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Technology Stocks : Avid Technology
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To: BMcV who wrote (662)2/5/1999 8:33:00 AM
From: BMcV   of 777
 
Today's Boston Globe has no story on the spectacular earnings, but it does have this:

"AVID TECHNOLOGY MAY ADJUST QUARTERLY INCOME. Avid Technology of Tewksbury reported earnings and said the company is evaluating whether to adjust a third-quarter pretax charge of $193.7 million from the Softimage acquisition. The company said it might adjust the third-quarter charge to comply with the SEC's recent views of how to account for acquired in-process R&D. The company is discussing the possible change with its independent auditors. Avid added that any adjustment won't hurt the company's financial condition or liquidity. The change would likely result in a significantly lower third-quarter charge and the creation of goodwill that would be amortized beginning in the third quarter."

So much for the hometown advantage.
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