Avid Technology (AVID) Misses Q4 EPS by 25c, Miss on Revenues

Note: EPS may be comparable

Avid Technology (NASDAQ: AVID) reported Q4 EPS of ($0.02), $0.25 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $107.3 million versus the consensus estimate of $108.53 million.

Highlights of Fourth Quarter 2017 Results

• Bookings excluding Greater China were $140.8 million and Constant Currency Bookings were $145.9 million, both above guidance.
• GAAP Revenue was $107.3 million, in line with guidance.
• GAAP Gross Margin was 54.5%. Non-GAAP Gross Margin was 56.0%.
• GAAP Operating Expenses were $53.7 million. Non-GAAP Operating Expenses were $48.2 million, in line with guidance.
• GAAP Net Loss was $881,000.
• Adjusted EBITDA was $15.0 million, in line with guidance.
• GAAP Net Cash Provided by Operating Activities was $2.8 million.
• Adjusted Free Cash Flow was $4.8 million, above guidance. This is the fifth consecutive quarter of positive Adjusted Free Cash Flow. For the full year 2017, Adjusted Free Cash Flow was up $59 million compared to 2016.

For earnings history and earnings-related data on Avid Technology (AVID) click here.

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