Archive | July, 2012

Avid Q2 Revenue Continues Declining Trend

31 Jul

Avid® reported GAAP revenues of $157.4 million for the three-month period ended June 30, 2012, compared to $161.8 million for the same period in 2011. The GAAP net loss for the second quarter was $39.0 million, or $1.01 per share, compared to a GAAP net loss of $11.1 million, or $0.29 per share, in the second quarter of 2011.

Apple Q3 Up But Below Wall Street Estimates, Again

24 Jul

Apple posted third quarter revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. These results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

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Blackmagic Design Acquires Assets of Cintel International

24 Jul

Blackmagic Design has acquired the intellectual property and all aspects of Cintel’s entire portfolio of film scanning products, following the liquidation of Cintel International earlier in 2012. This includes all of the IP, name and brand ownership and product development rights for the Cintel diTTo and dataMill digital scanners lines, URSA, C-Reality, DSX, and Millennium telecine lines as well as imageMill data management products. With this acquisition Blackmagic Design moves into yet another Digital Cinema field after the announcement of a new Digital Motion Picture camera at NAB and the previously acquired DaVinci color correction technology. They’ve come a long way from only making inexpensive converter boxes just a few years back.
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Avid to Sell Off Consumer Biz — Layoffs Continue

4 Jul

Avid has announced that the company is selling its consumer audio and video businesses and plans to focus on the broadcast and pro video sectors. In addition the company also announced another round of layoffs, the third in the past few years, This time another 20% of Avid’s employees will be laid off.  SCRI has reported extensively on the downsizing, layoffs and declining revenue trend at Avid over the past few years and this latest move does not come as a major shock to those following the recent performance of this company.
See the following SCRI articles on Avid: