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Idt Corp – ‘10-K/A’ for 7/31/12

On:  Friday, 11/9/12, at 9:19am ET   ·   For:  7/31/12   ·   Accession #:  1193125-12-461999   ·   File #:  1-16371

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/09/12  Idt Corp                          10-K/A      7/31/12   93:9.7M                                   Donnelley … Solutions/FA

Amendment to Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K/A      Amendment No.1 to Form 10-K                         HTML     70K 
62: R1          Document and Entity Information                     HTML     60K 
48: R2          Consolidated Balance Sheets                         HTML    205K 
59: R3          Consolidated Balance Sheets (Parenthetical)         HTML     58K 
65: R4          Consolidated Statements of Income                   HTML    176K 
84: R5          Consolidated Statements of Comprehensive Income     HTML     64K 
50: R6          Consolidated Statements of Equity                   HTML    106K 
58: R7          Consolidated Statements of Equity (Parenthetical)   HTML     31K 
42: R8          Consolidated Statements of Cash Flows               HTML    234K 
32: R9          Description of Business and Summary of Significant  HTML    107K 
                Accounting Policies                                              
85: R10         Discontinued Operations                             HTML     72K 
67: R11         Fair Value Measurements                             HTML     49K 
66: R12         Property, Plant and Equipment                       HTML     44K 
72: R13         Goodwill and Other Intangibles                      HTML     63K 
73: R14         Other Operating (Losses) Gains, Net                 HTML     56K 
70: R15         Notes Payable                                       HTML     50K 
74: R16         Other (Expense) Income, Net                         HTML     41K 
60: R17         Income Taxes                                        HTML    112K 
63: R18         Equity                                              HTML     45K 
69: R19         Stock-Based Compensation                            HTML     68K 
93: R20         Accumulated Other Comprehensive Income (Loss)       HTML     43K 
80: R21         Legal Proceedings                                   HTML     55K 
54: R22         Commitments and Contingencies                       HTML     55K 
68: R23         Related Party Transactions                          HTML     49K 
56: R24         Defined Contribution Plans                          HTML     30K 
23: R25         Business Segment Information                        HTML     73K 
81: R26         Selected Quarterly Financial Data (Unaudited)       HTML     81K 
89: R27         Description of Business and Summary of Significant  HTML    190K 
                Accounting Policies (Policies)                                   
37: R28         Description of Business and Summary of Significant  HTML     58K 
                Accounting Policies (Tables)                                     
36: R29         Discontinued Operations (Tables)                    HTML     59K 
40: R30         Fair Value Measurements (Tables)                    HTML     35K 
41: R31         Property, Plant and Equipment (Tables)              HTML     37K 
43: R32         Goodwill and Other Intangibles (Tables)             HTML     60K 
15: R33         Other Operating (Losses) Gains, Net (Tables)        HTML     56K 
78: R34         Notes Payable (Tables)                              HTML     47K 
52: R35         Other (Expense) Income, Net (Tables)                HTML     39K 
55: R36         Income Taxes (Tables)                               HTML    114K 
27: R37         Stock-Based Compensation (Tables)                   HTML     55K 
92: R38         Accumulated Other Comprehensive Income (Loss)       HTML     43K 
                (Tables)                                                         
 8: R39         Commitments and Contingencies (Tables)              HTML     47K 
45: R40         Business Segment Information (Tables)               HTML     61K 
83: R41         Selected Quarterly Financial Data (Unaudited)       HTML     78K 
                (Tables)                                                         
25: R42         Description of Business and Summary of Significant  HTML     80K 
                Accounting Policies - Additional Information                     
                (Detail)                                                         
35: R43         Description of Business and Summary of Significant  HTML     44K 
                Accounting Policies - Summary of Weighted-Average                
                Number of Shares used in Calculation of Basic and                
                Diluted Earnings Per Share (Detail)                              
39: R44         Description of Business and Summary of Significant  HTML     35K 
                Accounting Policies - Summary of Outstanding Stock               
                Options Excluded from Calculation of Diluted                     
                Earnings Per Share (Detail)                                      
49: R45         Description of Business and Summary of Significant  HTML     39K 
                Accounting Policies - Summary of Change in                       
                Allowance for Doubtful Accounts (Detail)                         
14: R46         Discontinued Operations - Additional Information    HTML     53K 
                (Detail)                                                         
31: R47         Discontinued Operations - Summary Financial Data    HTML     45K 
                of Discontinued Operations (Detail)                              
10: R48         Discontinued Operations - Schedule of Assets and    HTML     83K 
                Liabilities of Discontinued Operations (Detail)                  
82: R49         Fair Value Measurements - Additional Information    HTML     35K 
                (Detail)                                                         
24: R50         Fair Value Measurements - Summary of Change in      HTML     46K 
                Company's Assets Measured at Fair Value on                       
                Recurring Basis (Detail)                                         
79: R51         Property, Plant and Equipment - Schedule of         HTML     52K 
