Avid Technology (AVID) Misses Q3 EPS by 19c; Guides Below
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Avid Announces Third Quarter 2016 Results
November 9, 2016 4:26 PM ESTContinued Strong Growth in Cloud-Enabled Subscriptions Efficiency Program and Completion of Transformation in Q2 2017 On-TrackFull-Year Guidance Updated to Reflect Transition of Storage Product and Continued Enterprise Market Volatility
BURLINGTON, Mass., Nov. 09, 2016 (GLOBE NEWSWIRE) -- Avid® (Nasdaq: AVID) announced its third quarter 2016 financial results today and updated its guidance for full year 2016.
Third Quarter 2016 Financial Highlights
GAAP and non-GAAP Revenue was $119.0 million, slightly below the guidance range due to the transition of the storage product and higher proportion of recurring revenue bookings, and down $18.4 million... More