 | ) |
|   Transfers in (out) of Level 3                                                                                                                                                                           |   |                             | — |   |                             |   | — |   |   |   | — |   |   |   | — |   |
|                                                                                                                                                                                                           |   |                             |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |
|   Balance, end of period                                                                                                                                                                                  |   | $                                | — |   |                             | $      | (895 | ) |   | $ | 584 |   |   | $ | (200 | ) |
|                                                                                                                                                                                                           |   |                             |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |
|   The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held at the end of the period: |   |                             |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |
| Included in “Selling, general and administrative expense”                                                                                                                                          |   | $                                | — |   |                             | $      | 85 |   |   | $ | — |   |   | $ | — |   |
|                                                                                                                                                                                                           |   |                             |    |   |                             |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                                                                           |   | Nine Months EndedApril 30, 2011 |    |   | Nine Months EndedApril 30, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|---------|--------|---------------------------------|--------|
|                                                                                                                                                                                                           |   | Assets                          |    |   | Liabilities                     |   |   | Assets |   |   | Liabilities |   |
|                                                                                                                                                                                                           |   | (in thousands)                  |    |
|   Balance, beginning of period                                                                                                                                                                            |   | $                               | 218     |   |                            | $      | (200 | ) |   | $ | 5,685 |   |   | $ | (686 | ) |
|   Total gains (losses) (realized or unrealized):                                                                                                                                                          |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Included in earnings in “Other (expense) income, net”                                                                                                                                              |   |                            | 5,379   |   |                            |   | (280 | ) |   |   | (156 | ) |   |   | 286 |   |
| Included in earnings in “Selling, general and administrative expense”                                                                                                                              |   |                            | — |   |                            |   | 141 |   |   |   | — |   |   |   | — |   |
| Included in other comprehensive income                                                                                                                                                                         |   |                            | 131     |   |                            |   | — |   |   |   | 55 |   |   |   | — |   |
|   Purchases, sales, issuances and settlements                                                                                                                                                             |   |                            | (5,728  | )      |                            |   | (556 | ) |   |   | (5,000 | ) |   |   | 200 |   |
|   Transfers in (out) of Level 3                                                                                                                                                                           |   |                            | — |   |                            |   | — |   |   |   | — |   |   |   | — |   |
|                                                                                                                                                                                                           |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |
|   Balance, end of period                                                                                                                                                                                  |   | $                               | — |   |                            | $      | (895 | ) |   | $ | 584 |   |   | $ | (200 | ) |
|                                                                                                                                                                                                           |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |
|   The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held at the end of the period: |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Included in “Other (expense) income, net”                                                                                                                                                          |   | $                               | — |   |                            | $      | (280 | ) |   | $ | — |   |   | $ | — |   |
|                                                                                                                                                                                                           |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Included in “Selling, general and administrative expense”                                                                                                                                          |   | $                               | — |   |                            | $      | 141 |   |   | $ | — |   |   | $ | — |   |
|                                                                                                                                                                                                           |   |                            |    |   |                            |   |   |   |   |   |   |   |   |   |   |   |

----

| Commodity   | Settlement Date | Volume      |
|-------------|-----------------|-------------|
| Electricity | May 2011        | 8,400 MWh   |
| Electricity | May 2011        | 840 MWh     |
| Electricity | June 2011       | 17,600 MWh  |
| Electricity | June 2011       | 17,600 MWh  |
| Electricity | June 2011       | 17,600 MWh  |
| Electricity | July 2011       | 16,000 MWh  |
| Electricity | July 2011       | 16,000 MWh  |
| Electricity | August 2011     | 18,400 MWh  |
| Electricity | August 2011     | 18,400 MWh  |
| Electricity | December 2011   | 16,800 MWh  |
| Electricity | December 2011   | 16,800 MWh  |
| Natural gas | July 2011       | 100,000 Dth |
| Natural gas | December 2011   | 500,000 Dth |

| Asset Derivatives                                                           |   | Balance Sheet Location |   | April 30, 2011 |   |   | July 31, 2010 |   |
|-----------------------------------------------------------------------------|--------|------------------------|--------|----------------|--------|--------|---------------|--------|
|                                                                        |   |                   |   | (in thousands) |   |
|   Derivatives not designated or not qualifying as hedging instruments: |   |                   |   |           |   |   |          |   |
|   Energy contracts and options                                         |   | Other current assets   |   | $              | 294    |   |          | $      | — |   |
|                                                                        |   |                   |   |           |   |   |          |   |   |   |

| Liability Derivatives                                                       |   | Balance Sheet Location    |   | April 30, 2011 |    |   | July 31, 2010 |   |
|-----------------------------------------------------------------------------|--------|---------------------------|--------|----------------|---------|--------|---------------|--------|
|                                                                        |   |                      |   | (in thousands) |    |
|   Derivatives not designated or not qualifying as hedging instruments: |   |                      |   |           |    |   |          |   |
|   Energy contracts                                                     |   | Other current liabilities |   | $              | — |   |          | $      | 87 |   |
|   GOGI warrants                                                        |   | Other current liabilities |   |           | 415     |   |          |   | — |   |
|   GEIC stock option                                                    |   | Other liabilities         |   |           | 480     |   |          |   | 200 |   |
|                                                                        |   |                      |   |           |    |   |          |   |   |   |
| Total liability derivatives                                                 |   |                      |   | $              | 895     |   |          | $      | 287 |   |
|                                                                        |   |                      |   |           |    |   |          |   |   |   |

----

|                                                                                 |                                               | Amount of Gain (Loss) Recognized on Derivatives |           |
|--------------------------------------------------------------------------------------|----------------------------------------------------|-------------------------------------------------|----------------|
|                                                                                 |                                               |                                            |           |   |   |   |   |   |   |   |   |   |
|                                                                                 |                                               | Three Months EndedApril 30,                     |           |   | Nine Months EndedApril 30, |   |
|  Derivatives not designated or not qualifying as  hedging instruments | Location of Gain (Loss) Recognized on Derivatives  |                                            | 2011           |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |
|                                                                                 |                                               |                                            | (in thousands) |   |
| Energy contracts and options                                                         |   Direct cost of revenues                     |                                            | $              | 9 |   |   | $ | 48 |   |   | $ | 381 |   |   | $ | 402 |   |
| GOGI warrants                                                                        |   Selling, general and administrative expense |                                            |           | 85 |   |   |   | — |   |   |   | (415 | ) |   |   | — |   |
| GEIC stock option                                                                    |   Other (expense) income, net                 |                                            |           | — |   |   |   | — |   |   |   | (280 | ) |   |   | — |   |
| Structured note embedded derivative                                                  |   Other (expense) income, net                 |                                            |           | — |   |   |   | — |   |   |   | — |   |   |   | 286 |   |
|                                                                                 |                                               |                                            |           |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                                |                                               |                                            | $              | 94 |   |   | $ | 48 |   |   | $ | (314 | ) |   | $ | 688 |   |
|                                                                                 |                                               |                                            |           |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Nine Months Ended April 30, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2011                        |   |   | 2010 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (in thousands)              |   |
| Balance, beginning of period                                                                         |   | $                           | 666    |   |   | $ | 278 |   |
| Capital contributions                                                                                |   |                        | 3,942  |   |   |   | 744 |   |
| Equity in net loss of AMSO, LLC                                                                      |   |                        | (2,936 | ) |   |   | (1,148 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                        |   |   |   |   |   |   |
| Balance, end of period                                                                               |   | $                           | 1,672  |   |   | $ | (126 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                        |   |   |   |   |   |   |

