Dolby Laboratories Profit Rises, Lifts FY Outlook

(RTTNews) - Video and audio products maker Dolby Laboratories Inc (DLB) Tuesday reported second-quarter net earnings of $76 million or $0.73 per share compared with $62 million or $0.60 per share last year.

Excluding items, adjusted earnings for the quarter were $91.7 million or $0.88 per share compared with $76.4 million or $0.74 per share a year ago.

Revenues for the quarter were higher at $278.6 million compared with $249.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share on revenues of $244.8 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, Dolby projects net earnings of $0.24 to $0.29 per share, adjusted earnings of $0.38 to $0.43 per share and revenues of $205 million to $215 million. Analysts expect earnings of $0.32 per share on revenues of $216.9 million.

For fiscal 2014, Dolby now expects revenue of $930 million to $950 million, up from prior guidance of $910 million to $940 million. Analysts expect revenue of $921.8 million.