SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Thursday reported fiscal fourth-quarter profit of $43.9 million.
The San Francisco-based company said it had net income of 43 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $298.8 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $297.5 million.
For the year, the company reported profit of $255.2 million, or $2.44 per share. Revenue was reported as $1.24 billion.
For the current quarter ending in January, Dolby Laboratories expects its per-share earnings to range from 45 cents to 51 cents.
The company said it expects revenue in the range of $275 million to $295 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $328.4 million.
Dolby Laboratories expects full-year earnings in the range of $3.40 to $3.50 per share, with revenue ranging from $1.3 billion to $1.35 billion.
Dolby Laboratories shares have risen 6% since the beginning of the year. The stock has declined almost 4% in the last 12 months.