Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of John Bright with Avondale Partners. Please proceed with your question.
Tom Kucera - Avondale Partners
Good afternoon. This is Tom Kucera for John Bright. Tony, I noticed in your release that you mentioned a revenue item that affected revenues for the quarter one-time item and I didn't hear you saying anything about that on the call. Is there any other color you could give on that?
David Hitchcock
Yeah, this is David. There was nothing significant there, when we had closed the books and preparation for the January 15th call, we had expected an item to be reserved and therefore decrease our revenue for the quarter. Subsequent to that call, we had favorable resolution as a one-time item, nothing significant about it.
Tom Kucera - Avondale Partners
Okay. Next, I am hearing a lot of chatter here on data roaming in Europe and the potential regulations there. I am wondering what your exposure is to that, if you couldn't characterize that?
Tony Holcombe
Well I think our belief, just like as we talked about all the EU changes, Tom, is that we think that's good news for us. Anything that increases the uptake of data roaming, the more traffic increases, the more beneficial it is to us on a regional basis and on a global basis.
Tom Kucera - Avondale Partners
Well, I guess I am wondering more in terms of, for example with Vodafone and some of your other EU customers, is your exposure to data or your penetration there really the same as in the US?
Tony Holcombe
Tom, I am not sure I quite followed your question relative specifically to Vodafone or contract with Vodafone will cover all types of clearing, so that would include voice, it would include SMS, it would include data type sessions. So in that environment again, if rates go down and traffic increases, that generally is a very good thing for us.
Tom Kucera - Avondale Partners
All right. Thank you.
Operator
Your next question comes from the line of Scott Sutherland with Wedbush Morgan Securities. Please proceed with your question.
Scott Sutherland - Wedbush Morgan Securities
Great thank you. Good afternoon.
Tony Holcombe
Hey Scott.
Scott Sutherland - Wedbush Morgan Securities
Couple of question for you guys. First, with continued solid cash flow, what is your appetite for M&A with some interesting assets out there such as VeriSign and others, or are you looking to pay down the debt first and maybe M&A later, now you've just acquired BSG?
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