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Kit Digital Drops to Prague Record Low as Sales Trail Estimates

Kit Digital Inc. (KITD) fell to a record low in Czech trading after the online video software maker’s preliminary first-quarter revenue at $59 million trailed the $72.4 million mean estimate of analysts surveyed by Bloomberg.

The stock plummeted 21 percent to 98.9 koruna by 3:08 p.m. in Prague, the lowest intraday level since the New York-traded company cross-listed in Prague in January 2010.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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