Avid: 3Q Earnings Snapshot
BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Thursday reported third-quarter earnings of $3.2 million.
The Burlington, Massachusetts-based company said it had profit of 7 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 10 cents per share.
The audio and video technology company posted revenue of $93.5 million in the period.
Avid expects full-year earnings in the range of 50 cents to 60 cents per share, with revenue in the range of $405 million to $415 million.
Avid shares have increased 43% since the beginning of the year. The stock has climbed 21% in the last 12 months.