|                                                            |   | (in thousands) |   |
|-----------------------------------------------------------------|--------|----------------|--------|
|   AMSO’s total committed investment in AMSO, LLC     |   | $              | 10,000 |   |
|   Less: cumulative capital contributions to AMSO, LLC |   |           | (7,814 | ) |
|                                                            |   |           |   |   |
|    Estimated maximum exposure to additional loss      |   | $              | 2,186  |   |
|                                                            |   |           |   |   |

|                                           |   | April 30,2011  |   |   | July 31,2010 |   |
|------------------------------------------------|--------|----------------|--------|--------|-------------------|--------|
|                                           |   | (in thousands) |   |
| Assets                                         |   |           |   |   |              |   |
| Cash and cash equivalents                      |   | $              | 11,569 |   |              | $      | 4,446 |   |
| Other current assets                           |   |           | 233    |   |              |   | 210 |   |
| Equipment, net                                 |   |           | 19     |   |              |   | 15 |   |
| Other assets                                   |   |           | 566    |   |              |   | 453 |   |
|                                           |   |           |   |   |              |   |   |   |
| Total assets                                   |   | $              | 12,387 |   |              | $      | 5,124 |   |
|                                           |   |           |   |   |              |   |   |   |
| Liabilities and members’ interests       |   |           |   |   |              |   |   |   |
| Current liabilities                            |   | $              | 3,475  |   |              | $      | 1,366 |   |
| Other liabilities                              |   |           | 354    |   |              |   | 232 |   |
| Members’ interests                       |   |           | 8,558  |   |              |   | 3,526 |   |
|                                           |   |           |   |   |              |   |   |   |
| Total liabilities and members’ interests |   | $              | 12,387 |   |              | $      | 5,124 |   |
|                                           |   |           |   |   |              |   |   |   |

----

|                            |   | Three Months EndedApril 30, |    |   | Nine Months EndedApril 30, |   |
|---------------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                            |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                            |   | (in thousands)              |    |
| Revenues                        |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | — |   |
| Costs and expenses:             |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Research and development        |   |                        | 5,931   |   |                       |   | 2,181 |   |   |   | 14,680 |   |   |   | 5,740 |   |
|                            |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Total costs and expenses |   |                        | 5,931   |   |                       |   | 2,181 |   |   |   | 14,680 |   |   |   | 5,740 |   |
|                            |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Loss from operations     |   |                        | (5,931  | )      |                       |   | (2,181 | ) |   |   | (14,680 | ) |   |   | (5,740 | ) |
|   Other expense            |   |                        | (2      | )      |                       |   | (1 | ) |   |   | (1 | ) |   |   | (1 | ) |
|                            |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Net loss                 |   | $                           | (5,933  | )      |                       | $      | (2,182 | ) |   | $ | (14,681 | ) |   | $ | (5,741 | ) |
|                            |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

|                                 |   | Nine Months EndedApril 30, 2011 |    |
|--------------------------------------|--------|---------------------------------|---------|
|                                 |   | Attributable to IDT Corporation |    |   | Noncontrolling Interests |   |   | Total |   |
|                                 |   | (in thousands)                  |    |
| Balance, July 31, 2010               |   | $                               | 183,789 |   |   | $ | 2,184 |   |   | $ | 185,973 |   |
| Dividends declared ($0.44 per share) |   |                            | (9,961  | )   |   |   | — |   |   |   | (9,961 | ) |
| Exercise of stock options            |   |                            | 1,654   |   |   |   | — |   |   |   | 1,654 |   |
| Sales of stock of subsidiary         |   |                            | 11,200  |   |   |   | (1,189 | ) |   |   | 10,011 |   |
| Distributions                        |   |                            | — |   |   |   | (1,625 | ) |   |   | (1,625 | ) |
| Stock-based compensation             |   |                            | 3,945   |   |   |   | — |   |   |   | 3,945 |   |
| Comprehensive income:                |   |                            |    |   |   |   |   |   |   |   |   |   |
| Net income                           |   |                            | 26,585  |   |   |   | (1,734 | ) |   |   | 24,851 |   |
| Other comprehensive income           |   |                            | 4,076   |   |   |   | 123 |   |   |   | 4,199 |   |
|                                 |   |                            |    |   |   |   |   |   |   |   |   |   |
| Comprehensive income (loss)          |   |                            | 30,661  |   |   |   | (1,611 | ) |   |   | 29,050 |   |
|                                 |   |                            |    |   |   |   |   |   |   |   |   |   |
| Balance, April 30, 2011              |   | $                               | 221,288 |   |   | $ | (2,241 | ) |   | $ | 219,047 |   |
|                                 |   |                            |    |   |   |   |   |   |   |   |   |   |

----

----

|                                             |   | Three Months EndedApril 30, |   |   | Nine Months EndedApril 30, |   |
|--------------------------------------------------|--------|-----------------------------|--------|--------|----------------------------|--------|
|                                             |   | 2011                        |   |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                             |   | (in thousands)              |   |
|   Basic weighted-average number of shares   |   |                        | 20,627 |   |                       |   | 20,523 |   |   |   | 20,578 |   |   |   | 20,425 |   |
|   Effect of dilutive securities:            |   |                        |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Stock options                                    |   |                        | 9      |   |                       |   | — |   |   |   | 5 |   |   |   | — |   |
| Non-vested restricted common stock               |   |                        | 409    |   |                       |   | 610 |   |   |   | 666 |   |   |   | 458 |   |
| Non-vested restricted Class B common stock       |   |                        | 1,540  |   |                       |   | 745 |   |   |   | 1,225 |   |   |   | 427 |   |
|                                             |   |                        |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Diluted weighted-average number of shares |   |                        | 22,585 |   |                       |   | 21,878 |   |   |   | 22,474 |   |   |   | 21,310 |   |
|                                             |   |                        |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |

|                                                                      |   | Three Months EndedApril 30, |   |   | Nine Months EndedApril 30, |   |
|---------------------------------------------------------------------------|--------|-----------------------------|--------|--------|----------------------------|--------|
|                                                                      |   | 2011                        |   |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                                      |   | (in thousands)              |   |
|   Shares excluded from the calculation of diluted earnings per share |   |                        | 456    |   |                       |   | 771 |   |   |   | 527 |   |   |   | 852 |   |
|                                                                      |   |                        |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |

