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Avid Provides Preliminary Third Quarter 2012 Results
The company currently expects revenues to be
The estimated GAAP net loss for the third quarter of 2012 includes
amortization of intangible assets, stock-based compensation,
restructuring costs and costs and allowances related to divestitures,
acquisition and other costs, and related tax adjustments collectively
totaling
The GAAP operating loss for the third quarter of 2012 is expected to be
The company also reported that it ended the
Avid will hold a conference call on
- The dial-in number is: 719.457.2617
- The replay number is: 719.457.0820
- The confirmation code and replay passcode is: 4569475
- The call will also be available via live Webcast and subsequent replay on the company's website. To listen and view slides online, please visit http://ir.avid.com.
Use of Non-GAAP Financial Measures
This press release contains "non-GAAP financial measures" under the
rules of the
Management considers both GAAP and non-GAAP financial results in managing our business. Non-GAAP financial measures are used internally, for example, in establishing annual operating budgets, in assessing operating performance and for measuring performance under incentive compensation plans. Non-GAAP financial measures are also used in operating and financial decision-making because we believe these measures reflect our ongoing business and allow meaningful period-to-period comparisons. We believe it is useful for investors and others to also review both GAAP and non-GAAP measures in order to understand and evaluate our current operating performance and future prospects in the same manner as management and to compare in a consistent manner the company's current financial results with past financial performance. The primary limitations associated with our use of non-GAAP financial measures are that they may not include all items of income and expense that affect our operations and that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, terms referring to non-GAAP financial measures used in this press release, such as non-GAAP operating loss and non-GAAP net loss, do not have standardized meanings. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies.
Use of Forward-Looking Statements
The financial results included in this release are unaudited. The
contents of this release are preliminary and subject to change. This
release may include forward-looking statements, as defined by the
Private Securities Litigation Reform Act of 1995. Statements in this
press release that relate to future results or events are
forward-looking statements and are based on Avid's current estimates and
assumptions. Forward-looking statements may be identified by the use of
forward-looking words, such as "anticipate," "believe," "should,"
"estimate," "expect," "intend," "confidence," "may," "plan," "feel,"
"could," "will," and "would," or similar expressions. Actual results and
events in future periods and for the quarter ended
About Avid
Avid creates the digital audio and video technology used to make the
most listened to, most watched and most loved media in the world — from
the most prestigious and award-winning feature films, music recordings,
television shows, to live concert tours and news broadcasts. Some of
Avid's most influential and pioneering solutions include Media
Composer®, Pro Tools®, Interplay®, ISIS®, VENUE, Sibelius®, and System
5. For more information about Avid solutions and services, visit www.avid.com,
connect with Avid on Facebook,
Twitter,
© 2012
Avid
PR Contact:
lisa.kilborn@avid.com
or
IR
Contact:
tom.fitzsimmons@avid.com
Source: Avid
News Provided by Acquire Media