"KIT digital Reports Record Q4 and Full Year 2011 Results
Q4 2011 Highlights
•Revenue up 12% sequentially to record $70.0 million and up 82% over Q4 2010
•Non-GAAP operating income (formerly referred to as operating EBITDA) was up 15% sequentially to $16.5 million and up 144% over Q4 2010
•Cash-based adjusted EPS totaled $0.37 in Q4 2011, from $0.02 in 2010
•Achieved positive free cash flow in the month of December 2011 of $2.5 million
Full Year 2011 Highlights
•Revenue up 102% to record $214.9 million from $106.6 million in 2010
•Non-GAAP operating income increased 159% to $47.4 million from $18.3 million in 2010
•Cash-based adjusted EPS totaled $0.56 in 2011, an improvement from $(0.15) in 2010
•GAAP net loss was $25.4 million or $(0.61) per basic and diluted share in 2011, an improvement from a net loss of $35.3 million or $(1.63) per basic and diluted share in 2010
Other Q4 2011 Financial Results
The company estimates approximately 69% of the revenues in Q4 2011 were related to video platform fees, and approximately 31% were derived from fees related to broadcast systems integration, solutions and interface design, content transformation and other professional services.
GAAP net income was $2.2 million or $0.05 per basic share in Q4 2011, compared to $4.8 million or $0.11 per basic share in the previous quarter, and an improvement from a net loss of $8.5 million or $(0.31) per basic and diluted share in Q4 2010."
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