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Avid reports 4Q loss

BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Thursday reported a fourth-quarter loss of $881,000, after reporting a profit in the same period a year earlier.

The Burlington, Massachusetts-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 15 cents per share.

The audio and video technology company posted revenue of $107.3 million in the period.

For the year, the company reported a loss of $13.6 million, or 33 cents per share, swinging to a loss in the period. Revenue was reported as $419 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 revenue in the range of $404 million to $434 million.

Avid shares have decreased 3.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.20, a decline of roughly 3 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVID at https://www.zacks.com/ap/AVID