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
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
Wed, Jan. 21, 4:12 PM| Comment!
Tue, Jan. 20, 5:35 PM
Tue, Jan. 6, 12:18 PM| 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
Oct. 23, 2014, 4:19 PM| Comment!
Oct. 22, 2014, 5:35 PM
- ADES, ALGN, ALTR, AMZN, BAS, BJRI, BLDR, BMRN, CB, CBI, CERN, CLMS, CLNE, CNMD, CPWR, CTCT, CYN, DECK, DLB, DV, ECHO, ELY, EW, FET, FII, FLS, FSL, GHL, GIMO, HBHC, HUBG, HWAY, IM, INFA, JNPR, KLAC, LOGM, LSCC, MSFT, MTSN, MXIM, MXWL, N, NCR, NTGR, OLN, P, PACB, PCCC, PDFS, PEB, PFG, PFPT, POL, QLIK, RMD, RUBI, RVBD, SHOR, SIVB, SPNC, SRCL, SWFT, SWN, SYNA, VMI, VRSN, WOOF, WRB, WRE, WRI
Aug. 20, 2014, 6:25 PM
- Dolby (DLB -0.1%) plans to bring versions of its high-end Atmos cinema audio platform to to home theaters and mobile devices; products supporting the technology are due later this year.
- Atmos improves upon Dolby's older cinema audio offerings by providing "layers" of audio elements that (per the company) "can be positioned and moved precisely to correspond to the images onscreen." Atmos systems also rely on metadata to record how the elements behave during playback.
- FastCompany's Harry McCracken, after seeing a movie clip supporting Atmos: "The versions played over the theater-grade Atmos system in Dolby's screening room were by far the gold standard. But the in-home and mobile ones sounded impressive, given the constraints they were working with."
- Dolby mentioned on its FQ3 CC (transcript) Atmos commitments have been received for ~640 screens, and that the technology has been installed on over 540. ~110 of the installed screens are in China.
Jul. 25, 2014, 2:23 PM
- Dolby (DLB +3%) expects FQ4 revenue of $210M-$220M and GAAP EPS of $0.28-$0.33, below a consensus of $223.1M and $0.34. But with a strong FQ3 revenue beat in tow, the top-line outlook translates into revenue of $945M-$955M, above a $941.6M consensus.
- The FQ3 beat was fueled by a 25% Y/Y increase in broadcast licensing revenue (43% of total licensing), and a 20% increase in mobile licensing (13% of total). The broadcast growth is attributed to higher TV tax rates, higher set-top units, and back payments. The mobile growth stems from higher tablet units and smartphone design wins.
- PC licensing revenue (19% of total) fell 2% due to industry weakness, and consumer electronics rose slightly, with DVD/Blu-ray player declines offset by growth in other segments. Product/services revenue (8% of total revenue) fell 21%.
- On its FQ3 CC (transcript), Dolby attributes the light Q4 guidance to expectations of a 5%-6% drop in PC licensing revenue, and a 20%-25% drop in mobile licensing. The latter could be due to slumping revenue from Samsung. The company disclosed earlier this year Dolby Digital wasn't built into the Galaxy S5 (unlike the S4).
- $29M was spent on buybacks in FQ3. Opex rose 6% Y/Y to $153.9M.
- FQ3 results, PR
Jul. 24, 2014, 4:07 PM| Comment!
Jul. 23, 2014, 5:35 PM
- ABAX, ACTG, ALGN, ALTR, AMZN, ATRC, AWAY, BAS, BCOV, BCR, BIDU, BJRI, BLDR, CB, CBI, CERN, CLS, COLM, CTCT, CYN, DECK, DGII, DLB, DTLK, ECHO, ELY, EPR, FET, FICO, FII, FLEX, FSL, GIMO, HBHC, IM, INFA, KLAC, LEG, LOGM, LSCC, MITK, MKTO, MLNX, MSCC, MTD, MTSN, MXIM, N, NR, NTGR, OLN, P, PACB, PEB, PFG, PFPT, QLGC, QLIK, RFMD, RGA, RGC, RSG, RVBD, SBAC, SBUX, SIVB, SPNC, SRCL, SWFT, SWI, SYA, TPX, TSRO, UHS, V, VR, VRSN, WOOF, WRE, WRI
Apr. 29, 2014, 5:13 PM
- CRAY still expects 2014 revenue of $600M, of which only $75M will be in Q2 (below a $95.9M consensus). Full-year gross margin is still expected to be in the mid-30s. Shares -2.1% AH. (Q1 results, PR)
- Dolby (DLB) expects FQ3 revenue of $205M-$215M and EPS of $0.38-$0.43 vs. a consensus of $216.9M and $0.32. FY14 (ends in September) guidance is for revenue of $930M-$950M, above a $921.8M consensus. Shares +1.3% AH. (FQ2 results, PR)
- SolarWinds (SWI) expects Q2 revenue of $96.5M-$98.5M and EPS of $0.35-$0.37, below a consensus of $98.8M and $0.38. Full-year guidance is better: revenue of $409M-$421M and EPS of $1.60-$1.70 vs. a consensus of $415.6M and $1.61. Shares roughly unchanged for now. (Q1 results, PR)
Apr. 29, 2014, 4:22 PM| Comment!
Apr. 28, 2014, 5:35 PM
- ACE, ACHC, ACMP, AEC, AEGN, AFL, ANIK, ARI, AUY, AXS, AZPN, BGFV, BOOM, BXP, CALX, CAP, CEB, CEMP, CHE, CHRW, CLD, CMRE, CNQR, COLM, CRAY, DLB, DNB, DWA, EBAY, EEFT, EIX, EPR, ESRX, EZPW, FARO, FEIC, FISV, GMED, GNW, GPRE, HURN, IPHI, LOGM, MAC, MAR, MEOH, MWA, NANO, NATI, NCR, NDLS, NFX, NUVA, OHI, OI, PNRA, PRXL, REXX, RFMD, RNG, RNR, RPXC, RVBD, SIMG, SKT, SLCA, SM, STR, STX, SWI, TE, THG, TMH, TRLA, TRN, TTS, TWTR, ULTI, USNA, VNR, VPRT, VRSK, WSH, X, XCO.
Feb. 24, 2014, 5:35 PM
- Dolby (DLB -0.9%) is acquiring Doremi Labs, a maker of video playback servers for digital cinemas, for $92.5M in cash + $20M in performance pay-outs.
- Doremi's hardware, which include 4K playback servers, complements Dolby's Atmos audio playback systems for theaters. The company also offers theater management software and post-production/mastering systems.
- Dolby's product sales fell 29% Y/Y in the December quarter to $18.1M (8% of total revenue).
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