BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Monday reported fourth-quarter earnings of $15.4 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The audio and video technology company posted revenue of $116.3 million in the period.
For the year, the company reported net income of $7.6 million, or 17 cents per share, swinging to a profit in the period. Revenue was reported as $411.8 million.
For the current quarter ending in April, Avid said it expects revenue in the range of $95 million to $105 million.
The company expects full-year earnings in the range of 84 cents to 93 cents per share, with revenue ranging from $417 million to $437 million.
Avid shares have declined 28% since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.15, a climb of 39% in the last 12 months.