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Avid Technology, Inc. Message Board

  • bobbalinx bobbalinx Apr 26, 2007 8:18 PM Flag

    InPlay headlines "beat by .05" & buyback...

    Contrary to what our short hedgies would like you to believe, this is not a bad report, not one bit:

    4:28PM Avid Tech beats by $0.05 (AVID) 38.66 +0.63 : Reports Q1 (Mar) earnings of $0.25 per share, $0.05 better than the Reuters Estimates consensus of $0.20; revenues rose 0.4% year/year to $218.9 mln vs the $226.3 mln consensus. CEO comments, "Although we're pleased that our bottom-line results were at the high end of our expectations due to careful cost controls and favorable one-time tax adjustments, sustained, profitable growth is our main objective". Co also announces approval of a $100 mln buyback.

 
AVID
6.76-0.43(-5.98%)4:00 PMEST