Leo_o2's expalnation is pretty good - except that when the input goes HIGH, Q4's base is pulled low and the o/p is LOW, i.e. the ckt is inverting - BUT when the input goes low the o/p goes high for a limited time only as there is no DC path to keep the o/p high, thus a square wave input will give an inverted o/p with shorter positive pulses. The 330pF caps speed up the switching times. The RC on the o/p sets the slew rate of the output edges.
Hope this helps, regards, Orson Cart.