Avid Reports Improved Bottom Line in Fourth Quarter
Revenue declined though from $195.3 million to $185.3 million.
Avid on Tuesday reported an improved bottom line for the fourth quarter.
The digital audio and video technology firm reported a quarterly profit of $1.2 million, compared with a year-ago loss of $571,000. The figures for both quarters include one-time charges, stock-based compensation and the amortization of intangible assets.
Revenue declined though from $195.3 million in the year-ago period to $185.3 million.
Said Avid chairman and CEO Gary Greenfield: "Our results for the fourth quarter were encouraging and reflect our continued efforts to streamline our operations and improve execution across the business."