Avid Technology Inc. of Burlington said today it is postponing its fourth quarter 2012 earnings release and investor conference call, previously scheduled for tomorrow.
The digital audio and video technology maker said the company needs additional time “to evaluate its current and historical accounting treatment related to bug fixes, upgrades and enhancements to certain products which the company has provided to certain customers.”
“The need to evaluate the accounting treatment arose during the company’s normal review of its financial results for the fourth quarter and full year 2012,” Avid said in a statement. “The company is working diligently to complete its evaluation, but is currently unable to estimate when the evaluation will be completed.”
In July, Avid said it would lay off about 20 percent of its permanent employee base as the company “streamlines operations” and sells various product lines.
