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Last $17.99 USD
Change Today +0.53 / 3.04%
Volume 78.4K
As of 10:37 AM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

avid technology inc (AVID) Snapshot

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05/29/15 - $18.00
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06/11/14 - $7.20
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avid technology inc (AVID) Details

Avid Technology, Inc. develops, markets, sells, and supports software and hardware for digital media content production, management, and distribution in the United States, the other Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers various professional video creative tools, including Media Composer product line, which is used to edit television programs, commercials, and films; NewsCutter option and iNews systems for news production; and Avid Symphony option that is used during post-production. It also provides video storage and server solutions comprising Avid ISIS shared storage systems; and media management solutions, such as MediaCentral | UX Web- and mobile-based apps that enables interplay asset management solutions by providing access to media assets for media professionals. In addition, the company offers audio products and solutions, such as Pro Tools digital audio software and workstation solutions that facilitate the audio production process; complementary control surfaces and consoles; VENUE, a family of console products for mixing audio for live sound reinforcement; and Sibelius-branded software that allows users to create, edit, and publish musical scores. Additionally, it offers workflow design and consulting, program and project management, system installation and commissioning, and role-based product level training services. The company markets and sells its products and solutions to customers in broadcast and media, video and audio post, and professional markets through a network of sales representatives, independent distributors, value-added resellers, dealers, and retailers, as well as through digital sales channels. Avid Technology, Inc. was founded in 1987 and is headquartered in Burlington, Massachusetts.

1,413 Employees
Last Reported Date: 03/16/15
Founded in 1987

avid technology inc (AVID) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.4M
Chief Financial Officer, Chief Administrative...
Total Annual Compensation: $975.0K
Vice President, General Counsel and Corporate...
Total Annual Compensation: $410.0K
Senior Vice President of Worldwide Field Oper...
Total Annual Compensation: $375.0K
Senior Vice President of Products and Technol...
Total Annual Compensation: $412.0K
Compensation as of Fiscal Year 2014.

avid technology inc (AVID) Key Developments

Griffin Communications Adopts Avid Technology's Everywhere

Avid announced that Griffin Communications recently embraced Avid Everywhere™ and implemented a complete end-to-end production workflow comprising solutions built on the Avid MediaCentral™ Platform. The new workflow enables Griffin to share content across multiple news and media divisions, collaborate more easily between teams, increase productivity, and maximize resources throughout the entire organization. The new Avid workflow enables Griffin to unite production teams between its Oklahoma City and Tulsa locations, creating an integrated statewide news and media operation. News teams from both stations can now access the same iNEWS® newsroom management system, see all of the available content, and quickly access the media needed for stories. Avid MediaCentral | UX, the cloud-based, web front-end to the Avid MediaCentral Platform, enables Griffin's news and sports crews working in the field to use iNEWS on their iPads to create and edit stories, work on projects, and access media remotely, greatly enhancing collaboration between reporters and the newsroom staff. Both stations can easily access content stored on each ISIS® shared storage system, quickly transfer media, and broadcast programs from either control room, using AirSpeed® servers for playout. The new Avid workflow has made it much faster for production teams to find assets and create compelling news stories, resulting in higher-quality programming. Finally, the number of newscasts has increased in both markets over the last five years, and the time-saving workflows in Interplay® | Production asset management enable Griffin teams to effectively manage the ever-increasing amount of content without the need for additional staff. Teams can orchestrate time-consuming tasks such as media movement, transcoding, and proxy generation in the background, so they can do more with less.

Avid Technology, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for the Fiscal Year 2015

Avid Technology, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net loss of $0.2 million or $0.00 per basic and diluted share on total net revenues of $119.6 million compared to net income of $8.9 million or $0.23 per basic and diluted share on total net revenues of $135 million reported in the same period last year. Operating income was $1.1 million against $10 million reported last year. Income before income taxes was $0.4 million against $9.3 million reported last year. Non-GAAP operating income was $8.1 million against $15.6 million reported last year. The decrease in operating income was largely attributable to the lower 2011 noncash deferred revenue amortization as compared to last year. Non-GAAP net income was $6.8 million or $0.17 per diluted share against $14.8 million or $0.38 per diluted share reported last year. Adjusted EBITDA was $11.8 million against $20.0 million reported last year. Net cash provided by operating activities was $4.6 million against net cash used in operating activities of $24 million reported last year. Capital Expenditures were $2.9 million against $3.5 million reported last year. The company's financial guidance for fiscal year 2015, which excludes the anticipated Orad acquisition, remains unchanged and reflects: Adjusted EBITDA of $72 million to $78 million. Free cash flow growth of $18 to $30 million or 42% to 136% year-on-year improvement. The company continues to expect 2015 revenue to be flat to up 3% from last year, with non-GAAP gross margins between 60% and 61%. Non-GAAP operating expense is expected to be flat -- between flat and down 4% compared to 2014 with a bias toward the high to midpoint of that range as The company expects to realize full year cost savings from the cost programs that company have already implemented as well as capitalize on some new cost-refinement projects like its wage rate arbitrage efforts. GAAP to non-GAAP adjustments are expected to be between $17 million and $20 million.

Avid Technology, Inc., Q1 2015 Earnings Call, May 07, 2015

Avid Technology, Inc., Q1 2015 Earnings Call, May 07, 2015


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