Avid 2004 Annual Report Download - page 5

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Net income increased 75%
from 2003 to 2004.
”
“In 2004, Avid achieved
record revenue and
net income through
organic growth and
strategic acquisitions.
02 03 04
$3.0
$40.9
$71.7
Our audio division represented one of the biggest growth areas for Avid, with a better than 40% increase
in revenues over the previous year. One of the highlights was the introduction of the Digidesign®ICON
integrated console environment, a solution that streamlines the recording, editing, processing, and
mixing of audio material for high-end customers.
At the other end of the audio business spectrum, we diversified our portfolio by acquiring M-Audio, a
leading provider of digital audio and MIDI solutions for the home studio market. The addition of M-Audio
to the Avid family represents a strong growth opportunity, since the M-Audio product line complements
Digidesign’s strengths among professionals and “prosumers”—and the combined entity can reach new
customers that we would not otherwise reach as strongly on our own.
For our customers in the 3D animation and digital asset management industries, we introduced the Avid
computer graphics pipeline—an end-to-end solution that combines our SOFTIMAGE®|XSI®3D content
creation software, our Alienbrain®Studio asset management software, and Avid video and film editing,
compositing, and finishing systems. As an integrated pipeline, these products can offer our customers
an environment of industry-leading tools that meet a wide range of budgetaryand content-creation needs.
These successes capped a year in which our tradition of technological innovation was rewarded with
our second Oscar®statuette, representing the 2003 Scientific and Technical Awardfor the design,
development, and implementation of the Digidesign Pro Tools®digital audio workstation. Combined
with our first Oscar statuette—which recognized the concept, design, and engineering of the Avid
Film Composer®system—this achievement makes Avid one of only a handful of companies to be
honored with two Oscar statuettes for technological innovations.
We’re very proud of the results that we achieved in 2004, and our outlook for 2005 is even better with
an aggressive plan for continued growth among all of the customer segments that we serve.
David Krall
President and CEO