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TMCNet:  KIT digital Expects to Make Use of 10-Q Filing Extension as a Result of Delays Related to Hurricane Sandy

[November 09, 2012]

KIT digital Expects to Make Use of 10-Q Filing Extension as a Result of Delays Related to Hurricane Sandy

NEW YORK, NY, Nov 09, 2012 (MARKETWIRE via COMTEX) -- KIT digital, Inc. (NASDAQ: KITD), a leading video management software and services company, announced today that the filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 has been delayed due to the effects of the aftermath of Hurricane Sandy. As a result of the storm, the company experienced a loss of electricity and telephone service for one week at its headquarters in New York City and a number of its employees, auditors and others living in affected areas who have been historically responsible for the preparation of the company's SEC filings and related financial statements and disclosures were displaced. The Securities and Exchange Commission recently announced that it anticipated relief measures that would extend the filing deadline of any individual or entity that cannot timely file due to Hurricane Sandy and its aftermath to November 21, 2012. The company intends to make use of this extension and is working towards filing the third quarter Form 10-Q by such extended deadline.

About KIT digital, Inc.

KIT digital (NASDAQ: KITD) is a leading video management software and services company. Cosmos and Cloud, the company's video asset management systems, enable leading broadband media companies to produce, manage and deliver multiscreen socially-enabled video experiences to audiences wherever they are.

KIT digital services thousands of clients globally including some of the world's biggest brands, such as Airbus, The Associated Press, AT&T, BBC, BSkyB, Disney-ABC, Google, HP, Mediaset, MTV, News Corp, RCS Media Group, Sky Deutschland, Sky Italia, Telecom Argentina, Telecom Italia, Telefonica O2, Universal Studios, Verizon, Vodafone, VRT and Volkswagen. KIT digital maintains headquarters in New York City and offices in more than a dozen countries around the world.

Visit the company at www.kitd.com or follow on Twitter at www.twitter.com/KITdigital.

KIT digital Media Contact: Werbayne McIntyre Director, Marketing Tel. +44 7590 554 845 Email Contact KIT digital Investor Contact: Murray Arenson Managing Director, Financial Strategy Tel. +1-646-553-4900 Email Contact SOURCE: KIT digital, Inc.

http://www2.marketwire.com/mw/emailprcntct id=0590B2D53F09BD54 http://www2.marketwire.com/mw/emailprcntct id=5D3BF4DC88845A94

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