Our operating disciplines simply were not good enough to translate great technology and market leadership into profits. Like many start-ups, Avid grew faster than our ability to manage our business. It must result in superior profitability and on that score, 1996 was a bad year.
Market leadership, though, is not enough.
Avid elastic reality software software#
Through a series of acquisitions, Avid has assembled a formidable array of related capabilities-newsroom computer systems from Basys and Softech nonlinear digital audio systems from Digidesign and effects software from Parallax and Elastic Reality. Achieving that sort of brand identity in such a short period of time is a remarkable feat and one that continues to be at the foundation of One can go to virtually any major city in the world and find film and video professionals who describe themselves as "Avid Editors". Avid's name has become synonymous with computer-based nonlinear editing tools. By any measure, that's extraordinary growth. Today we generate more than $400 million in annual revenues. We shipped our first product in late 1989. Today, about one year later, I believe in that promise more than ever.Īvid is a young company with a glorious history. Using our products, customers will be able to develop new ways to entertain, educate and inform. Our mission is to be at the forefront of our industry, providing the world with the most powerful available tools toĬreate audio and video communications. This is a company whoseīusiness is to supply the technology that releases the limits on creativity and allows the user to tell virtually any story with audio and video from high budget Hollywood epics to a child's birthday party. I saw Avid as a company with wonderful technology and a leading position in a market that has almost unlimited potential. About Avid: Financials - Avid Annual Report Avid Technology Inc., 1996 Annual Report
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