A $24 million write-down of its digital cinema and images businesses contributed to DTS Inc. reporting a net loss for the fourth quarter. Market conditions forced the Agoura Hills-based entertainment technology company to lower the value of the assets from the two business units in connection with a future sale. The company is in negotiations for the sale, President and CEO Jon Kirchner said. For the fourth quarter, DTS reported a net loss of $17.9 million, or a loss of $0.99 per diluted share, on revenues of $16.8 million. For the same period in 2006, the company reported a net loss of $5 million, or a loss of $0.27 per diluted share, on revenues of $10.3 million. For fiscal year 2007, DTS reported a net loss of $20.4 million, or a loss of $1.11 per diluted share, on revenues of $53 million. For the 2006 fiscal year, the company had net income of $3 million, or $0.16 per diluted share, on revenues of $50 million. In other news, the company’s board of directors announced a stock repurchase plan of up to one million shares of common stock.
