Avid Technology Announces Q4 and Full Year 2018 Results
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Avid Technology (AVID) Misses Q4 EPS by 2c, Revenues Beat; Offers Q1 & FY19 Revenues Guidance
March 14, 2019 4:59 PM EDTAvid Technology (NASDAQ: AVID) reported Q4 EPS of $0.14, $0.02 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $112.7 million versus the consensus estimate of $110.43 million.
Fourth Quarter 2018 Financial and Business Highlights
Revenue was $112.7 million, an increase of 5% year-over-year and 8% sequentially. Revenue excluding non-cash revenue was $112.4 million, an increase of 7% year-over-year and 10% sequentially.Gross Margin was 59.0%, up 450 basis points year-over-year. Non-GAAP Gross Margin was 60.8%, up 480 basis points year-over-year.Operating Expenses were $54.4 million, an increase of 1% year-over-year and 2% sequentially largely driven... More