|                                                               |   | Three Months EndedApril 30, |    |   | Nine Months EndedApril 30, |   |
|--------------------------------------------------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                                                               |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                               |   | (in thousands)              |    |
|   Net income                                                  |   | $                           | 5,822   |   |                       | $      | 12,491 |   |   | $ | 24,851 |   |   | $ | 12,753 |   |
|   Foreign currency translation adjustments                    |   |                        | 2,908   |   |                       |   | (343 | ) |   |   | 4,070 |   |   |   | (276 | ) |
|   Unrealized (loss) gains on available-for-sale securities    |   |                        | — |   |                       |   | 154 |   |   |   | 129 |   |   |   | 54 |   |
|                                                               |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Comprehensive income                                        |   |                        | 8,730   |   |                       |   | 12,302 |   |   |   | 29,050 |   |   |   | 12,531 |   |
|   Comprehensive loss attributable to noncontrolling interests |   |                        | 1,062   |   |                       |   | 116 |   |   |   | 1,611 |   |   |   | 82 |   |
|                                                               |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Comprehensive income attributable to IDT Corporation        |   | $                           | 9,792   |   |                       | $      | 12,418 |   |   | $ | 30,661 |   |   | $ | 12,613 |   |
|                                                               |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

| (in thousands)                              |   | TelecomPlatformServices |    |   | ConsumerPhoneServices |   |    | IDTEnergy |   |   | Genie Oil and Gas |   |   | All Other |    |   | Corporate |   |    | Total  |   |
|---------------------------------------------|--------|-------------------------|---------|--------|-----------------------|--------|---------|-----------|--------|--------|-------------------|--------|--------|-----------|---------|--------|-----------|--------|---------|--------|--------|
| Three Months Ended April 30, 2011 |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |
| Revenues                                    |   | $                       | 334,470 |   |                  | $      | 6,266   |      |   | $      | 53,787            |   |   | $         | — |   |      | $      | 2,441   |   |   | $ | — |   |   | $ | 396,964 |   |
| Income (loss) from operations               |   |                    | 4,892   |   |                  |   | 1,523   |      |   |   | 8,596             |   |   |      | (2,684  | )      |      |   | (1,699  | )      |   |   | (4,397 | ) |   |   | 6,231 |   |
| Severance and other charges                 |   |                    | — |   |                  |   | — |      |   |   | —           |   |   |      | — |   |      |   | — |   |   |   | — |   |   |   | — |   |
|                                        |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Three Months Ended April 30, 2010 |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Revenues                                    |   | $                       | 291,345 |   |                  | $      | 8,623   |      |   | $      | 53,832            |   |   | $         | — |   |      | $      | 1,623   |   |   | $ | — |   |   | $ | 355,423 |   |
| Income (loss) from operations               |   |                    | 12,785  |   |                  |   | 2,439   |      |   |   | 9,922             |   |   |      | (1,984  | )      |      |   | (2,887  | )      |   |   | (3,699 | ) |   |   | 16,576 |   |
| Severance and other charges                 |   |                    | 825     |   |                  |   | — |      |   |   | —           |   |   |      | — |   |      |   | 8       |   |   |   | 2,055 |   |   |   | 2,888 |   |
|                                        |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Nine Months Ended April 30, 2011  |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Revenues                                    |   | $                       | 971,368 |   |                  | $      | 20,631  |      |   | $      | 157,144           |   |   | $         | — |   |      | $      | 6,705   |   |   | $ | — |   |   | $ | 1,155,848 |   |
| Income (loss) from operations               |   |                    | 19,760  |   |                  |   | 5,565   |      |   |   | 22,783            |   |   |      | (7,923  | )      |      |   | (1,595  | )      |   |   | (13,254 | ) |   |   | 25,336 |   |
| Severance and other charges                 |   |                    | 926     |   |                  |   | — |      |   |   | —           |   |   |      | — |   |      |   | — |   |   |   | 127 |   |   |   | 1,053 |   |
|                                        |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Nine Months Ended April 30, 2010  |   |                    |    |   |                  |   |    |      |   |   |              |   |   |      |    |   |      |   |    |   |   |   |   |   |   |   |   |   |
| Revenues                                    |   | $                       | 856,946 |   |                  | $      | 28,912  |      |   | $      | 154,891           |   |   | $         | — |   |      | $      | 4,675   |   |   | $ | — |   |   | $ | 1,045,424 |   |
| Income (loss) from operations               |   |                    | 9,884   |   |                  |   | 9,458   |      |   |   | 32,196            |   |   |      | (4,595  | )      |      |   | (8,947  | )      |   |   | (13,635 | ) |   |   | 24,361 |   |
| Severance and other charges                 |   |                    | 1,403   |   |                  |   | — |      |   |   | 63                |   |   |      | — |   |      |   | (74     | )      |   |   | 3,059 |   |   |   | 4,451 |   |

----

----

----

----

----

|   | • | IDT Telecom, which is comprised of Telecom Platform Services and Consumer Phone Services. Telecom Platform Services provides various telecommunications solutions including prepaid and rechargeable calling cards, a range of voice over Internet protocol, or VoIP, communications services and wholesale carrier services. Consumer Phone Services provides consumer local and long distance services in the United States. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Genie Energy, of which we own 96.8%, which is comprised of IDT Energy and our 94.5% interest in Genie Oil and Gas. IDT Energy operates our energy services company that resells electricity and natural gas to residential and small business customers in New York State, New Jersey and Pennsylvania. Genie Oil and Gas consists of (i) American Shale Oil Corporation, or AMSO, which holds and manages a 50% interest in American Shale Oil, L.L.C., or AMSO, LLC, our shale oil initiative in Colorado, (ii) an 89% interest in Israel Energy Initiatives, Ltd., or IEI, our shale oil initiative in Israel and (iii) an 84% interest in T.C.T. Thermal Cleaning Technologies Ltd., our in-situ thermal remediation services and technologies initiative in Israel. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                              |   | Three Months EndedApril 30, |    |   | Nine Months EndedApril 30, |   |
|-----------------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                              |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                              |   | (in millions)               |    |
|   Revenues                   |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | 4.0 |   |
|                              |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                              |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Income before income taxes |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | — |   |
|                              |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                              |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Net loss                   |   | $                           | — |   |                       | $      | — |   |   | $ | — |   |   | $ | (0.2 | ) |
|                              |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                        |   | (in millions) |   |
|-------------------------------------------------------------|--------|---------------|--------|
|   AMSO’s total committed investment in AMSO, LLC |   | $             | 10.0   |   |
|   Less: cumulative capital contributions to AMSO, LLC  |   |          | (7.8   | ) |
|                                                        |   |          |   |   |
|   Estimated maximum exposure to additional loss        |   | $             | 2.2    |   |
|                                                        |   |          |   |   |

