Burlington-based Avid Technology Inc. fell after it projected a wider loss and drop in revenue for the third quarter. For the period, Avid said it expects a loss of between $17 million and $19 million, compared with a loss of $7.6 million in the same quarter last year. Excluding $14 million in one-time charges, the maker of equipment and software for recording music and video said it expects the recent quarter’s adjusted loss to total between $3 million and $5 million. Revenue is expected to total between $125 million and $127 million, down from $164.7 million a year ago.
Avid turns down on projection
Globe wires October 23, 2012
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