Tag Archives: Avid

Avid Replace CFO Amid Financial Troubles

28 Apr

A month after receiving a letter from Nasdaq saying the company is in danger of being delisted(Avid Gets More Bad News ), Avid has named a new CFO to replace Ken Sexton, who has held the role for the past five years.  This follows on the heels of the not so amicable replacement of CEO Gary Greenfield in February (Avid Switches CEO’s on Heels of Declining Revenue Trend ) […]

Avid Gets More Bad News

24 Mar

Following on the heels of  Avid’s recent postponement of Q3 earnings (Avid Postpones Q3 Earnings Release) as well as the replacement  of CEO Gary Greenfield  (Avid Switches CEO’s on Heels of Declining Revenue Trend), Avid has now announced more bad news… a potential delisting from the NASDAQ Stock Exchange.

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Avid Postpones Q3 Earnings Release

25 Feb

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.

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Avid Switches CEO’s on Heels of Declining Revenue Trend

11 Feb

Avid chairman, CEO, and president Gary G. Greenfield has resigned, effective today, according to a SEC filing released this morning. It appears from the filing that the parting of Avid and Greenfield was somewhat rocky, based on the SEC statement that Greenfield would “release claims against the company” on payment of $1M + in salary and benefits. The filing states that:

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Avid Transforms Media Production Workflow

4 Dec

Avid® (NASDAQ: AVID) today announced the availability of Interplay®Central 1.3, a user interface that extends the media production environment through Web-based and mobile devices.

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Avid 2011 Revenue Down

9 Feb

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.

Avid Targets Ipad Users

2 Feb

Avid just announced the release of its first video editing application for the iPad—Avid Studio. The app will run on iPad only, though Avid says it’s exploring other mobile operating systems. Avid Studio for iPad costs $4.99 to start; after 30 days, the price will jump to $7.99. That’s still much less than what other current desktop editing applications cost, including Avid’s own Avid Studio ($129.99), Adobe Premiere Elements ($99.99), Apple’s Final Cut Pro X ($299.99), and Sony’s Vegas Movie Studio HD Platinum ($59.95).

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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%.
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SCRI Partners with Digital Video Expo

19 Aug

SCRI once again has partnered with Digital Video Expo. FOr full ist of partners go to: http://dvexpo.com/conference/sponsorsandpartners.php?cat=18
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