BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Wednesday reported first-quarter net income of $4.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Burlington, Massachusetts-based company said it had net income of 10 cents. Earnings, adjusted to extinguish debt and for stock option expense, came to 28 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The audio and video technology company posted revenue of $94.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $90.8 million.

For the current quarter ending in July, Avid expects its per-share earnings to range from 19 cents to 27 cents.

The company said it expects revenue in the range of $88.5 million to $94.5 million for the fiscal second quarter.

Avid expects full-year earnings in the range of $1.05 to $1.27 per share, with revenue ranging from $382 million to $402 million.

Avid shares have climbed 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.71, more than tripling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVID at https://www.zacks.com/ap/AVID