KIT Digital reports record Q3
November 9, 2011
KIT Digital, a software solutions and technology services provider for multi-screen, multi-platform video management and delivery, has reported record quarterly results for the period ended September 30th, 2011.
Q3 results increased 29 per cent sequentially to a record $62.3 million from $48.2 million in the previous quarter, and increased 124 per cent from $27.7 million in the same quarter a year ago. Excluding the effect of acquired companies during the comparable periods, the company estimates organic growth in Q3 was 11 per cent sequentially and over 35 per cent versus the same year-ago quarter.
The company estimates approximately 71 per cent of the revenues in Q3 were related to video platform fees, and approximately 29 per cent were derived from fees related to broadcast systems integration, solutions and interface design, content transformation and other professional services.