Dolby Laboratories, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 27, 2015; Provides Earnings Guidance for the Third Quarter and Fiscal Year 2015
Apr 21 15
Dolby Laboratories, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended March 27, 2015. Second quarter GAAP net income attributable to Dolby Laboratories, Inc. was $57.974 million, or $0.56 per diluted share, compared to $75.868 million, or $0.73 per diluted share, for the second quarter of fiscal 2014. On a non-GAAP basis, second quarter net income was $74.9 million, or $0.72 per diluted share, compared to $91.7 million, or $0.88 per diluted share, for the second quarter of fiscal 2014. Total revenue was $271,950,000 against $278,592,000 a year ago. Operating income was $78,607,000 against $104,918,000 a year ago. Income before income taxes was $79,885,000 against $102,922,000 a year ago. Net cash provided by operating activities $164,028,000 against $102,138,000 a year ago. Purchases of property, plant and equipment was $46,363,000 against $8,905,000 a year ago. Purchase of intangible assets was $12,400,000 against $6,416,000 a year ago. Non-GAAP net income was $74.9 million or $0.72 per diluted share against $91.7 million or $0.88 per diluted share a year ago.
For the six months, total revenue was $506,188,000 against $509,869,000 a year ago. Operating income was $132,146,000 against $164,848,000 a year ago. Income before income taxes was $134,201,000 against $163,623,000 a year ago. Net income attributable to Dolby Laboratories, Inc. was $99,331,000 or $0.95 per diluted share against $120,383,000 or $1.16 per diluted share a year ago. Net cash provided by operating activities $167,473,000 against $179,420,000 a year ago. Purchases of property, plant and equipment was $68,024,000 against $17,872,000 a year ago. Purchase of intangible assets was $12,400,000 against $6,416,000 a year ago.
For the third quarter, the company estimates that total revenue will range from $230 million to $240 million. Gross margin percentages are projected to range between approximately 89% and 90% on a GAAP basis and between 90% and 91% on a non-GAAP basis. It estimates diluted earnings per share to be between $0.27 and $0.33 on a GAAP basis and between $0.43 and $0.49 on a non-GAAP basis. It estimates that its fiscal Third Quarter 2015 effective tax rate will be approximately 26% on both a GAAP and non-GAAP basis. Amortization of acquired intangibles is expected to be $0.04 per diluted share.
For fiscal year 2015, the company anticipates that total revenue will range from $970 million to $1 billion. The effective tax rate for the year is estimated to range from 25% to 26%. It estimates that full year gross margins on a GAAP basis will range from 89% to 90% with non-GAAP gross margins about a point higher.
Dolby Laboratories, Inc. Announces Cash Dividend, Payable on May 12, 2015
Apr 21 15
Dolby Laboratories, Inc. announced a cash dividend of $0.10 per share of Class A and Class B common stock, payable on May 12, 2015, to stockholders of record as of the close of business on May 4, 2015.
Dolby Laboratories, Inc. Announces Partnership with VUDU
Apr 13 15
Dolby Laboratories, Inc. announced a partnership with VIZIO to bring Dolby Vision to the consumer market through the VIZIO. Reference Series 65" and 120" Ultra HD Full-Array LED Smart TVs. With an initial slate of Warner Bros. 4K Ultra HD Dolby Vision titles confirmed for distribution via VUDU, Walmart's video on demand service, combined with play back capabilities on the VIZIO Reference Series, consumers will be able to experience the power of Dolby Vision in their living room. Dolby Vision breathes life into images by providing viewers with peak brightness, local contrast, and a full range of colors that more closely mimic what the human eye can see. The technology combines a wider color gamut and high dynamic range, to revolutionize the viewing experience both in cinema and on TV. Dolby Vision augments the fidelity of UHD and HD video signals for over-the-top (OTT) online streaming, broadcast, and gaming applications. With Dolby Vision, content is much more nuanced, powerful, and distinct: sunsets sinking deep into the horizon, bursts of fire and explosions, and the darkest shadows are pronounced to provide a strikingly vivid and realistic imaging experience like no other. As the first-ever High Dynamic Range-enabled Ultra HD TV, the VIZIO Reference Series was built pixel-by-pixel, pushing the boundaries of brightness, color and contrast with Dolby Vision. The new VM50 Ultra HD engine, a dedicated Ultra HD motion and picture-processing engine, provides enhanced clarity in every Ultra HD image. Unlike most TVs, which can only reproduce a limited color gamut of Rec 709 - a standard that has been in place since 1990 - the VIZIO Reference Series features an Ultra-Color Spectrum which widens the color gamut; rendering colors closer to what the human eye can see, something never before possible on a home TV screen. To deliver Dolby Vision content in 4K Ultra HD, Dolby has partnered with VUDU, Walmart's video on demand service for movies and television, and one of the pioneers of high definition digital movies and TV.
Dolby Laboratories, Inc. to Report Q2, 2015 Results on Apr 21, 2015
Apr 10 15
Dolby Laboratories, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Apr 21, 2015