Avid Technology (AVID) Misses Q4 EPS by 2c, Revenues Beat; Offers Q1 & FY19 Revenues Guidance
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Avid Technology Announces Q4 and Full Year 2018 Results
March 14, 2019 4:57 PM EDTBURLINGTON, Mass., March 14, 2019 /PRNewswire/ -- Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced its fourth quarter and full-year 2018 financial results, provided guidance for the first quarter of 2019 and reaffirmed full-year 2019 guidance.
Fourth Quarter 2018 Financial and Business Highlights
Revenue was $112.7 million, an increase of 5% year-over-year and 8% sequentially. Revenue excluding non-cash revenue was $112.4 million, an increase of 7% year-over-year and 10% sequentially. Gross Margin was 59.0%, up 450 basis points year-over-year. Non-GAAP Gross Margin was 60.8%, up 480 basis points year-over-year. Operating Expenses were $54.4... More