Dolby Laboratories Announces Earnings Results for the First Quarter of Fiscal Year 2015; Provides Earnings Guidance for the Second Quarter and Full Fiscal Year 2015
January 22, 2015 at 02:47 am IST
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Dolby Laboratories announced earnings results for the first quarter of fiscal year 2015. For the quarter, the company's non-GAAP EPS were $0.56. Sales were $234.238 million. Operating income was $53.5 million on a GAAP basis or 22.9% of revenue and $76.1 million on a non-GAAP basis or 32.5% revenue. Net income was $41.4 million on a GAAP basis or 17.7% of revenue and was $58.5 million on a non-GAAP basis or 25% of revenue. Diluted earnings per share were $0.40 on a GAAP basis compared to $0.44 in the fourth quarter and $0.43 in first quarter of last year. And on a non-GAAP basis, diluted earnings per share were $0.56 compared to $0.58 in fourth quarter and $0.59 in first quarter of last year.
For fiscal year 2015, sales are seen between $970 million to $1 billion, in line with forecasts for $984.90 million. Operating expenses are estimated to range from $664 million to $674 million on a GAAP basis and from $585 million to $595 million on a non-GAAP basis. Gross margins on a non-GAAP basis will range from 89% to 90% with non-GAAP gross margins. Effective tax rate for the year is estimated to range from 24% to 26%.
For the second quarter of fiscal year 2015, the company expects sales of between $260 million to $270 million and non-GAAP EPS of between $0.60 and $0.66. Gross margin in the second quarter is estimated to range from 90% to 91% on a GAAP basis and 91% to 92% on a non-GAAP basis. Operating expenses in the second quarter are projected to range from $171 million to $175 million on a GAAP basis and from $152 million to $156 million on a non-GAAP basis. Effective tax rate is estimated to range from 25% to 26% on both the GAAP and non-GAAP basis. Diluted earnings per share are projected to range from $0.45 to $0.51 on a GAAP basis and from $0.60 to $0.66 on a non-GAAP basis.
Dolby Laboratories, Inc. is engaged in designing and manufacturing of audio and imaging hardware and software products for the cinema, television, broadcast and entertainment industries. The Company's products are used in content creation, distribution and playback to enhance image and sound quality and improve transmission and playback. Its cinema imaging products include digital cinema servers used to load, store, decrypt, decode, watermark, and playback digital film files for presentation on digital cinema projectors and software used to encrypt, encode and package digital media files for distribution. Its cinema audio products include cinema processors, amplifiers and loudspeakers used to decode, render, and optimally play back digital cinema soundtracks, including those using Dolby Atmos. The Company's other products include three dimensional glasses and kits, broadcast hardware and software. Its technology includes Dolby Atmos, Dolby TrueHD, Dolby Vision and Dolby Digital Plus.
Dolby Laboratories Announces Earnings Results for the First Quarter of Fiscal Year 2015; Provides Earnings Guidance for the Second Quarter and Full Fiscal Year 2015