----

|                  |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|-----------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|----------------------------|--------|--------|---------|--------|
|                  |   | 2011                                  |    |   | 2010   |   |    | $                          |   |   |    | %      |   |   |   | 2011 |   |   |   | 2010 |   |   | $ |   |   |   | % |   |
|                  |   | (in millions)                         |    |
|   Revenues       |   |                                  |    |   |   |   |    |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| IDT Telecom           |   | $                                     | 340.7   |   |   | $      | 300.0   |                       |   | $      | 40.7    |   |   |   | 13.6 | % |   | $ | 992.0 |   |   | $ | 885.9 |   |   | $ | 106.1 |   |   |   | 12.0 | % |
| IDT Energy            |   |                                  | 53.8    |   |   |   | 53.8    |                       |   |   | — |   |   |   | (0.1 | ) |   |   | 157.1 |   |   |   | 154.9 |   |   |   | 2.2 |   |   |   | 1.5 |   |
| Genie Oil and Gas     |   |                                  | — |   |   |   | — |                       |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| All Other             |   |                                  | 2.5     |   |   |   | 1.6     |                       |   |   | 0.9     |   |   |   | 50.4 |   |   |   | 6.7 |   |   |   | 4.6 |   |   |   | 2.1 |   |   |   | 43.4 |   |
|                  |   |                                  |    |   |   |   |    |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total revenues |   | $                                     | 397.0   |   |   | $      | 355.4   |                       |   | $      | 41.6    |   |   |   | 11.7 | % |   | $ | 1,155.8 |   |   | $ | 1,045.4 |   |   | $ | 110.4 |   |   |   | 10.6 | % |
|                  |   |                                  |    |   |   |   |    |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                |   | Three months endedApril 30, |    |   | Change |   |   | Nine months endedApril 30, |   |   | Change |   |
|-------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|--------|----------------------------|--------|--------|--------|--------|
|                                |   | 2011                                  |    |   | 2010   |   |   | $                          |   |   |   | %      |   |   |   | 2011 |   |   |   | 2010 |   |   | $ |   |   |   | % |   |
|                                |   | (in millions)                         |    |
|   Costs and expenses           |   |                                  |    |   |   |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Direct cost of revenues             |   | $                                     | 319.6   |   |   | $      | 281.2  |                       |   | $      | 38.4   |   |   |   | 13.6 | % |   | $ | 932.1 |   |   | $ | 827.9 |   |   | $ | 104.2 |   |   |   | 12.6 | % |
| Selling, general and administrative |   |                                  | 62.7    |   |   |   | 53.8   |                       |   |   | 8.9    |   |   |   | 16.5 |   |   |   | 180.6 |   |   |   | 166.5 |   |   |   | 14.1 |   |   |   | 8.5 |   |
| Depreciation and amortization       |   |                                  | 5.2     |   |   |   | 7.6    |                       |   |   | (2.4   | )      |   |   | (31.1 | ) |   |   | 16.4 |   |   |   | 25.4 |   |   |   | (9.0 | ) |   |   | (35.4 | ) |
| Research and development            |   |                                  | 3.2     |   |   |   | 2.3    |                       |   |   | 0.9    |   |   |   | 40.7 |   |   |   | 7.7 |   |   |   | 5.8 |   |   |   | 1.9 |   |   |   | 34.3 |   |
| Severance and other charges         |   |                                  | — |   |   |   | 2.9    |                       |   |   | (2.9   | )      |   |   | (100.0 | ) |   |   | 1.1 |   |   |   | 4.4 |   |   |   | (3.3 | ) |   |   | (76.3 | ) |
|                                |   |                                  |    |   |   |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total costs and expenses     |   | $                                     | 390.7   |   |   | $      | 347.8  |                       |   | $      | 42.9   |   |   |   | 12.3 | % |   | $ | 1,137.9 |   |   | $ | 1,030.0 |   |   | $ | 107.9 |   |   |   | 10.5 | % |

