SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Dolby Laboratories Inc. (DLB) on Tuesday reported fiscal fourth-quarter profit of $58.6 million.
The San Francisco-based company said it had profit of 61 cents per share. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $304.8 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $305.8 million.
For the year, the company reported profit of $261.8 million, or $2.69 per share. Revenue was reported as $1.27 billion.
For the current quarter ending in December, Dolby Laboratories expects its per-share earnings to range from 96 cents to $1.11.
The company said it expects revenue in the range of $330 million to $360 million for the fiscal first quarter.
Dolby Laboratories expects full-year earnings in the range of $3.99 to $4.14 per share, with revenue ranging from $1.33 billion to $1.39 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLB at https://www.zacks.com/ap/DLB
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