Dolby Laboratories Reports Second Quarter Fiscal
April 29, 2010 04:08 PM Eastern Daylight Time
SAN FRANCISCO--(EON: Enhanced Online News)--Dolby Laboratories, Inc. (NYSE:DLB) today announced
the Company's financial results for its second quarter of fiscal 2010.
For the second quarter, Dolby reported total revenue of $243.4 million, compared to $204.1 million for the second
quarter of fiscal 2009, an increase of 19 percent.
Second quarter GAAP net income was $85.9 million, or $0.74 per diluted share, compared to $69.5 million, or
$0.60 per diluted share, for the second quarter of fiscal 2009. On a non-GAAP basis, second quarter net income
was $93.1 million, or $0.80 per diluted share, compared to $76.1 million, or $0.66 per diluted share, for the second
quarter of fiscal 2009. Dolby’s non-GAAP measures exclude expenses related to stock-based compensation, the
amortization of intangibles from business combinations, restructuring charges, a gain from an amended patent
licensing agreement, and the related tax impact of these items.
“We had a strong second quarter,” said Kevin Yeaman, President and Chief Executive Officer, Dolby Laboratories.
“We continued to benefit from the inclusion of our technologies in many of the world’s most popular entertainment
devices while making significant progress in our mobile initiative. This week Nokia announced that it will begin
adopting Dolby Digital Plus in certain handset models.”
For fiscal 2010, Dolby is now targeting revenue of $865 million to $895 million, total gross margin of approximately
86 percent on a GAAP basis, and 87 percent on a non-GAAP basis. In addition, Dolby is now targeting fiscal 2010
operating expenses of $350 million to $362 million on a GAAP basis and $315 million to $325 million on a non-
GAAP basis, and a tax rate of approximately 35 percent on a GAAP basis and non-GAAP basis. Dolby’s non-
GAAP targets exclude expenses related to stock-based compensation, the amortization of intangibles from