| ●   | In April 2011, options to purchase 0.1 million shares of our Class B common stock that were granted in April 2001 with an expiration date in April 2011 were extended for one year. We recorded stock-based compensation expense of $0.3 million in April 2011 for the modification of the options; |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | On March 15, 2011, our subsidiary Innovative Communications Technologies, Inc., or ICTI, filed a Form 10 registration statement with the SEC related to the spin-off of ICTI to our stockholders. Also on March 15, 2011, ICTI granted shares of its common stock to two of our employees representing 5.5% of ICTI's outstanding equity. These ICTI shares vested immediately. In April 2011, we recorded stock-based compensation expense of $0.7 million for the grant of these ICTI shares; |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | In December 2010 and January 2011, an aggregate of 0.3 million restricted shares of our Class B common stock was granted to certain of our directors, officers and employees. Total unrecognized compensation cost on the grant date was $9.4 million. The unrecognized compensation cost of $7.7 million at April 30, 2011 is expected to be recognized over the remaining vesting period that ends in December 2013. We recognized compensation cost related to the vesting of these shares of $0.5 million and $1.7 million in the three and nine months ended April 30, 2011, respectively; and |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ●   | In November 2010, our subsidiary, Genie Oil and Gas, Inc., or GOGI, issued warrants to purchase up to an aggregate of 1% of the outstanding common stock of GOGI in connection with the purchase of equity interests in GOGI by Lord (Jacob) Rothschild. The GOGI warrants are recorded at fair value which is estimated using a Black-Scholes valuation model. We recorded stock-based compensation expense related to the GOGI warrants of $0.4 million in the nine months ended April 30, 2011. As a result of the decline in the expected life of the warrants and a reduction in the discount rate, the estimated fair value of the GOGI warrants declined from $0.5 million at January 31, 2011 to $0.4 million at April 30, 2011, therefore we recorded a reversal of stock-based compensation expense of $0.1 million in the three months ended April 30, 2011. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                           |   | Three months endedApril 30, |   |   | Nine months endedApril 30, |   |
|------------------------------------------------|--------|---------------------------------------|--------|--------|----------------------------|--------|
|                                           |   | 2011                                  |   |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                           |   | (in millions)                         |   |
|   Genie Oil and Gas Segment:              |   |                                  |   |   |                       |   |   |   |   |   |   |   |
| Israel Energy Initiatives, Ltd.                |   | $                                     | 2.2    |   |                       | $      | 1.7 |   |   | $ | 5.7 |   |   | $ | 3.7 |   |
|   All Other:                              |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Fabrix T.V., Ltd.                              |   |                                  | 1.0    |   |                       |   | 0.6 |   |   |   | 2.0 |   |   |   | 2.1 |   |
|                                           |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|   Total research and development expenses |   | $                                     | 3.2    |   |                       | $      | 2.3 |   |   | $ | 7.7 |   |   | $ | 5.8 |   |
|                                           |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                    |   | Three months endedApril 30, |    |   | Nine months endedApril 30, |   |
|-------------------------------------------------------------------------|--------|-----------------------------|---------|--------|----------------------------|--------|
|                                                                    |   | 2011                        |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                                    |   | (in millions)               |    |
|   Telecom Platform Services-gain on termination of agreement       |   | $                           | — |   |                       | $      | — |   |   | $ | 14.4 |   |   | $ | — |   |
|   Telecom Platform Services- loss from alleged patent infringement |   |                        | — |   |                       |   | — |   |   |   | (9.8 | ) |   |   | — |   |
|   Telecom Platform Services- gain on settlement of litigation      |   |                        | — |   |                       |   | 10.0 |   |   |   | — |   |   |   | 10.0 |   |
| Corporate-other                                                         |   |                        | — |   |                       |   | — |   |   |   | (0.5 | ) |   |   | — |   |
| All Other-gain on insurance claim                                       |   |                        | — |   |                       |   | — |   |   |   | 2.6 |   |   |   | — |   |
|   All Other-gain on settlement of IDT Global Israel claims         |   |                        | — |   |                       |   | 0.5 |   |   |   | — |   |   |   | 0.5 |   |
|   All Other-(loss) gain from the settlement of other claims        |   |                        | — |   |                       |   | (1.5 | ) |   |   | 0.7 |   |   |   | (1.5 | ) |
|                                                                    |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                   |   | $                           | — |   |                       | $      | 9.0 |   |   | $ | 7.4 |   |   | $ | 9.0 |   |
|                                                                    |   |                        |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                     |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|----------------------------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|--------------------------------------|--------|--------|---------|--------|
|                                                     |   | 2011                                  |    |   | 2010   |   |    | $                                    |   |   |    | %      |   |   |   | 2011 |   |   |   | 2010 |   |   | $ |   |   |   | % |   |
|                                                     |   | (in millions)                         |    |
|   Income from operations                            |   | $                                     | 6.2     |   |   | $      | 16.6    |                                 |   | $      | (10.4   | )      |   |   | (62.4 | )% |   | $ | 25.4 |   |   | $ | 24.4 |   |   | $ | 1.0 |   |   |   | 4.0 | % |
| Interest expense, net                                    |   |                                  | (1.4    | )      |   |   | (1.6    | )                                    |   |   | 0.2     |   |   |   | 10.5 |   |   |   | (4.6 | ) |   |   | (4.8 | ) |   |   | 0.2 |   |   |   | 4.8 |   |
| Other (expense) income, net                              |   |                                  | (1.6    | )      |   |   | 1.0     |                                 |   |   | (2.6    | )      |   |   | (260.6 | ) |   |   | 1.4 |   |   |   | (0.1 | ) |   |   | 1.5 |   |   | nm |   |
| Benefit from (provision for) income taxes                |   |                                  | 2.6     |   |   |   | (3.5    | )                                    |   |   | 6.1     |   |   |   | 173.8 |   |   |   | 2.7 |   |   |   | (6.3 | ) |   |   | 9.0 |   |   |   | 143.3 |   |
|                                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income from continuing operations                 |   |                                  | 5.8     |   |   |   | 12.5    |                                 |   |   | (6.7    | )      |   |   | (53.5 | ) |   |   | 24.9 |   |   |   | 13.2 |   |   |   | 11.7 |   |   |   | 88.9 |   |
|   Discontinued operations, net of tax               |   |                                  | — |   |   |   | — |                                 |   |   | — |   |   |   | 100.0 |   |   |   | — |   |   |   | (0.4 | ) |   |   | 0.4 |   |   |   | 100.0 |   |
|                                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Net income                                        |   |                                  | 5.8     |   |   |   | 12.5    |                                 |   |   | (6.7    | )      |   |   | (53.4 | ) |   |   | 24.9 |   |   |   | 12.8 |   |   |   | 12.1 |   |   |   | 94.9 |   |
|   Net loss attributable to noncontrolling interests |   |                                  | 1.2     |   |   |   | 0.1     |                                 |   |   | 1.1     |   |   |   | 916.4 |   |   |   | 1.7 |   |   |   | — |   |   |   | 1.7 |   |   | nm |   |
|                                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Net income attributable to IDT Corporation        |   | $                                     | 7.0     |   |   | $      | 12.6    |                                 |   | $      | (5.6    | )      |   |   | (44.5 | )% |   | $ | 26.6 |   |   | $ | 12.8 |   |   | $ | 13.8 |   |   |   | 107.1 | % |
|                                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                   |   | Three months endedApril 30, |    |   | Nine months endedApril 30, |   |
|------------------------------------------------------------------------|--------|---------------------------------------|---------|--------|----------------------------|--------|
|                                                                   |   | 2011                                  |    |   | 2010                       |   |   | 2011 |   |   | 2010 |   |
|                                                                   |   | (in millions)                         |    |
|   Equity in net loss of AMSO, LLC                                 |   | $                                     | (1.2    | )      |                       | $      | (0.4 | ) |   | $ | (2.9 | ) |   | $ | (1.1 | ) |
|   Gain on settlement of auction rate securities arbitration claim |   |                                  | — |   |                       |   | — |   |   |   | 5.4 |   |   |   | — |   |
|   Foreign currency transaction (losses) gains                     |   |                                  | (0.9    | )      |                       |   | 0.7 |   |   |   | (0.5 | ) |   |   | 1.4 |   |
|   Gain (loss) on investments                                      |   |                                  | 0.4     |   |                       |   | 0.3 |   |   |   | (0.3 | ) |   |   | (1.3 | ) |
|   Other                                                           |   |                                  | 0.1     |   |                       |   | 0.4 |   |   |   | (0.3 | ) |   |   | 0.9 |   |
|                                                                   |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total other (expense) income, net                                      |   | $                                     | (1.6    | )      |                       | $      | 1.0 |   |   | $ | 1.4 |   |   | $ | (0.1 | ) |
|                                                                   |   |                                  |    |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