                Property, Plant and Equipment (Detail)                           
28: R52         Property, Plant and Equipment - Additional          HTML     58K 
                Information (Detail)                                             
46: R53         Goodwill and Other Intangibles - Schedule of        HTML     39K 
                Change in Carrying Amount of Goodwill by Operating               
                Segment (Detail)                                                 
 9: R54         Goodwill and Other Intangibles - Schedule of Other  HTML     45K 
                Intangible Assets (Detail)                                       
12: R55         Goodwill and Other Intangibles - Additional         HTML     43K 
                Information (Detail)                                             
38: R56         Other Operating (Losses) Gains, Net - Summary of    HTML    124K 
                Other Operating (Losses) Gains, Net by Business                  
                Segment (Detail)                                                 
18: R57         Notes Payable - Schedule of Notes Payable (Detail)  HTML    122K 
86: R58         Notes Payable - Schedule of Notes Payable           HTML     34K 
                (Parenthetical) (Detail)                                         
51: R59         Notes Payable - Schedule of Estimated Future        HTML     50K 
                Principal Payments of Notes Payable (Detail)                     
71: R60         Other (Expense) Income, Net - Schedule of Other     HTML     49K 
                Income Expense Net (Detail)                                      
30: R61         Other (Expense) Income, Net - Additional            HTML     43K 
                Information (Detail)                                             
33: R62         Income Taxes - Schedule of Income (Loss) from       HTML     36K 
                Continuing Operations Before Income Taxes (Detail)               
77: R63         Income Taxes - Schedule of Deferred Income Tax      HTML     63K 
                Assets and Deferred Income Tax Liabilities                       
                (Detail)                                                         
75: R64         Income Taxes - Schedule of Benefit from Income      HTML     74K 
                Taxes (Detail)                                                   
53: R65         Income Taxes - Additional Information (Detail)      HTML     63K 
76: R66         Income Taxes - Schedule of Statutory Income Tax     HTML     56K 
                Rate and Income Taxes Provided (Detail)                          
29: R67         Income Taxes - Schedule of Change in Valuation      HTML     38K 
                Allowance (Detail)                                               
57: R68         Income Taxes - Summary of Change in Balance of      HTML     48K 
                Unrecognized Income Tax Benefits (Detail)                        
88: R69         Equity - Additional Information (Detail)            HTML    108K 
11: R70         Stock-Based Compensation - Additional Information   HTML    101K 
                (Detail)                                                         
22: R71         Stock-Based Compensation - Schedule of Risk Free    HTML     42K 
                Rate Based on U.S. Treasury Yield Curve Effect at                
                Time of Grant (Detail)                                           
47: R72         Stock-Based Compensation - Summary of Stock Option  HTML     70K 
                Activity (Detail)                                                
17: R73         Stock-Based Compensation - Grants of Restricted     HTML     57K 
                Shares of Class B Common Stock (Detail)                          
91: R74         Accumulated Other Comprehensive Income (Loss) -     HTML     46K 
                Schedule of Accumulated Balances for Each                        
                Classification of Other Comprehensive Income                     
                (Detail)                                                         
26: R75         Legal Proceedings - Additional Information          HTML     81K 
                (Detail)                                                         
19: R76         Commitments and Contingencies - Additional          HTML     58K 
                Information (Detail)                                             
21: R77         Commitments and Contingencies - Future Minimum      HTML     56K 
                Payments for Operating Leases (Detail)                           
13: R78         Commitments and Contingencies - Restricted Cash     HTML     45K 
                and Cash Equivalents (Detail)                                    
16: R79         Related Party Transactions - Additional             HTML     66K 
                Information (Detail)                                             
64: R80         Defined Contribution Plans - Additional             HTML     38K 
                Information (Detail)                                             
20: R81         Business Segment Information - Additional           HTML     77K 
                Information (Detail)                                             
87: R82         Business Segment Information - Operating Results    HTML     57K 
                of Business Segments (Detail)                                    
44: R83         Selected Quarterly Financial Data (Unaudited) -     HTML    111K 
                Summary of Selected Quarterly Financial Data                     
                (Detail)                                                         
90: XML         IDEA XML File -- Filing Summary                      XML    162K 
34: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   1.50M 
 2: EX-101.INS  XBRL Instance -- idt-20120731                        XML   2.35M 
 4: EX-101.CAL  XBRL Calculations -- idt-20120731_cal                XML    342K 
 5: EX-101.DEF  XBRL Definitions -- idt-20120731_def                 XML   1.41M 
 6: EX-101.LAB  XBRL Labels -- idt-20120731_lab                      XML   2.15M 
 7: EX-101.PRE  XBRL Presentations -- idt-20120731_pre               XML   1.60M 
 3: EX-101.SCH  XBRL Schema -- idt-20120731                          XSD    359K 
61: ZIP         XBRL Zipped Folder -- 0001193125-12-461999-xbrl      Zip    288K 


