U.S. Markets closed

Dolby Laboratories: Fiscal 3Q Earnings Snapshot

SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Thursday reported fiscal third-quarter net income of $39.6 million.

On a per-share basis, the San Francisco-based company said it had net income of 38 cents.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The creator and licensor of audio, video and voice technologies posted revenue of $302.2 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $305.1 million.

For the current quarter ending in September, Dolby Laboratories expects its per-share earnings to range from 62 cents to 68 cents.

The company said it expects revenue in the range of $288 million to $308 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $316.2 million.

Dolby Laboratories expects full-year revenue in the range of $1.23 billion to $1.25 billion.

Dolby Laboratories shares have risen 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $68.08, an increase of 6% in the last 12 months.

_____

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