|                              |   | Three months endedApril 30,    |   |   | Change |   |   | Nine months endedApril 30, |   |   | Change  |   |
|-----------------------------------|--------|------------------------------------------|--------|--------|--------|--------|--------|----------------------------|--------|--------|---------|--------|
|                              |   | 2011                                     |   |   | 2010   |   |   | $                          |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                              |   | (in millions, except revenue per minute) |   |
|   Revenues                   |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services         |   | $                                        | 334.5  |   |   | $      | 291.4  |                       |   | $      | 43.1    |   |   |   | 14.8 | % |   | $ | 971.4 |   |   | $ | 857.0 |   |   | $ | 114.4 |   |   |   | 13.4 | % |
| Consumer Phone Services           |   |                                     | 6.2    |   |   |   | 8.6    |                       |   |   | (2.4    | )      |   |   | (27.3 | ) |   |   | 20.6 |   |   |   | 28.9 |   |   |   | (8.3 | ) |   |   | (28.6 | ) |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total revenues                    |   | $                                        | 340.7  |   |   | $      | 300.0  |                       |   | $      | 40.7    |   |   |   | 13.6 | % |   | $ | 992.0 |   |   | $ | 885.9 |   |   | $ | 106.1 |   |   |   | 12.0 | % |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Minutes of use             |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepaid services                  |   |                                     | 3,192  |   |   |   | 2,686  |                       |   |   | 506     |   |   |   | 18.8 | % |   |   | 9,225 |   |   |   | 7,425 |   |   |   | 1,800 |   |   |   | 24.2 | % |
| Wholesale carrier                 |   |                                     | 3,423  |   |   |   | 2,638  |                       |   |   | 785     |   |   |   | 29.8 |   |   |   | 10,028 |   |   |   | 7,657 |   |   |   | 2,371 |   |   |   | 31.0 |   |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total minutes of use              |   |                                     | 6,615  |   |   |   | 5,324  |                       |   |   | 1,291   |   |   |   | 24.2 | % |   |   | 19,253 |   |   |   | 15,082 |   |   |   | 4,171 |   |   |   | 27.7 | % |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Average revenue per minute |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepaid services                  |   | $                                        | 0.0602 |   |   | $      | 0.0653 |                       |   | $      | (0.0051 | )      |   |   | (7.9 | )% |   | $ | 0.0603 |   |   | $ | 0.0685 |   |   | $ | (0.0082 | ) |   |   | (12.0 | )% |
| Wholesale carrier                 |   |                                     | 0.0416 |   |   |   | 0.0439 |                       |   |   | (0.0023 | )      |   |   | (5.2 | ) |   |   | 0.0414 |   |   |   | 0.0455 |   |   |   | (0.0041 | ) |   |   | (9.0 | ) |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total average revenue per minute  |   | $                                        | 0.0506 |   |   | $      | 0.0547 |                       |   | $      | (0.0041 | )      |   |   | (7.6 | )% |   | $ | 0.0505 |   |   | $ | 0.0568 |   |   | $ | (0.0063 | ) |   |   | (11.2 | )% |
|                              |   |                                     |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                       |   | Three months endedApril 30, |   |   | Change |   |   | Nine months endedApril 30, |   |   | Change  |   |
|--------------------------------------------|--------|---------------------------------------|--------|--------|--------|--------|--------|----------------------------|--------|--------|---------|--------|
|                                       |   | 2011                                  |   |   | 2010   |   |   | $                          |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                       |   | (in millions, except cost per minute) |   |
|   Direct cost of revenues             |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services                  |   | $                                     | 279.2  |   |   | $      | 238.7  |                       |   | $      | 40.5    |   |   |   | 17.0 | % |   | $ | 807.1 |   |   | $ | 705.8 |   |   | $ | 101.3 |   |   |   | 14.3 | % |
| Consumer Phone Services                    |   |                                  | 3.0    |   |   |   | 4.1    |                       |   |   | (1.1    | )      |   |   | (26.5 | ) |   |   | 9.5 |   |   |   | 13.0 |   |   |   | (3.5 | ) |   |   | (26.8 | ) |
|                                       |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total direct cost of revenues              |   | $                                     | 282.2  |   |   | $      | 242.8  |                       |   | $      | 39.4    |   |   |   | 16.2 | % |   | $ | 816.6 |   |   | $ | 718.8 |   |   | $ | 97.8 |   |   |   | 13.6 | % |
|                                       |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Average termination cost per minute |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepaid services                           |   | $                                     | 0.0474 |   |   | $      | 0.0500 |                       |   | $      | (0.0026 | )      |   |   | (5.3 | )% |   | $ | 0.0474 |   |   | $ | 0.0529 |   |   | $ | (0.0055 | ) |   |   | (10.5 | )% |
| Wholesale carrier                          |   |                                  | 0.0374 |   |   |   | 0.0396 |                       |   |   | (0.0022 | )      |   |   | (5.5 | ) |   |   | 0.0369 |   |   |   | 0.0409 |   |   |   | (0.0040 | ) |   |   | (9.7 | ) |
|                                       |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total average termination cost per minute  |   | $                                     | 0.0422 |   |   | $      | 0.0448 |                       |   | $      | (0.0026 | )      |   |   | (5.9 | )% |   | $ | 0.0419 |   |   | $ | 0.0468 |   |   | $ | (0.0049 | ) |   |   | (10.4 | )% |
|                                       |   |                                  |   |   |   |   |   |                       |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                 |   | Three months endedApril 30, |   |   |   |   |   | Nine months endedApril 30, |   |   |   |   |
|--------------------------------------|--------|---------------------------------------|--------|--------|--------|--------|--------|--------------------------------------|--------|--------|--------|--------|
|                                 |   | 2011                                  |   |   | 2010   |   |   | Change                               |   |   | 2011   |   |   | 2010 |   |   | Change |   |
|   Gross margin percentage       |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services            |   |                                  | 16.5   | %      |   |   | 18.1   | %                                    |   |   | (1.6   | )%     |   |   | 16.9 | % |   |   | 17.6 | % |   |   | (0.7 | )% |
| Consumer Phone Services              |   |                                  | 52.5   |   |   |   | 53.0   |                                 |   |   | (0.5   | )      |   |   | 53.9 |   |   |   | 55.1 |   |   |   | (1.2 | ) |
|                                 |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total gross margin percentage |   |                                  | 17.2   | %      |   |   | 19.1   | %                                    |   |   | (1.9   | )%     |   |   | 17.7 | % |   |   | 18.8 | % |   |   | (1.1 | )% |
|                                 |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                      |   | Three months endedApril 30, |   |   | Change |   |   | Nine months endedApril 30, |   |   | Change |   |
|-----------------------------------------------------------|--------|---------------------------------------|--------|--------|--------|--------|--------|--------------------------------------|--------|--------|--------|--------|
|                                                      |   | 2011                                  |   |   | 2010   |   |   | $                                    |   |   | %      |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                                      |   | (in millions)                         |   |
|   Selling, general and administrative expenses       |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services                                 |   | $                                     | 46.1   |   |   | $      | 42.5   |                                 |   | $      | 3.6    |   |   |   | 8.5 | % |   | $ | 134.4 |   |   | $ | 127.6 |   |   | $ | 6.8 |   |   |   | 5.4 | % |
| Consumer Phone Services                                   |   |                                  | 1.7    |   |   |   | 2.1    |                                 |   |   | (0.4   | )      |   |   | (16.7 | ) |   |   | 5.5 |   |   |   | 6.4 |   |   |   | (0.9 | ) |   |   | (13.8 | ) |
