Dolby Beats Expectations in Fiscal Q2

Posted by Joe Zaller
Apr 30 2013

Dolby announced that its revenue for the second quarter of fiscal year (FY) 2013 was $249.3m, down 5% versus the same period a year ago.

Second quarter FY 2013 GAAP net income was $61.9m, or $0.60 per share, down 30% from $88.1m, or $0.81 per share, last year.

Non-GAAP net income in for the quarter was $76.4m, or $0.74 per share, down from $99.2m, or $0.91 per share, last year.

Despite the lower year-over-year revenue and earnings, the company’s performance significantly exceeded the expectations of analysts, and sent its shares higher.

“In the second quarter, we continued to grow our presence in the broadcast and mobile markets,” said Dolby president & CEO Kevin Yeaman. “In addition, key partners endorsed our newest technologies. BT unveiled the first business conferencing service with Dolby Voice, and James Cameron and Vince Pace’s Cameron Pace Group is backing our Dolby glasses-free 3D format.”

 

Financial Outlook

Dolby says it anticipates total FY Q3 revenue to be in the range of $205m to $215m, with gross margins of approximately 89% on a GAAP basis and 90% on a non-GAAP basis.

The company anticipates that FY Q3 operating expenses will be approximately $145m on a GAAP basis and $125m on a non-GAAP basis.

Fiscal Q3 EPS is expected to be between $0.26 and $0.32 on a GAAP basis and between $0.42 and $0.49 on a non-GAAP basis.

For the full year FY 2013 Dolby now anticipates that total revenue will be in the range of $910m to $940m, and that operating expenses will be approximately $572m on a GAAP basis and approximately $500m or less on a non-GAAP basis.

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Related Content:

Press Release: Dolby Laboratories Reports Second Quarter Fiscal 2013 Financial Results

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