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Avid Announces New Chief Financial Officer
Established Technology Executive John Frederick Assumes New Role
Earlier in his career,
"John is a seasoned financial executive with extensive experience
directing the strategic performance of high-growth technology
companies," said
Forward Looking Statements
Statements made in this release that express Avid's or its management's
intentions, indications, beliefs, expectations, guidance, estimates,
forecasts or predictions of the future constitute forward-looking
statements, as defined by the Private Securities Litigation Reform Act
of 1995, and relate to matters that are not historical facts. They
include, without limitation, statements relating to Avid's growth. These
forward-looking statements are based on current expectations as of the
date of this filing and subject to known and unknown risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied by such statements, including but not limited
to: the Company's ability to regain compliance with NASDAQ's continued
listing requirements; whether NASDAQ will accept the Company's plan of
compliance and grant an extension; the impact of the delay in Avid's
completion of its financial statements and the filing of its Annual
Report on Form 10-K; the impact of the ongoing evaluation of accounting
treatment on financial results for 2012 and prior periods; the material
weakness in Avid's internal control; changes in Avid's leadership team;
Avid's ability to execute its strategic plan and meet customer needs;
its ability to produce innovative products in response to changing
market demand, particularly in the media industry; risks related to
litigation; competitive factors; history of losses; fluctuations in its
revenue, based on, among other things, Avid's performance in particular
geographies or markets, fluctuations in foreign currency exchange rates,
and seasonal factors; adverse changes in economic conditions; and Avid's
liquidity. Moreover, the business may be adversely affected by future
legislative, regulatory, or tax changes as well as other economic,
business and/or competitive factors. The risks included above are not
exhaustive. Other factors that could adversely affect Avid's business
and prospects are described in the filings made by the Company with the
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,
and 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,
© 2013
Avid
Media:
lisa.kilborn@avid.com
or
Investors:
tom.fitzimmons@avid.com
Source:
News Provided by Acquire Media