KIT digital Announces Record Preliminary Q4 and Full Year 2011 Results, Updates Guidance for 2012
finance.yahoo.com
KIT digital's preliminary Q4 and full year 2011 results are summarized as follows:
Revenue of $70 million for the fourth quarter of 2011 represents a sequential increase of 12% from the previous quarter and an increase of 82% from the fourth quarter of 2010. Revenue for the full year of 2011 is expected to be approximately $215 million, up 102% from 2010.
Non-GAAP operating income of $16.4 million for the fourth quarter of 2011 represents a sequential increase of 15% from the previous quarter and an increase of 145% from the fourth quarter of 2010. Non-GAAP operating income for the full year of 2011 is expected to be approximately $47.3 million, up 158% from 2010.
KIT digital's 2011 revenue growth was primarily driven by the continued expansion of the company's premium, multi-source to multi-screen content management platform deployments, including new customer wins in Q4 and additional utilization from AT&T, BSkyB, Liberty Global, The Walt Disney Company, and others. The company has been deploying resources to support these and other customer engagements. While the increased deployment demands in the fourth quarter put incremental pressure on operating margins, management believes these commitments will lead to higher margin revenues over time, as client deployments become more fully implemented and greater leverage is realized from ongoing software platform fees. |
