Archive | November 9, 2011

Avid Struggles to Reverse Downward Trend

9 Nov

Declining Revenue
Avid reported revenues for the nine-month period ended September 30, 2011 were $492.6 million, compared to revenues of $483.2 million for the same period in 2010, a marginal increase of 1.9%. However going back five years to 2007, this represents a 26.6% decline in Q3 revenues. Looking at annual revenues, Avid further cut its full-year 2011 revenue outlook to $665-$675 million from its previous estimates of $690-$710 million, citing restructuring charges and challenging macro environment. Based on this estimate, Avid’s five year trend in annual revenue has declined by 37%.