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Avid delisted from NASDAQ
  • Vitaliy_KiselevVitaliy_Kiselev

    Avid(R) announced that as expected, it received a notification letter from NASDAQ on February 21, 2014 indicating that the NASDAQ Listing Qualifications Hearings Panel had determined to delist the shares of the Company from The NASDAQ Stock Market and, accordingly, suspend trading in the Company's shares effective at the open of business on Tuesday, February 25, 2014.

    Company has accelerated losses: -$7.55 million to -$17.39 million (year over year) and negative cash flow: -$1.38 million “net operating cash flow,” a stunning year-over-year 1167.44% drop.

  • 9 Replies sorted by
  • mrbillmrbill

    Mmmm. We've just invested in two new pro-tools rigs for our dubbing suites...

  • sammysammy

    It was just a matter of time .I started with pro tools many years ago .stayed at pro tools 8 for the past 5 years .no major improvements since

  • soundgh2soundgh2

    They didn't file their accounts a few years ago and got bumped - I wouldn't worry, we won't be mixing Bond on Ableton 59 any time soon - in the past 25 years I've seen Pyramixes (dubbing stems) and some Fairlights (Pong) and loads of Audiofiles propping up doors in studios as well as Akai's, SSL Scenaria, the wax tube and spoken word - even Online editors dubbing - go figure - TOWIE anyone? (in the UK anyhow) Don't think DeLaneLea, for example, will be turning to Reaper to sort their shit in the next week. It's a box - its absolutely everywhere, embedded in institutions that will never allow it to go tits up mixing almost everything you hear on TV and film - used 99% more of the time than any other DAW for actual audio work in broadcast- not noodling - it's a bit of buggy and arsey software - but it is THE software. Annoyed me since beta Emulator fiddling program but it's a tool - sound goes in - and it comes out.

  • TheNewDealTheNewDeal

    Avid hasn't reported earnings in over a year. I wonder who made up those numbers?

  • lunalobo75lunalobo75

    Marianna (from avid) has a bit more info:

    • Avid’s de-listing from NASDAQ and its subsequent listing on OTC is the result of delays in the reporting of financial information -- it was not related to operating performance in any way; As the company previously reported, and as a result of the restatement, previously issued financial statements are not accurate and should not be relied upon.
    • The company is continuing to work very hard to correct the accounting, which is related to nearly 5 million transaction lines spanning eight-and-a half years. We announced that we are targeting completion of the restatement by mid-2014.
    • Avid continues to invest in product innovation - Dave said the following online on the L2 yesterday:

    http://community.avid.com/forums/p/125975/721571.aspx#721571

  • Vitaliy_KiselevVitaliy_Kiselev

    @lunalobo75

    It is false mostly. As Avid did not report results due to horrible performance. And it is such horrible that it was more easy to be delisted.

  • mrbillmrbill

    @Vitaliy - where did you get that information, if u don't mind me asking?

  • Vitaliy_KiselevVitaliy_Kiselev

    where did you get that information, if u don't mind me asking?

    Reading economics sites. Investor advisers wrote various estimates on performance.

  • lunalobo75lunalobo75

    Did I add those Bullet points in my post? I don't remember doing that, but looks more appropriate then the link I added. I guess only time will tell if Avid is pulling the wool over our eyes with their statement. I hope not.

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