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.