‘10-K/A’   —   Amendment No.1 to Form 10-K


This is an HTML Document rendered as filed.  [ Alternative Formats ]



  Amendment No.1 to Form 10-K  

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 10-K/A

Amendment No. 1

 

x Annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

for the fiscal year ended July 31, 2012,

or

 

¨ Transition report pursuant to section 13 or 15(d) of the securities exchange act of 1934.

Commission File Number: 1-16371

 

 

IDT Corporation

(Exact name of registrant as specified in its charter)

 

Delaware   22-3415036

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

520 Broad Street, Newark, New Jersey 07102

(Address of principal executive offices, zip code)

(973) 438-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Name of each exchange on which registered

Class B common stock, par value $.01 per share   New York Stock Exchange

Securities registered pursuant to section 12(g) of the Act: None

 

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ¨    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   ¨    Accelerated filer   x
Non-accelerated filer   ¨    Smaller reporting company   ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes  ¨    No  x

The aggregate market value of the voting and non-voting stock held by non-affiliates of the registrant, based on the closing price on January 31, 2012 (the last business day of the registrant’s most recently completed second fiscal quarter) of the Class B common stock of $8.52 per share, as reported on the New York Stock Exchange, was approximately $137.4 million.

As of November 5, 2012, the registrant had outstanding 21,264,307 shares of Class B common stock and 1,574,326 shares of Class A common stock. Excluded from these numbers are 2,847,485 shares of Class B common stock and 1,698,000 shares of Class A common stock held in treasury by IDT Corporation.

 

 

DOCUMENTS INCORPORATED BY REFERENCE

The definitive proxy statement relating to the registrant’s Annual Meeting of Stockholders, to be held December 17, 2012, is incorporated by reference into Part III of this Form 10-K to the extent described therein.

 

 

 


IDT CORPORATION

Explanatory Note

IDT Corporation (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (the “Amendment”) to the Company’s annual report on Form 10-K for the year ended July 31, 2012 (the “Form 10-K”), filed with the Securities and Exchange Commission on October 15, 2012 (the “Original Filing Date”), solely to furnish Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following interactive data files from the Company’s Form 10-K, formatted in XBRL (Extensible Business Reporting Language):

 

101.INS

   XBRL Instance Document

101.SCH

   XBRL Taxonomy Extension Schema Document

101.CAL

   XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF

   XBRL Taxonomy Extension Definition Linkbase Document

101.LAB

   XBRL Taxonomy Extension Label Linkbase Document

101.PRE

   XBRL Taxonomy Extension Presentation Linkbase Document

No other changes have been made to the Form 10-K. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-K.

 

 


Part IV

Item 15. Exhibits, Financial Statement Schedules.

 

(b) Exhibits.

 

Exhibit
Number

 