|                                                      |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total selling, general and administrative expenses |   | $                                     | 47.8   |   |   | $      | 44.6   |                                 |   | $      | 3.2    |   |   |   | 7.3 | % |   | $ | 139.9 |   |   | $ | 134.0 |   |   | $ | 5.9 |   |   |   | 4.5 | % |
|                                                      |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                       |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|--------------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|--------------------------------------|--------|--------|---------|--------|
|                                       |   | 2011                                  |    |   | 2010   |   |    | $                                    |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                       |   | (in millions)                         |    |
|   Depreciation and amortization       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services                  |   | $                                     | 4.3     |   |   | $      | 6.6     |                                 |   | $      | (2.3    | )      |   |   | (34.2 | )% |   | $ | 13.8 |   |   | $ | 22.2 |   |   | $ | (8.4 | ) |   |   | (38.0 | )% |
| Consumer Phone Services                    |   |                                  | — |   |   |   | — |                                 |   |   | — |   |   |   | (49.3 | ) |   |   | — |   |   |   | 0.1 |   |   |   | (0.1 | ) |   |   | (42.1 | ) |
|                                       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total depreciation and amortization |   | $                                     | 4.3     |   |   | $      | 6.6     |                                 |   | $      | (2.3    | )      |   |   | (34.3 | )% |   | $ | 13.8 |   |   | $ | 22.3 |   |   | $ | (8.5 | ) |   |   | (38.0 | )% |
|                                       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                     |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|------------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|--------------------------------------|--------|--------|---------|--------|
|                                     |   | 2011                                  |    |   | 2010   |   |    | $                                    |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                     |   | (in millions)                         |    |
|   Severance and other charges       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services                |   | $                                     | — |   |   | $      | 0.8     |                                 |   | $      | (0.8    | )      |   |   | (100.0 | )% |   | $ | 0.9 |   |   | $ | 1.4 |   |   | $ | (0.5 | ) |   |   | (34.0 | )% |
| Consumer Phone Services                  |   |                                  | — |   |   |   | — |                                 |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
|                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total severance and other charges |   | $                                     | — |   |   | $      | 0.8     |                                 |   | $      | (0.8    | )      |   |   | (100.0 | )% |   | $ | 0.9 |   |   | $ | 1.4 |   |   | $ | (0.5 | ) |   |   | (34.0 | )% |
|                                     |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                 |   | Three months endedApril 30, |   |   | Change |   |   | Nine months endedApril 30, |   |   | Change |   |
|--------------------------------------|--------|---------------------------------------|--------|--------|--------|--------|--------|--------------------------------------|--------|--------|--------|--------|
|                                 |   | 2011                                  |   |   | 2010   |   |   | $                                    |   |   | %      |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                 |   | (in millions)                         |   |
|   Income (loss) from operations |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Telecom Platform Services            |   | $                                     | 4.9    |   |   | $      | 12.8   |                                 |   | $      | (7.9   | )      |   |   | (61.7 | )% |   | $ | 19.8 |   |   | $ | 9.9 |   |   | $ | 9.9 |   |   |   | 99.9 | % |
| Consumer Phone Services              |   |                                  | 1.5    |   |   |   | 2.4    |                                 |   |   | (0.9   | )      |   |   | (37.6 | ) |   |   | 5.5 |   |   |   | 9.4 |   |   |   | (3.9 | ) |   |   | (41.2 | ) |
|                                 |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total income from operations  |   | $                                     | 6.4    |   |   | $      | 15.2   |                                 |   | $      | (8.8   | )      |   |   | (57.9 | )% |   | $ | 25.3 |   |   | $ | 19.3 |   |   | $ | 6.0 |   |   |   | 30.9 | % |
|                                 |   |                                  |   |   |   |   |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|-------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|---------------------------------|--------|--------|---------|--------|
|                                |   | 2011                                  |    |   | 2010   |   |    | $                               |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                |   | (in millions)                         |    |
|   Revenues                     |   | $                                     | 53.8    |   |   | $      | 53.8    |                            |   | $      | — |   |   |   | (0.1 | )% |   | $ | 157.1 |   |   | $ | 154.9 |   |   | $ | 2.2 |   |   |   | 1.5 | % |
| Direct cost of revenues             |   |                                  | 37.0    |   |   |   | 38.1    |                            |   |   | (1.1    | )      |   |   | (3.0 | ) |   |   | 114.3 |   |   |   | 108.2 |   |   |   | 6.1 |   |   |   | 5.6 |   |
| Selling, general and administrative |   |                                  | 8.2     |   |   |   | 5.7     |                            |   |   | 2.5     |   |   |   | 42.4 |   |   |   | 20.0 |   |   |   | 14.3 |   |   |   | 5.7 |   |   |   | 39.6 |   |
| Depreciation                        |   |                                  | — |   |   |   | 0.1     |                            |   |   | (0.1    | )      |   |   | (79.3 | ) |   |   | — |   |   |   | 0.1 |   |   |   | (0.1 | ) |   |   | (76.7 | ) |
| Severance and other charges         |   |                                  | — |   |   |   | — |                            |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 0.1 |   |   |   | (0.1 | ) |   |   | (100.0 | ) |
|                                |   |                                  |    |   |   |   |    |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Income from operations       |   | $                                     | 8.6     |   |   | $      | 9.9     |                            |   | $      | (1.3    | )      |   |   | (13.4 | )% |   | $ | 22.8 |   |   | $ | 32.2 |   |   | $ | (9.4 | ) |   |   | (29.2 | )% |
|                                |   |                                  |    |   |   |   |    |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                  |   | April 30,2011  |   |   | January 31, 2011 |   |   | October 31, 2010 |   |   | July 31,2010 |   |   | April 30, 2010 |   |   | January 31, 2010 |   |   | October 31, 2009 |   |   | July 31,2009 |   |
|---------------------------------------|--------|----------------|--------|--------|------------------|--------|--------|------------------|--------|--------|--------------|--------|--------|----------------|--------|--------|------------------|--------|--------|------------------|--------|--------|--------------|--------|
|                                  |   | (in thousands) |   |
|   RCEs at end of fiscal quarter: |   |           |   |   |             |   |   |             |   |   |         |   |   |           |   |   |             |   |   |             |   |   |         |   |
| Electricity customers                 |   |           | 119    |   |             |   | 124    |             |   |   | 122          |   |   |           | 117    |   |             |   | 103    |             |   |   | 98           |   |   |   | 95 |   |   |   | 92 |   |
| Natural gas customers                 |   |           | 94     |   |             |   | 91     |             |   |   | 87           |   |   |           | 88     |   |             |   | 88     |             |   |   | 87           |   |   |   | 86 |   |   |   | 89 |   |
|                                  |   |           |   |   |             |   |   |             |   |   |         |   |   |           |   |   |             |   |   |             |   |   |         |   |   |   |   |   |   |   |   |   |
|   Total RCEs                     |   |           | 213    |   |             |   | 215    |             |   |   | 209          |   |   |           | 205    |   |             |   | 191    |             |   |   | 185          |   |   |   | 181 |   |   |   | 181 |   |
|                                  |   |           |   |   |             |   |   |             |   |   |         |   |   |           |   |   |             |   |   |             |   |   |         |   |   |   |   |   |   |   |   |   |

