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Author: Starrob Big funky green star, 20000 posts Top Favorite Fools Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 659  
Subject: KIT digital Delivers Positive End-of-Year 2011 Date: 1/19/2012 1:15 AM
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"PRAGUE, CZECH REPUBLIC and BELMONT, CA, Jan 06, 2012 (MARKETWIRE via COMTEX) -- KIT digital, Inc. KITD +0.21% , a premium cloud-based software solutions and technology services provider for multiscreen video management and delivery, provided an update on its 2011 performance, closed the asset purchase of Sezmi Corporation, raised its 2012 guidance, and implemented plans to move its secondary listing from the Prague Stock Exchange to the London Stock Exchange (in addition to its current NASDAQ Global Select listing).

Q4 2011 Results on Track with Strong Positive Free Cash Flow Generation KIT digital closed 2011 with strong operating and financial momentum. Based on preliminary unaudited information, KIT digital management expects to deliver on its previously provided fourth quarter 2011 guidance, including positive free cash flow in December of at least $2.5 million. KIT digital plans to report preliminary Q4 2011 financial results in February.

"2011 was a milestone year for KIT digital," said the company's chairman and CEO, Kaleil Isaza Tuzman. "We generated organic top-line growth of more than 30% year-over-year, and achieved our free cash flow and GAAP net profitability targets before year-end. As we begin 2012, we are focused on building upon our leadership position in the IP video market in a manner that generates growing and measurable per-share cash returns."

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