Avid Technology revealed better than expected financial results for its fourth trading quarter, hitting or exceeding all of its predicted sales metrics.

The company also announced that its efficiency programme had reduced operating expenses by 29% year-on-year and that it has added 29% more enterprise users to its MediaCentral platform, taking the total number to 42,700.

Avid chief executive Louis Hernandez, Jr (pictured) said: “This performance included a rebound in storage, an improvement in Orad applications and continued growth of cloud-enabled subscribers and digital sales.”