SOURCE: Avid

Avid

November 11, 2010 13:15 ET

Avid Provides Financial Guidance for 2010 and 2011

BURLINGTON, MA--(Marketwire - November 11, 2010) - In connection with its annual Investor Day event, Avid® (NASDAQ: AVID) will today provide guidance for the company's 2010 and 2011 financials. 

Avid expects revenue for the full year of 2010 to be in the range of $655 - $665 million. The company also expects to report a non-GAAP operating profit for 2010 of approximately one percent of revenue. Non-GAAP taxes and net interest expense for 2010 is expected to be in the range of $8 - $10 million. Non-GAAP results exclude GAAP net charges of approximately $37 - $40 million, which include: amortization of intangible assets, stock-based compensation, restructuring and other charges, gain or loss on asset sales, acquisition-related costs, legal settlement costs and related tax adjustments.

For 2011, Avid expects revenue in the range of $690 - $710 million and a non-GAAP operating profit target of five percent of revenue. Non-GAAP taxes and net interest expense for 2011 is expected to be in the range of $10 - $13 million. The 2011 non-GAAP net income excludes GAAP net charges of approximately $32 - $37 million.

For purposes of providing investors with an understanding of its future business model, Avid is providing forward-looking analysis on a non-GAAP basis. Avid's GAAP financial measures are not, however, available on a forward-looking basis and comparable future GAAP financial measures could be materially different.

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, live concert tours and news broadcasts, to music and movies made at home. Some of Avid's most influential and pioneering solutions include Media Composer®, Pro Tools®, Interplay®, ISIS®, VENUE, Oxygen 8, Sibelius®, System 5, and Pinnacle Studio™. For more information about Avid solutions and services, visit www.avid.com, del.icio.us, Flickr, Twitter and YouTube; connect with Avid on Facebook; or subscribe to Avid Industry Buzz.

© 2010 Avid Technology, Inc. All rights reserved. Product features, specifications, system requirements and availability are subject to change without notice. All prices are USMSRP for the U.S. and Canada only and are subject to change without notice. Contact your local Avid office or reseller for prices outside the U.S. and Canada. Avid, the Avid logo, Media Composer, Pro Tools, Interplay, ISIS, Sibelius and Pinnacle Studio are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. The Interplay name is used with the permission of the Interplay Entertainment Corp. which bears no responsibility for Avid products. All other trademarks are the property of their respective owners.

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