Avid in danger of being delisted from NASDAQ

refocusedmedia

refocusedmedia

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"The Burlington, Mass. based video editing software company, which became a public company in 1993, received the letter after it filed a form with the SEC that said it was unable to file its annual report for the year ended Dec. 31, 2012 on or before March 18, 2013. Avid said the delay in filing was because it had “to evaluate its current and historical accounting treatment related to bug fixes, upgrades and enhancements to certain products which the Company has provided to certain customers.”

In its letter to Avid, Nasdaq states that failure to timely file Avid’s Form 10-K could be a reason for delistment from the Nasdaq."


Full article here: http://www.bizjournals.com/boston/b...anger-of-delistment-from-nasdaq.html?page=all

EDIT: Also, apparently a lawsuit has been filed against them: http://money.msn.com/business-news/article.aspx?feed=MW&date=20130326&id=16282194
 
Michael Schrengohst said:
I wonder if they will show at NAB?
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I would imagine they will be there. Big events like NAB are typically planned for many months in advance and I wouldn't think an internal audit of how bug fixes and updates were classified for revenue purposes would impact the sales team heading to NAB.


-Andrew
 
It is the circle of life ;) , one day you are not top dog anymore , you think you can live on your laruals and sit back, over the years Avid have become very ridged. Do not get me wrong they make a very good product. I remember when we owned Avid it was the only product that worked for us at the time, but due the maintance contrats every year some times near got any updates , poor backup, crap attiude toward its smaller customers, for us the writing was on the wall, we changed to Adobe and Canopus and have never looked back. In a way I am sad to see this happen. One thing I feel they should have never done was to remove AvidFREE DV they should have improved on it, many sudents used it and move to the high end stuff, also they are giong to start feeling it with LightWorks Studio been free and or very cheap up date.
 
Osslund said:
After 14 years on Avid and two years with Premiere I would never go back to Avid. I honestly can't see any advantage with Avid anymore.
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To me it's just the editing part that's done on the timeline. No other NLE comes close to it. But this is just my opinion.
 
I am faster and get a better result with PP than I ever did with Avid. It took some time to rethink the workprocess but after that it's hard to imagine going back. Then there's the tight integration with AE.
 
Osslund said:
After 14 years on Avid and two years with Premiere I would never go back to Avid. I honestly can't see any advantage with Avid anymore.
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If you have broadcast storage with 500 projects and 200 user then you will understand, why is Avid the only one answer .-) . But if you alone or with several people then you can used what you like.

I personaly like Avid editing aplication, it is the most reliable application what I know, it is also a very fast solution with maximum creative freedom. Adobe Premiere is very nice sw, but is on the second place for me.
 
I wouldn't bet on them vanishing. More likely will go private, ala Dell's current story. No need to bolt. Wait. And see. But Premiere is good stuff.

Never make your move too soon...bb king
 
Pave1 said:
If you have broadcast storage with 500 projects and 200 user then you will understand, why is Avid the only one answer .-) . But if you alone or with several people then you can used what you like.
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I was going to say something similar. For multi-editor environments nothing beats Avid + ISIS right now. Multi-user is Avid's bread and butter and it certainly shows when you try to setup FCP or PPro in a similar situation.


-Andrew
 
Avid is $2,500!!! With final cut now $300 and creative cloud out there I can't see why most of us would spend the money for Avid. It's not like Avid's the only "pro" NLE out there. If you're in a huge broadcast environment or have multiple editors, yeah, but what percentage of NLE purchases go to something like that? Besides, at that level $2,500 is not outrageous. But an indy film production? Corporate video production? Music videos? lol.
 
Fahnon said:
Avid is $2,500!!! With final cut now $300 and creative cloud out there I can't see why most of us would spend the money for Avid. It's not like Avid's the only "pro" NLE out there. If you're in a huge broadcast environment or have multiple editors, yeah, but what percentage of NLE purchases go to something like that? Besides, at that level $2,500 is not outrageous. But an indy film production? Corporate video production? Music videos? lol.
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I don't think indy films or music videos have been big MC users for a decade or more and I don't think corporate vids ever really were (FWIW Avid's stock heyday was basically '03-'06). Avid's big money has come from hardware related sales and maintenance to large facilities (post houses, rental companies, studios/networks, TV stations, etc.,). Even if Avid sold MC for $999 I don't know if it would be sustainable under their current revenue model. They are used to selling server solutions and I/O boxes but now what used to be specialized hardware can be had for much cheaper using off-the-shelf components that offer good enough performance. Consolidation of TV stations ownership hasn't done them any favors either. It's common these days for large TV stations to act as hubs for centralized production of content that is then fed out to 'local' TV stations that are sometimes two States way.

MC and 'Hollywood' is only one facet of Avid's business too. I remember talking with a rep from a big renal house in LA (can't remember the name) in '05/'06 and wondering why Avid hadn't fixed some bugs that were talked about a lot in editing circles and the rep basically said that while MC and Hollywood are high profile they didn't generate the revenue for Avid that most people assumed they did. Not sure if that still holds true but Avid certainly is more than just MC.


-Andrew
 
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