Avid Technology Issues Business Update in Response to Global Impact of COVID-19
Avid Technology, Inc. (AVID)
Last avid technology, inc. earnings: 3/9 04:05 pm
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US:NASDAQ Investor Relations:
ir.avid.com/investor-relations
Company Research
Source: GlobeNewswire
Expects to report record growth in new paid subscriptions in first quarter, resulting in improving subscription and maintenance revenue Revises first quarter guidance and withdraws full-year 2020 guidance given the impact of COVID-19 on the business environment Company believes it maintains sufficient near-term liquidity with approximately $81 million in cash and cash equivalents at March 31, 2020 Company to report first quarter 2020 results on May 7, 2020 BURLINGTON, Mass., April 07, 2020 (GLOBE NEWSWIRE) -- Avid® (Nasdaq: AVID) today issued a business update in response to the coronavirus (COVID-19) pandemic. The Company is still completing its review of its first quarter results, which it will report on May 7, 2020. Based on a preliminary review of results for the quarter, the Company expects that its subscription business will experience a record growth quarter in terms of net new cloud-enabled software subscriptions. However, the intensifying COVID-19 crisis during the s
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