|"KIT digital Reports Record Q3 2011 Results
Revenue Up 124% Y-o-Y and 29% Sequentially to $62.3 Million and Op. EBITDA Up 223% Y-o-Y and 49% Sequentially to $14.3 Million, Delivering Net Income of $4.8 Million or $0.11 per Share
PRAGUE, Czech Republic and NEW YORK, New York ¡V November 9, 2011 ¡V KIT digital, Inc. (NASDAQ: KITD), a premium software solutions and technology services provider for multi-screen, multi-platform video management and delivery, reported third quarter results for the period ended September 30, 2011. All figures are listed in U.S. dollars.
Q3 2011 & Outlook Highlights
„h Revenue up 29% sequentially to record $62.3 million and up 124% over Q3 2010;
„h On an organic basis, revenue was up 11% sequentially (off of pro forma Q2 revenues of approximately $56 million), implying an annualized organic growth pace of over 40%;
„h GAAP net income totaled $4.8 million or $0.11 per basic and diluted share, compared to net losses in all comparable periods;
„h Operating EBITDA up 49% sequentially to record $14.3 million and up 223% over Q3 2010;
„h Integration expenses from previous acquisitions totaled $2.6 million during Q3, with no such expenses expected for Q4;
„h Added more than 30 net new clients during the quarter, with over $35,000 per month in average revenue;
„h Q4 2011 guidance of at least $67 million in revenue and $17.5 million in EBITDA;
„h Reaffirmation of revenue guidance of at least $300 million in 2012, with a ¡§positive bias;¡¨ projected to reach EBITDA margin in the vicinity of 30% by the end of 2012;
„h Non-GAAP adjusted EPS guidance of at least $0.33 per basic share in Q4 2011 and at least $1.45 per basic share in FY 2012."