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Dolby Laboratories, Inc. (DLB)

- NYSE
  • Wed, Apr. 22, 12:15 PM
    • In addition to beating FQ2 estimates, Dolby (NYSE:DLB) is maintaining FY15  (ends Sep. '15) revenue guidance of $970M-$1B (consensus is at $982.9M) in spite of forex and PC pressures. GAAP operating expense guidance has been cut by $4M to $660M-$670M.
    • FQ3 guidance is slightly soft at the midpoints: Revenue of $230M-$240M and EPS of $0.27-$0.33 vs. a consensus of $237.1M and $0.32. Non-GAAP EPS guidance (not used for consensus) is at $0.43-$0.49.
    • FQ2 licensing revenue fell 6% Y/Y to $243.3M, but product revenue rose 58% to $23M. Services revenue rose 4% to $5.6M.
    • On its CC (transcript), the audio tech provider noted mobile licensing revenue fell 19% Q/Q and 14% Y/Y due to payment timings for a contract. PC licensing rose 14% Q/Q (also due to timings) and fell 2% Y/Y; consumer electronics was up 22% Q/Q (seasonality) and 8% Y/Y ("higher volume in certain products such as sound bars offset partially by lower revenue from Blue Ray and DVD"). Other products were up 34% Q/Q (seasonality) and 14% Y/Y (Dolby Voice and Via licensing growth).
    • Gross margin was at 92%, and operating expenses rose 4% Y/Y to $168.2M. $15M was spent on buybacks.
    • JPMorgan has responded to the numbers by upgrading to Overweight, and hiking its target by $9 to $48.
    • FQ2 results, PR
    | Comment!
  • Tue, Apr. 21, 4:31 PM
    • Dolby Laboratories (NYSE:DLB): FQ2 EPS of $0.56 beats by $0.08.
    • Revenue of $271.9M (-2.4% Y/Y) beats by $6.44M.
    • Shares +2.3%.
    • Press Release
    | Comment!
  • Mon, Apr. 20, 5:35 PM
  • Wed, Apr. 15, 10:07 AM
    • Disney (NYSE:DIS) will use its upcoming releases Tomorrowland and Inside Out to premiere Dolby Vision, Dolby's (NYSE:DLB) latest video standard offering a greater range of colors.
    • Dolby's offering promises a wider color gamut regardless of how many pixels of resolution a display screen has. The film will show at Dolby Cinema locations featuring the new video technology and Dolby Atmos sound.
    • Disney has hopes that Tomorrowland -- directed by Brad Bird, veteran of the company's The Incredibles and Ratatouille -- can provide a new franchise to go along with its roster of film franchises including Marvel and Star Wars.
    • A previous film in the Disney stable, Pixar's Brave, served as the 2012 debut of Dolby's Atmos sound system.
    | 2 Comments
  • Wed, Apr. 15, 9:56 AM
    • Disney (NYSE:DIS) will use its upcoming releases Tomorrowland and Inside Out to premiere Dolby Vision, Dolby's (NYSE:DLB) latest video standard offering a greater range of colors.
    • Dolby's offering promises a wider color gamut regardless of how many pixels of resolution a display screen has. The film will show at Dolby Cinema locations featuring the new video technology and Dolby Atmos sound.
    • Disney has hopes that Tomorrowland -- directed by Brad Bird, veteran of the company's The Incredibles and Ratatouille -- can provide a new franchise to go along with its roster of film franchises including Marvel and Star Wars.
    • A previous film in the Disney stable, Pixar's Brave, served as the 2012 debut of Dolby's Atmos sound system.
    | Comment!
  • Thu, Apr. 9, 10:08 AM
    • AMC Theatres and Dolby Laboratories will partner to create the Dolby Cinema at AMC Prime premium moviegoing experience.
    • AMC says it will have four of the set up in major cities by the middle of May and is shooting for 50 installations by the end of 2018.
    • Laser projection, vibrating seats, and next-gen Dolby sound are all part of the premium format.
    • Premium seating has helped prop up box office and in-theater spending numbers this year
    • AMC Entertainment (NYSE:AMC) and Dolby Laboratories (NYSE:DLB) are the parent companies on the initiative.
    | Comment!
  • Thu, Apr. 2, 9:25 AM
    • IMAX (NYSE:IMAX) is creating a lot of buzz this week after it announced it will unveil its new laser projection system at the Furious 7 premiere in Hollywood.
    • The new laser theater feature from the company puts it in competition with an upcoming laser projection system from Dolby (NYSE:DLB) as part of its Dolby Cinema brand.
    • Shares of IMAX could get a push today after Macquarie initiated coverage on the stock with an Outperform rating and $39 price target.
    • Previously: IMAX has big plans for Furious 7 (Apr. 01 2015)
    | Comment!
  • Tue, Mar. 31, 10:38 AM
    • Pitched as a cheaper alternative to the Surface Pro 3 (starts at $799, launched last May), Microsoft's (MSFT -0.6%) Surface 3 tablet starts at $499 and eschews the Pro 3's Core i3/i5/i7 CPUs in favor of Intel's (NASDAQ:INTC) less powerful/recently-launched Atom x7 (Cherry Trail). Its display is smaller (10.8" vs. 12"), and resolution slightly lower (1920x1280 vs. 2160x1440). In what might be the final nail in the coffin for Windows RT, the tablet runs on Windows 8.1 (free upgrade to Windows 10 later this year).
