SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Dolby Laboratories Inc. (DLB) on Thursday reported fiscal third-quarter net income of $28.6 million.
On a per-share basis, the San Francisco-based company said it had net income of 30 cents. Earnings, adjusted for one-time gains and costs, were 69 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $305 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $313.8 million.
For the current quarter ending in September, Dolby Laboratories expects its per-share earnings to range from $1.13 to $1.28.
The company said it expects revenue in the range of $362 million to $392 million for the fiscal fourth quarter.
Dolby Laboratories expects full-year earnings in the range of $4.25 to $4.40 per share, with revenue ranging from $1.41 billion to $1.44 billion.
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