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Technology Stocks : Avid Technology
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To: BMcV who wrote (689)4/18/1999 2:10:00 PM
From: Amabile  Read Replies (1) of 777
 
Sad, but probably true, that AVID will trade more in line with reported earnings (much reduced by amortization
of goodwill) instead of actual operating earnings or cash flow. I anticipate that AVID will continue to report
both earnings before and after this noncash charge, but it always looks a little dodgy when companies fiddle too
much with their reports.....

We will just have to see how this plays out but I don't believe that AVID will continue to trade in line with reported earnings. The accounting change was designed to show the real cash earnings of companies who are growing, and acquiring, and who have, in the past suffered in earnings for non-cash charges. Todays investors are becoming more astute, and more informed, with all the present sources of information and will come to consider AVID's cash generation and growth. I'd guess now that we will see AVID around $35 in the fall.
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