Dolby Laboratories Q4 Profit Rises

(RTTNews) - Dolby Laboratories Inc. (DLB) reported that its fourth quarter GAAP net income rose to $43.9 million or $0.43 per share, from $26.7 million, or $0.25 per share last year. On a non-GAAP basis, fourth quarter net income was $67.6 million or $0.66 per share, compared to $23.5 million, or $0.22 per share in the prior year.

Quarterly total revenue grew to $298.8 million, from $240.6 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share and revenues of $297.55 million for the fourth-quarter. Analysts' estimates typically exclude special items.

For the first quarter of fiscal 2020, the company expects earnings per share to be in the range of $0.27 to $0.33, non-GAAP earnings per share of $0.45 to $0.51 and total revenue of $275 million to $295 million. Analysts expect the company to report earnings of $0.65 per share and revenues of $326.52 million for the first-quarter.

Looking ahead for its fiscal year 2020, the company projects earnings per share to be in the range of $2.64 to $2.74, non-GAAP earnings per share of $3.40 to $3.50 and total revenue of $1.30 billion to $1.35 billion. Wall Street currently is looking for fiscal year 2019 earnings of $2.50 per share on annual revenues of $1.24 billion.