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They were able to add more than 35 major clients including Axel Springer, China United Television, a new major business unit of the Walt Disney Company, and RAI (a leading provider of television in Italy) to their list of 2300 clients that include CNN, AP, NBC, BBC, Fox News, Microsoft, etc. Revenues were up 40% sequentially and were up 109% quarter over quarter from 2010. The company expects to be free cash-flow positive by the end of Q4. In Q2, KITD booked most of its restructuring and integration charges and expects to book 2 million in Q3 and none in Q4. This restructuring has been named "Project Delta" which is estimated to eliminate 35 million dollars of total costs from the business on an annualized basis. Finally, after a brief search of Kit digital's CEO, Kaleil Isaza Tuzman, my general impression is that he seemed energetic and shows many traits of a good leader.
Play in the Digital Content space increasing revenues rapidly.
Here's the buy rec:http://www.fool.com/investing/general/2011/04/28/rising-star-buy-kit-digital.aspx
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