----

|                        |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|-----------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|---------------------------------|--------|--------|---------|--------|
|                        |   | 2011                                  |    |   | 2010   |   |    | $                               |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                        |   | (in millions)                         |    |
|   Revenues             |   | $                                     | — |   |   | $      | — |                            |   | $      | — |   |   |   | — | % |   | $ | — |   |   | $ | — |   |   | $ | — |   |   |   | — | % |
| Direct cost of revenues     |   |                                  | — |   |   |   | — |                            |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| General and administrative  |   |                                  | 0.5     |   |   |   | 0.3     |                            |   |   | 0.2     |   |   |   | 36.1 |   |   |   | 2.2 |   |   |   | 0.9 |   |   |   | 1.3 |   |   |   | 129.6 |   |
| Research and development    |   |                                  | 2.2     |   |   |   | 1.7     |                            |   |   | 0.5     |   |   |   | 35.2 |   |   |   | 5.7 |   |   |   | 3.7 |   |   |   | 2.0 |   |   |   | 57.8 |   |
|                        |   |                                  |    |   |   |   |    |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Loss from operations |   | $                                     | (2.7    | )      |   | $      | (2.0    | )                               |   | $      | (0.7    | )      |   |   | (35.3 | )% |   | $ | (7.9 | ) |   | $ | (4.6 | ) |   | $ | (3.3 | ) |   |   | (72.4 | )% |
|                        |   |                                  |    |   |   |   |    |                            |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                       |   | Three months endedApril 30, |    |   | Change |   |    | Nine months endedApril 30, |   |   | Change  |   |
|--------------------------------------------|--------|---------------------------------------|---------|--------|--------|--------|---------|--------------------------------------|--------|--------|---------|--------|
|                                       |   | 2011                                  |    |   | 2010   |   |    | $                                    |   |   | %       |   |   | 2011 |   |   | 2010 |   |   | $ |   |   | % |   |
|                                       |   | (in millions)                         |    |
|   General and administrative expenses |   | $                                     | 4.3     |   |   | $      | 1.4     |                                 |   | $      | 2.9     |   |   |   | 207.2 | % |   | $ | 12.2 |   |   | $ | 9.7 |   |   | $ | 2.5 |   |   |   | 24.5 | % |
|   Depreciation and amortization       |   |                                  | 0.1     |   |   |   | 0.3     |                                 |   |   | (0.2    | )      |   |   | (45.2 | ) |   |   | 0.5 |   |   |   | 0.8 |   |   |   | (0.3 | ) |   |   | (40.8 | ) |
|   Severance and other charges         |   |                                  | — |   |   |   | 2.0     |                                 |   |   | (2.0    | )      |   |   | (100.0 | ) |   |   | 0.1 |   |   |   | 3.1 |   |   |   | (3.0 | ) |   |   | (95.8 | ) |
|   Other operating loss                |   |                                  | — |   |   |   | — |                                 |   |   | — |   |   |   | — |   |   |   | 0.5 |   |   |   | — |   |   |   | 0.5 |   |   | nm |   |
|                                       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Loss from operations                |   | $                                     | 4.4     |   |   | $      | 3.7     |                                 |   | $      | 0.7     |   |   |   | 18.8 | % |   | $ | 13.3 |   |   | $ | 13.6 |   |   | $ | (0.3 | ) |   |   | (2.8 | )% |
|                                       |   |                                  |    |   |   |   |    |                                 |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|                                                                    |   | Nine months endedApril 30. |    |
|-------------------------------------------------------------------------|--------|----------------------------|---------|
|                                                                    |   | 2011                       |    |   | 2010 |   |
|                                                                    |   | (in millions)              |    |
|   Cash flows provided by (used in):                                |   |                       |    |   |   |   |
|   Operating activities                                             |   | $                          | 50.5    |   |   | $ | 47.5 |   |
|   Investing activities                                             |   |                       | (0.6    | ) |   |   | 56.3 |   |
|   Financing activities                                             |   |                       | (4.1    | ) |   |   | (12.4 | ) |
|   Effect of exchange rate changes on cash and cash equivalents     |   |                       | 1.7     |   |   |   | (0.7 | ) |
|                                                                    |   |                       |    |   |   |   |   |   |
|   Increase in cash and cash equivalents from continuing operations |   |                       | 47.5    |   |   |   | 90.7 |   |
|   Net cash provided by discontinued operations                     |   |                       | — |   |   |   | 0.4 |   |
|                                                                    |   |                       |    |   |   |   |   |   |
|   Increase in cash and cash equivalents                            |   | $                          | 47.5    |   |   | $ | 91.1 |   |
|                                                                    |   |                       |    |   |   |   |   |   |

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| ●   | In November 2010, an entity affiliated with Lord (Jacob) Rothschild purchased a 5.0% equity interest in Genie Oil and Gas, Inc. for $10.0 million paid in cash. Also, in November 2010, Rupert Murdoch purchased a 0.5% equity interest in Genie Oil and Gas, Inc. for $1.0 million paid with a promissory note. The note is secured by a pledge of the shares issued in exchange for the note. The note accrues interest at 1.58%, and the principal and accrued interest is due and payable on November 15, 2015. In addition, in connection with the purchase by Lord Rothschild, in November 2010, warrants were issued to purchase up to an aggregate of 1% of the common stock outstanding of Genie Oil and Gas, Inc. at an exercise price of up to $2 million that are exercisable through November 12, 2011. Genie Oil and Gas, Inc. consists of our interests in AMSO, IEI and T.C.T. Thermal Cleaning Technologies, Ltd. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●   | On March 29, 2010, Shaman II, L.P. purchased additional shares in Zedge Holdings, Inc., or Zedge, for cash of $0.3 million, which increased Shaman II, L.P.’s ownership interest in Zedge from 10% to approximately 11%. One of the limited partners in Shaman II, L.P. is a former employee of ours. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | In April 2010, Genie Energy International Corporation sold shares of its common stock and an option to purchase additional shares of its common stock for an aggregate of $5.4 million. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

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|                                  |   | TotalNumber ofSharesPurchased |    |   | AveragePriceper Share |   |    | Total Numberof SharesPurchased aspart ofPubliclyAnnouncedPlans orPrograms |   |   | MaximumNumber ofShares thatMay Yet BePurchasedUnder thePlans orPrograms (1) |   |
|---------------------------------------|--------|------------------------------------|---------|--------|----------------------------|--------|---------|--------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------|--------|
|   February 1–28, 2011 |   |                               | — |   |                       | $      | — |                                                                           |   |   | —                                                                          |   |   |   | 5,411,783 |   |
|   March 1–31, 2011    |   |                               | — |   |                       | $      | — |                                                                           |   |   | —                                                                          |   |   |   | 5,411,783 |   |
|   April1–30, 2011          |   |                               | — |   |                       | $      | — |                                                                           |   |   | —                                                                          |   |   |   | 5,411,783 |   |
|                                  |   |                               |    |   |                       |   |    |                                                                           |   |   |                                                                             |   |   |   |   |   |
|   Total                          |   |                               | — |   |                       | $      | — |                                                                           |   |   | —                                                                          |   |   |   |   |   |
|                                  |   |                               |    |   |                       |   |    |                                                                           |   |   |                                                                             |   |   |   |   |   |

| (1)   | Under our existing stock repurchase program, approved by our Board of Directors on June 13, 2006, we were authorized to repurchase up to an aggregate of 8.3 million shares of our Class B common stock and, until April 2011, our common stock, without regard to class. On December 17, 2008, our Board of Directors (i) approved a one-for-three reverse stock split of all classes of our common stock which was effective on February 24, 2009, and (ii) amended the stock repurchase program to increase the aggregate number of shares of our Class B common stock and common stock, without regard to class, that we are authorized to repurchase from the 3.3 million shares that remained available for repurchase to 8.3 million shares. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ExhibitNumber | Description                                                                                                                                      |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                             |
| 31.1*         | Certification of Chief Executive Officer pursuant to 17 CFR 240.13a-14(a), as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.   |
|          |                                                                                                                                             |
| 31.2*         | Certification of Chief Financial Officer pursuant to 17 CFR 240.13a-14(a), as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.   |
|          |                                                                                                                                             |
| 32.1*         | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002. |
|          |                                                                                                                                             |
| 32.2*         | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002. |

| * | Filed herewith. |
|---|-----------------|

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|          |   |            |                                                                                       |
|---------------|--------|-----------------|--------------------------------------------------------------------------------------------|
|          |   | IDT CORPORATION |
|          |   |            |                                                                                       |
| June 14, 2011 |   | By:             | /s/    HOWARD S. JONAS         |
|          |   |            | Howard S. JonasChairman of the Board and Chief Executive Officer                           |
|          |   |            |                                                                                       |
| June 14, 2011 |   | By:             | /s/    BILL PEREIRA            |
|          |   |            | Bill PereiraChief Financial Officer                                                        |