KIT Digital closes 2011 with a very positive balance

During the fourth quarter of 2011 KIT Digital signed 35 contracts with clients, including new contracts and extensions, with companies such as AOL, eTV, Grupo Clarín, Liberty Global, NBC Universal, OSN, PRISA, Telecom Argentina, The Walt Disney Company or the American Olympic Committee.

KIT Digital provided an update on its performance in 2011, closing the asset purchase of Sezmi Corporation and raising its 2012 guidance, as well as developing plans to move its secondary listing from the Prague Stock Exchange to the London Stock Exchange.

At KIT Digital, the results for the fourth quarter of 2011 are on track with a generation of positive free cash flow, closing the year 2011 with a strong boost in operations and finances. Based on preliminary information that has not been audited, KIT Digital management expects to be able to deliver its 2011 guidance for the fourth quarter, including positive cash flow in December of at least $2.5 million.

During the fourth quarter of 2011 KIT Digital signed 35 contracts with clients including new contracts and extensions, with some of these clients represented by AOL, eTV (South Africa), Grupo Clarín (Argentina), Liberty Global, NBC Universal, OSN (UAE), Prisa (Spain), SA TV (Bangladesh), Starhub (Singapore), Telecom Argentina, The Walt Disney Company and the American Olympic Committee. IBM has also been added as a new key technology, marketing and implementation partner. As of December 31, 2011, KIT Digital's customer base reached a total of 2,450 customers.

Latin America

In 2011 KIT Digital has expanded its customer base in the Latin American region by more than five times, reaching the end of the fiscal year with many new customers and extended business agreements.

Some of the Latin American clients that have recently joined KIT Digital's client base include: Broadcast Corporation of the Bahamas (ZNS Network) engaged KIT Digital to carry out a major digital upgrade, including tape removal, IP-based workflow and provision for IP-based multi-screen broadcasting; Merville Lynch Productions, a major provider of production services to ESPN, Granada and others have selected KIT Digital to install the new IP and HD broadcast systems; Telecom Argentina has deployed the KIT video platform to power Arnet Play, its high-quality OTT video service, allowing the network operator to deliver more than 2,500 film and TV titles to consumers on multiple devices on demand; Clarín, the most important multimedia group in Argentina and one of the largest in Latin America, has chosen the KIT video platform to distribute its high-quality entertainment content and important live events to millions of users on multiple devices.