Well the good news back in March was that Avid's stock spiked in price even though they lost money and missed the ridiculous estimates they floated early in '15. "Revenue for the full year 2015 was $505 million, down from $530 million in 2014. Net income for the full year 2015 was $2.48 million, down from $14.7 million in 2014".
The bad news is the stock has now settled to damn close to a 52 week low and the company, which was cash laden at one time, is taking out loans of upwards of $105 million. And these rich dudes noted above are stating that most of the savings needed for Louie's "transformation" of Avid will come from "personnel related savings"....layoffs. Great company. Where do I sign up? Maybe one of you guys needs to ask about this stuff at Avid Connect? :-)
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Posted by: switthaus@mac.com
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this is the Avid-L2
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