Dolby Laboratories, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2017; Provides Earnings Guidance for the Second Quarter and Full Year 2018
January 25, 2018 at 02:45 am IST
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Dolby Laboratories, Inc. reported unaudited consolidated earnings results for the first quarter ended December 29, 2017. For the quarter, the company reported total revenue of $287.797 million against $266.267 million a year ago. Operating income was $82.240 million against $66.067 million a year ago. Income before income taxes was $84.834 million against $67.656 million a year ago. Net loss attributable to the company was $81.622 million or $0.80 per basic and diluted share against net income of $53.374 million or $0.51 per diluted share a year ago. Net cash provided by operating activities was $17.149 million against $70.723 million a year ago. Purchases of PP&E were $19.275 million against $22.576 million a year ago. Purchase of intangible assets was $11,198 million. Non-GAAP net income was $84.1 million or $0.79 per diluted share against $68.7 million or $0.66 per diluted share a year ago.
Q2 Fiscal 2018
For the second quarter of fiscal 2018, the company expects total revenue will range from $295 million to $305 million, gross margin percentages will be between 88.5% and 89.5% on a GAAP basis and between 89.5% and 90.5% on a non-GAAP basis, operating expenses will be between $183 million and $187 million on a GAAP basis and between $166 million and $170 million on a non-GAAP basis, diluted earnings per share will be between $0.60 and $0.66 on a GAAP basis and between $0.74 and $0.80 on a non-GAAP basis and effective tax rate will be between 20% and 23% on both a GAAP and non-GAAP basis.
For the fiscal year 2018, the company expects total revenue will range from $1.15 billion to $1.18 billion, gross margin percentages will be between 87.5% and 88.5% on a GAAP basis and between 88.5% and 89.5% on a non-GAAP basis, operating expenses will range from $727 million to $742 million on a GAAP basis and from $655 million to $670 million on a non-GAAP basis and the ongoing tax rate for the remainder of fiscal 2018 will be between 20% and 23% on both a GAAP and 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, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2017; Provides Earnings Guidance for the Second Quarter and Full Year 2018