Avid Technology Inc. (AVID) reported that its fourth-quarter net loss narrowed to $17.921 million or $0.48 per share from $100.253 million or $2.71 per share a year ago.
Non-GAAP net loss narrowed to $1.373 million or $0.04 per share from $9.274 million or $0.25 per share last year.
On average, 5 analysts polled by Thomson Reuters expected the company to report profit of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues decreased to $174.679 million from $206.706 million prior year. Analysts expected revenue of $162.28 million for the quarter.
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