On Tuesday, Avid Technology, Inc. (NASDAQ:AVID)’s shares declined -28.95% to $8.54.
Avid(R) (AVID) declared that it has released second quarter results and updated its 2015 full year guidance.
Q2 2015 Highlights
- Raised Full Year 2015 Earnings Guidance on substantially raised visibility
- Adjusted EBITDA range raised to $74 to $80 million, up from $72 to $78 million as formerly guided
- Constant dollar bookings range raised to 2% to 6% over 2014, although continued currency pressure could impact actual results by about 4 percentage points
- Adjusted free cash flow range adjusted to $12 to $20 million
- Post-2010 revenue backlog of $489 million reflects 17% year over year enhance.
- Recurring revenue shift accelerating as second quarter bookings for recurring revenue raised 58% over the preceding year, representing 26% of Q2 2015 bookings
- Strong market momentum for new products declared in April 2015 with $17 million in Q2 bookings predictable to be converted to revenue and cash flow in 2ndhalf of 2015
- Cost initiatives on track with opening of new global service centers
- Accomplished the Orad transaction on June 23rd, and integration is on track
- Recognized major milestones in both Platform and Subscription adoption
- Topped 10,000 paid subscribers at end of the quarter, with over 12,000 active paid subscribers as of recently, almost 130% growth since December 2014
Avid Technology, Inc. develops, markets, sells, and supports software and hardware for digital media content production, administration, and distribution in the United States, the other Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers various professional video creative tools, counting Media Composer product line, which is used to edit television programs, commercials, and films; NewsCutter option and iNews systems for news production; and Avid Symphony option that is used during post-production.
Statoil ASA (ADR) (NYSE:STO)’s shares dropped -2.77% to $16.50.
Statoil (STO) delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil stated Net income in accordance with IFRS of NOK 10.1 billion, counting gains from divestments.
Adjusted earnings were NOK 22.4 billion in the second quarter contrast to NOK 32.3 billion in the same period in 2014. The reduction was primarily a consequence of lower oil prices in the second quarter of 2015 contrast to the same period last year. Realised average liquids prices in the quarter were down 28% measured in NOK contrast to the second quarter last year. Adjusted earnings after tax were NOK 7.2 billion, contrast to NOK 9.9 billion in the same period last year.
Statoil’s net income according to IFRS for the second quarter was NOK 10.1 billion, contrast to NOK 12.0 billion in the same period in 2014. The gain from the divestment of the Shah Deniz project and the South Caucasus Pipeline was NOK 12.3 billion, impacting the IFRS results. Earnings per share were NOK 3.15, down from NOK 3.75 in the same period last year.
Statoil ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. The company operates through Development and Production Norway; Development and Production International; Marketing, Processing and Renewable Energy; and Other segments.
At the end of Tuesday’s trade, Honeywell International Inc. (NYSE:HON)‘s shares dipped -1.80% to $105.37.
Gabelli & Company will host its 21st Annual Aircraft Supplier Conference on September 9 in New York City. This research meeting will feature presentations by senior administration of several leading aerospace and defense companies, with an emphasis on industry dynamics, new technologies, and company fundamentals. Institutional investors should contact their sales representative to register.
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers and operators, airlines, military services, and defense and space contractors; and spare parts, and repair and maintenance services for the aftermarket.
FireEye Inc (NASDAQ:FEYE), ended its Tuesday’s trading session with -1.37% loss, and closed at $43.96.
Former FireEye CFO Michael Sheridan Joins DocuSign as Chief Financial Officer. DocuSign, Inc. (DocuSign®) declared that Michael Sheridan has joined the company as Chief Financial Officer. Mike Dinsdale will take on the role of Chief Growth Officer. Both will report to DocuSign Chairman and CEO Keith Krach.
Preceding to his role at FireEye (FEYE), Michael Sheridan served as CFO for several technology companies counting Mimosa Systems (now part of Iron Mountain), Playlist Inc., IGN Entertainment (now part of News Corp.), Facebook and SonicWALL (now part of Dell). He began his career with nine years in public accounting at Arthur Andersen and holds a B.S. in commerce from Santa Clara University.
Mike Dinsdale joined the DocuSign executive team in May of 2010 and has been instrumental in driving DocuSign’s culture, growth and financial success during his tenure. Mike formerly served as CFO at Lithium Technologies and Velocity11. In his new role, Mike will lead Corporate Development, Mergers & Acquisitions, Investment Partnerships and efforts to extend the reach of The DocuSign Global Trust Network.
FireEye, Inc., together with its auxiliaries, provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company offers vector-specific appliance solutions that provide threat protection from network to endpoint for inbound and outbound network traffic that may contain sensitive information. Its threat prevention solutions comprise appliances covering the Web, email, endpoint, file, and mobile threat vectors.
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