Avid Confirms Continued Negative Trend with Q3 Results

31 Oct

SCRI's NewsBriefs

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As per the Q3 preliminary results announced earlier, Avid  today reported GAAP revenues of $127.2 million for the three-month period ended September 30, 2012, compared to $164.7 million for the same period in 2011. The GAAP net loss for the third quarter was $17.4 million, or $0.45 per share, compared to a GAAP net loss of $7.6 million, or $0.20 per share, in the third quarter of 2011.
Revenues for the nine-month period ended September 30, 2012 were $436.7 million, compared to revenues of $492.2 million for the same period in 2011. The GAAP net loss for the first nine months of 2012 was $69.6 million, or $1.80 per share, compared to a GAAP net loss of $23.5 million, or $0.61 per share, for the same period in 2011.
Avid appears to be on a trajectory to continue the decline in annual revenues and continued losses reported since 2007.
Earlier this year, Avid reported that revenues for 2011 were $677.9 million, compared to revenues of $678.5 million for the same period in 2010. This continues the downward trend in reported annual revenues since 2007.
Year  Annual $M
2011     677.9
2010     678.5
2009     629.0
2008     844.9
2007     929.6
2006     910.6

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