October 21, 2014, 04:44 AM
We are pleased with our results for the second quarter, which demonstrated continued growth, cost reduction and profitability progress on our three-phase transformation plan. We continue to believe our 2014 Adjusted EBITDA establishes a base on which we can continue to improve. Our updated bookings and free cash flow guidance primarily reflects the inherent variability associated with larger transactions, ” said John Frederick, Executive Vice President, Chief Financial and Administrative Officer of Avid. “ We are also excited to be current with our SEC reporting requirements and have applied for relisting with NASDAQ. We believe we could resume trading on NASDAQ by the end of the year.