    • The Surface 3 weighs just 1.37 lbs. and is only 0.34" thick (the Pro 3 is at 1.76 lbs. and 0.37"), and goes without its costlier sibling's fan. The rear and front cameras respectively have 8MP and 3.5MP resolutions vs. 5MP apiece for the Pro 3. Other features - a kickstand, optional type cover accessories, a business-friendly 3:2 aspect ratio, stereo speakers with Dolby (DLB -0.2%) audio support - are similar.
    • Microsoft claims 10 hours of battery life when playing video. The Surface 3 begins shipping on May 5 (pre-orders start today); Verizon and T-Mobile will sell 4G-capable models later this year. To win over consumers, Microsoft is throwing in a free year of Office 365 Personal (normally $70/year).
    • Following a rough start in 2012/2013, the Surface line has gained a following among businesses and consumers wanting a tablet that can double as a PC/productivity device. Microsoft's Surface revenue rose 24% Y/Y in calendar Q4 to $1.1B. IDC estimates Windows devices had a 5.1% 2014 tablet unit share via 11.6M shipments.
    | 54 Comments
  • Tue, Feb. 17, 11:29 AM
    • Movie theater stocks are out-performing broad indexes on a down market day.
    • A sizzling box office weekend for Fifty Shades of Grey could be the impetus.
    • Earlier this year, American Sniper gave the sector an unexpected traffic boost.
    • The YTD box is well-ahead of last year's pace with the biggest releases still to come.
    • Reading International (NASDAQ:RDI) +0.9%, Marcus Corporation (NYSE:MCS) +0.4%, Carmike Cinemas (NASDAQ:CKEC) +0.5%, Regal Entertainment (NYSE:RGC) +0.3%, Cinemark Holdings (NYSE:CNK) +0.2%, Dolby (NYSE:DLB) +0.4%, RealD (NYSE:RLD) +0.3%, AMC Entertainment (NYSE:AMC) flat on the day. IMAX (NYSE:IMAX) is -2.0% after taking on a Canaccord Genuity downgrade.
    • Previously: American Sniper crushes again at the box office (Jan. 26 2015)
    • Previously: 'Fifty Shades' sets records
    | Comment!
  • Wed, Jan. 21, 5:47 PM
    • Though Dolby (NYSE:DLB) missed FQ1 revenue estimates (while beating EPS forecasts), it's guiding for FY15 (ends Sep. '15) revenue of $970M-$1B, in-line with a $984.9M consensus.
    • FQ2 guidance is for revenue of $260M-$270M (in-line with a $267.7M consensus) and EPS of $0.60-$0.66 (above a $0.53 consensus).
    • Licensing revenue rose 5% Y/Y in FQ1 to $216.6M. Product revenue fell 27% to $13.3M, and services revenue 42% to $4.4M. GAAP opex rose 8% to $161.3M.
    • FQ1 results, PR
    | Comment!
  • Wed, Jan. 21, 4:12 PM
    • Dolby Laboratories (NYSE:DLB): FQ1 EPS of $0.56 beats by $0.18.
    • Revenue of $234.2M (+1.3% Y/Y) misses by $5.27M.
    • Shares +2.21%.
    • Press Release
    | Comment!
  • Tue, Jan. 20, 5:35 PM
  • Tue, Jan. 6, 12:18 PM
    • Dolby Laboratories (NYSE:DLB) will report FQ1 results on Jan. 21  after the market closes.
    • The conference call is scheduled to begin at 5.00 p.m. ET.
    • Consensus view is EPS of $0.38 on revenues of $239.47M.
    | Comment!
  • Fri, Jan. 2, 5:44 PM
    • Dolby's (NYSE:DLB) High Dynamic Range (HDR) video tech "could be at the threshold of large-scale adoption," writes JPMorgan's Paul Coster in a CES preview note. He sees the adoption of Dolby Vision by the SMPTE (a key video standards body) acting as a catalyst for HDR uptake, thereby opening up a major new licensing opportunity for the audio tech leader.
    • He also thinks Synaptics (NASDAQ:SYNA), which fell 6.7% today thanks to a Pac Crest downgrade tied to a possible Galaxy S6 socket loss, could outperform through CES. Coster assigns "a high probability" of Synaptics' fingerprint sensors "being introduced on one or more new smartphones, with the possibility that we will see the first example of area-touch fingerprint recognition."
    • Coster offers more subdued remarks about Logitech (NASDAQ:LOGI): He thinks the mobile speaker and tablet keyboard/case markets (deemed Logitech's growth categories) are "crowded with competition," and that the tablet market is rapidly fragmenting.
    • The iPad, which Logitech's tablet accessory sales remain heavily tied to, saw its unit share fall to 22.8% in Q3 (per IDC). Logitech's mobile speaker sales rose 143% Y/Y in calendar Q3 to $48.5M, while its tablets & other accessories sales fell 19% to $28.2M.
    • Earlier: Coster expects strong CES showing from GoPro
    | 1 Comment
  • Oct. 23, 2014, 4:19 PM
    • Dolby Laboratories (NYSE:DLB): FQ4 EPS of $0.58 beats by $0.12.
    • Revenue of $227M (+4.8% Y/Y) beats by $10.3M.
    • Press Release
    | Comment!
  • Oct. 22, 2014, 5:35 PM
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Company Description
Dolby Laboratories Incdevelops audio, video and voice technologies that transform entertainment and communications in mobile devices, at the cinema, at home and at work.