Avid: 4Q Earnings Snapshot

Associated Press |

BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Thursday reported fourth-quarter net income of $5.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Burlington, Massachusetts-based company said it had net income of 14 cents. Earnings, adjusted for amortization costs and stock option expense, were 29 cents per share.

The audio and video technology company posted revenue of $112.7 million in the period.

For the year, the company reported that its loss narrowed to $10.7 million, or 26 cents per share. Revenue was reported as $413.3 million.

For the current quarter ending in April, Avid said it expects revenue in the range of $96 million to $104 million.

The company expects full-year revenue in the range of $420 million to $430 million.

In the final minutes of trading on Thursday, the company's shares hit $4.90. A year ago, they were trading at $5.09.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVID at https://www.zacks.com/ap/AVID

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer



Symbol Last Price Change % Change










World Economic Forum at Davos 2019 - Frank Ricotta CEO BurstIQ

Matt Bird sits down with Frank Ricotta, CEO BurstIQ, at the World Economic Forum at Davos 2019