"KIT digital Reports Record Second Quarter 2010 Results
Revenue Up 120% to $23.1 Million, Driving Operating EBITDA of $4.2 Million or $0.20 per Share PRAGUE, CZECH REPUBLIC, Aug 16, 2010 (MARKETWIRE via COMTEX) --
KIT digital, Inc. (NASDAQ: KITD), the leading global provider of video asset management solutions (VAMs) for multi-screen IP-based delivery, reported financial results for the second quarter ended June 30, 2010. All figures are reported in U.S. dollars.
Revenue in the second quarter of 2010 increased 33% to a record $23.1 million from $17.4 million in the previous quarter, and increased 120% from $10.5 million in the same quarter a year-ago. The company's revenues are primarily comprised of software license and maintenance fees, software set-up fees, and technical integration and creative service charges.
For the second quarter of 2010, net loss was $342,000 or $(0.02) per basic and diluted share, compared to a net loss in the previous quarter of $18.4 million or $(1.33) per basic and diluted share, and a net loss in the second quarter of 2009 of $1.6 million or $(0.37) per basic and diluted share."
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