Avid Postpones Q3 Earnings Release

25 Feb

SCRI's NewsBriefs

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Avid announced that it is postponing its Q4 2012 earnings release, previously scheduled for Tuesday, February 26, 2013 to “provide additional time to evaluate its current and historical accounting treatment. ”  To read more click […] below.

This announcement comes on the heels of the announcement that Garry Greenfield has been replaced as CEO by Louis Hernandez — Avid Switches CEO’s on Heels of Declining Revenue Trend.

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 — Avid Confirms Continued Negative Trend with Q3 Results
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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