AVID Q3 earnings update

AVID announced Q3 2015 earnings (quarter ended September 30, 2015) after the close last night. Revenues were $137.4 million down from $142.4 million last year. They made a Non-GAAP profit of $.47 per share versus a $.57 profit last year. Our valuation moved up a bit to $23.99 from $22.24 last quarter. Overall a decent quarter as they continue their transition to a recurring revenue model, foregoing short term revenues and profits.. AVID is trading for less than 40% of our valuation. We still think this is way undervalued and a BUY.

http://finance.yahoo.com/news/avid-announces-financial-results-third-215941217.html

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