Ouch for Avid

Wow, earlier today I suggested Avid as one of the companies Apple could buy with its wad of cash. Avid just announced their quarterly results, with a drop in earnings compared to the year ago period and a 10x increase in their net loss.

Also announced is a plan to sell Softimage, and a workforce reduction (edit: about 410 people or roughly 15% of the company).

Leave a Reply

Your email address will not be published. Required fields are marked *