Description of Exhibits

    3.01(1)   Third Restated Certificate of Incorporation of the Registrant.
    3.02(2)   Fourth Amended and Restated By-laws of the Registrant.
  10.01(3)   Agreement, entered into as of October 21, 2009 between the Registrant and James A. Courter.
  10.02(3)   Warrant to Purchase Common Stock, entered into as of October 21, 2009 between the Registrant and James A. Courter.
  10.03(4)   Second Amended and Restated Employment Agreement, dated October 28, 2011, between the Registrant and Howard S. Jonas.
  10.04(5)   1996 Stock Option and Incentive Plan, as amended and restated, of IDT Corporation.
  10.05(6)   2005 Stock Option and Incentive Plan of IDT Corporation, as amended.
  10.06(7)   Agreement of Sale between 520 Broad Street Associates, L.L.C. and Registrant, dated September 19, 2007 and amended October 17, 2007 and November 7, 2007.
  10.07(8)   Termination of the Amended and Restated Consulting Agreement, dated April 21, 2010, between the IDT Corporation, Credit Freedom Fighters, LLC and Stephen Brown.
  10.08(9)   Employment Agreement, dated November 22, 2011, between IDT Corporation and Bill Pereira.
  10.09(10)   Purchase Agreement, dated June 16, 2009, by and among IDT Domestic Telecom, Inc., IDT Telecom, Inc., UTCG Holdings, LLC and Carlos Gomez.
  10.10(11)   Credit Agreement, dated July 12, 2012, between IDT Telecom, Inc. and TD Bank, N.A.
  10.11(12)   Employment Agreement, dated October 28, 2011, between IDT Corporation and Liore Alroy
  21.01(11)   Subsidiaries of the Registrant.
  23.01(11)   Consent of Grant Thornton LLP.
  23.02(13)   Consent of Zwick and Banyai, PLLC
  31.01(11)   Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  31.02(11)   Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  32.01(11)   Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  32.02(11)   Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  99.01(13)   Significant subsidiary financial statements
101.INS*   XBRL Instance Document
101.SCH*   XBRL Taxonomy Extension Schema Document
101.CAL*   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*   XBRL Taxonomy Extension Label Linkbase Document
101.PRE*   XBRL Taxonomy Extension Presentation Linkbase Document

 

* furnished herewith.
(1) Incorporated by reference to Form 8-K, filed April 5, 2011.
(2) Incorporated by reference to Form 8-K, filed September 23, 2009.
(3) Incorporated by reference to Form 10-K for the fiscal year ended July 31, 2006, filed October 16, 2006.
(4) Incorporated by reference to Form 8-K, filed November 3, 2011.
(5) Incorporated by reference to Schedule 14A, filed November 3, 2004.
(6) Incorporated by reference to Schedule 14A, filed November 7, 2011.
(7) Incorporated by reference to Form 8-K, filed November 9, 2007.


(8) Incorporated by reference to Form 10-Q for fiscal quarter ended April 30, 2010 filed June 14, 2010.
(9) Incorporated by reference to Form 8-K, filed November 29, 2011.
(10) Incorporated by reference to Form 10-K/A for fiscal year ended July 31, 2009, filed March 25, 2010.
(11) Incorporated by reference to Form 10-K for fiscal year ended July 31, 2012, filed October 15, 2012.
(12) Incorporated by reference to Form 8-K, filed November 3, 2011.
(13) Incorporated by reference to Form 10-K for fiscal year ended July 31, 2011, filed October 11, 2011.


Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

 

IDT CORPORATION
By:  

/s/    Howard S. Jonas        

  Howard S. Jonas
 

Chairman of the Board and

Chief Executive Officer

Date: November 9, 2012

Pursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report on Form 10-K has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

Signature

  

Titles

 

Date

/s/ Howard S. Jonas

  

Chairman of the Board, Chief Executive Officer and Director (Principal Executive Officer)

  November 9, 2012
Howard S. Jonas     

/s/ Marcelo Fischer

  

Senior Vice President—Finance (Principal Financial Officer)

  November 9, 2012
Marcelo Fischer     

/s/ Mitch Silberman

  

Chief Accounting Officer and Controller (Principal Accounting Officer)

  November 9, 2012
Mitch Silberman     

/s/ Bill Pereira

   Director   November 9, 2012
Bill Pereira     

/s/ Lawrence E. Bathgate II

   Director   November 9, 2012
Lawrence E. Bathgate II     

/s/ Eric F. Cosentino

   Director   November 9, 2012
Eric F. Cosentino     

/s/ Judah Schorr

   Director   November 9, 2012
Judah Schorr     

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K/A’ Filing    Date    Other Filings
12/17/128-K,  DEF 14A
Filed on:11/9/12
11/5/123
10/15/1210-K,  4
For Period end:7/31/1210-K,  8-K
7/12/12
1/31/1210-Q
11/29/118-K
11/22/114,  8-K
11/7/11DEF 14A
11/3/118-K
10/28/114,  8-K,  DEF 14C
10/11/1110-K,  S-8
7/31/1110-K
4/5/118-K
6/14/1010-Q
4/30/1010-Q
4/21/10
3/25/1010-K/A
10/21/09
9/23/094,  8-K
7/31/0910-K,  10-K/A,  4,  8-K
6/16/098-K
11/9/078-K
11/7/078-K
10/17/07
9/19/07
10/16/0610-K
7/31/0610-K,  4,  ARS
11/3/04DEF 14A
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