DTS Q1 Profit Tops Estimates

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DTS Inc.
DTSI
reported better-than-expected earnings for the first quarter. The Calabasas, California-based company posted a quarterly profit of $1.1 million, or $0.06 per share, compared to $14.3 million, or $0.81 per share, in the year-ago quarter. Excluding one-time items, the company's earnings declined to $0.27 per share from $0.36 per share. Its revenue slipped to $33.9 million, from $36.8 million in the year-ago period. However, analysts were expecting earnings of $0.26 per share on revenue of $34.44 million. Non-GAAP operating margin shrank to 21 percent from 24 percent. The company closed the quarter with $104.8 million in cash and investments. "We had a good start to the year and made important strategic progress during the first quarter. We added Spotify to the Play-Fi(R) ecosystem, partnered with Primetime Solutions, a premium streaming service provider in Thailand, to deliver Headphone:X(TM) technology to their customer base, and supported the launch of DTS technologies on the Tmall Box, the OTT service run by Alibaba," said Jon Kirchner, chairman and CEO of DTS, Inc. For the full year, DTS projects earnings of $1.65 to $1.75 per share, on revenue of $148 million to $155 million. DTS shares finished up 1.52 percent at $36.80 during regular trading hours.
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Posted In: EarningsNewsprofit
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