Dolby (DLB) Q4 Earnings Beat Estimates, Revenues Miss
Zacks Investment Research | Oct 26, 2017 08:50AM ET
Dolby Laboratories, Inc. (NYSE:DLB) reported fourth-quarter fiscal 2017 adjusted earnings of 45 cents per share, comfortably beating the Zacks Consensus Estimate of 26 cents by 15.0%.
However, the company’s fourth-quarter fiscal 2017 GAAP earnings of 21 cents per share, declined 8.7% year over year. A rise in the cost of revenues as well as higher operating expenses weighed down on the bottom-line performance.
For fiscal 2017, adjusted income was $2.61 per share, indicating a rise of 7.4% from fiscal 2016 levels.
Inside the Headlines
Total revenues of $242 million came within the company’s projected range of $230-$250 million and were up 3.9% on a year-over-year basis. Healthy increase in revenues across the two segments namely, Licensing and Services contributed to the decent rise in the top line. However, revenues missed the Zacks Consensus Estimate of $244.1 million by a whisker.
For fiscal 2017, the company’s top-line grew 5.4% to $1,081.5 million, compared with the tally in fiscal 2016. Revenues also came within the company’s full-year guidance provided previously.
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