Dolby Laboratories (DLB) Tops Q1 EPS by 35c, Offers Guidance

Dolby Laboratories (NYSE: DLB) reported Q1 EPS of $0.79, $0.35 better than the analyst estimate of $0.44. Revenue for the quarter came in at $287.8 million versus the consensus estimate of $265.76 million.

Financial Outlook

Q2 Fiscal 2018

Dolby is providing the following estimates for its second quarter (Q2) of fiscal 2018:

• Total revenue will range from $295 million to $305 million
• Gross margin percentages will be between 88.5 percent and 89.5 percent on a GAAP basis and between 89.5 percent and 90.5 percent on a non-GAAP basis
• Operating expenses will be between $183 million and $187 million on a GAAP basis and between $166 million and $170 million on a non-GAAP basis
• Diluted earnings per share will be between $0.60 and $0.66 on a GAAP basis and between $0.74 and $0.80 on a non-GAAP basis
• Effective tax rate will be between 20 percent and 23 percent on both a GAAP and non-GAAP basis

Fiscal Year 2018

Dolby is providing the following estimates for its fiscal 2018:

• Total revenue will range from $1.15 billion to $1.18 billion
• Gross margin percentages will be between 87.5 percent and 88.5 percent on a GAAP basis and between 88.5 percent and 89.5 percent on a non-GAAP basis
• Operating expenses will range from $727 million to $742 million on a GAAP basis and from $655 million to $670 million on a non-GAAP basis
• The ongoing tax rate for the remainder of fiscal 2018 will be between 20 percent and 23 percent on both a GAAP and non-GAAP basis

(Street sees Q3 EPS of $0.58 on revenue of $290.5 million and FY EPS of $2.22 on revenue of $1.16B)

For earnings history and earnings-related data on Dolby Laboratories (DLB) click here.

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