Avid Technology Inc. (AVID)

Avid Technology, Inc. develops, markets, sells, and supports software and hardware products for the production, management, and distribution of digital media content. It operates in three segments: Professional Video, Audio, and Consumer Video. The Professional Video segment offers solutions, including video and film editing systems, integrated storage, workflow and asset management tools, 3D and special-effects software, as well as a range of services from product support and training to consultancy and managed services. This segment markets these solutions to professional users, broadcast and cable companies, corporations, governmental entities, and educational institutions under the Avid Video and Sundance Digital names. The Audio segment produces digital audio systems for audio recording, editing signal processing, mixing, post production, collaborating, distributing, and scoring to professional music studios, project studios film and television production and post production facilities, television and radio broadcasters, production studios performance venues, corporations, governmental entities, and educational institutions under the Digidesign, M-Audio, and Sibelius names. The Consumer Video segment develops and markets video editing and digital lifestyle products that enables creating, editing sharing, publishing, and viewing media content using a personal computer to the home video editors, corporate institutions, and government and educational institutions under the Pinnacle name. Avid Technology markets its products through direct and indirect sales channels, including a network of independent distributors, value-added resellers, and dealers, as well as serves its customers and markets directly. The company was founded in 1987 and is headquartered in Tewksbury, Massachusetts.

For the nine months ended 30 September 2006, Avid Technology, Inc.'s revenues rose 27% to $671.5M. Net income fell 38% to $9.6M. Revenues reflect an increase an product sales and higher revenues from services. Net income was offset by an increase in amortization of intangible assets, higher research & development expense, an increase in marketing & selling expense and the presence of $554K restructuring charges.