Dolby Laboratories Issues Financial Outlook

(RTTNews) - Dolby Laboratories, Inc. (DLB) estimates that total revenue for the first quarter of fiscal 2017 will range from $250 million to $260 million. Dolby anticipates earnings per share will be between $0.49 and $0.55 on a non-GAAP basis. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.40 on revenue of $254.56 million. Analysts' estimates typically exclude special items.

For fiscal 2017, Dolby anticipates that total revenue will range from $1.06 billion to $1.09 billion. Analysts polled by Thomson Reuters expect the company to report revenue of $1.02 billion.

On a non-GAAP basis, fourth quarter net income was $38.6 million, or $0.37 per diluted share, compared to $44.4 million, or $0.43 per diluted share, for the fourth quarter of fiscal 2015. Dolby reported total revenue of $233.0 million, compared to $232.7 million, prior year.

Dolby announced an increase in quarterly cash dividend to $0.14 per share of Class A and Class B common stock, payable on November 16, 2016, to stockholders of record as of the close of business on November 7, 2016.