AVID Reports Strong Third Quarter Results
TEWKSBURY, Mass.--(BUSINESS WIRE)--Oct. 27, 2005--Avid Technology, Inc. (NASDAQ: AVID - News) today reported revenues of $204.4 million for the three months ended September 30, 2005 compared to $147.4 million for the same period in 2004. Reflecting various non-cash charges primarily associated with the closing of the acquisition of Pinnacle Systems, Inc. on August 9, 2005, GAAP net loss for the quarter was $17.8 million, or $.46 per share compared to GAAP net income of $19.0 million, or $.54 per diluted share, in the third quarter of 2004.
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