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DTS Income Falls in Q2

Net income earned by audio products manufacturer DTS Inc. dropped by 28 percent during the second quarter when compared with the same period a year ago. The Agoura Hills-based company reported income of $3.6 million or $0.21 per diluted share on revenues of $24.2 million. For the same period a year ago, the company reported a net income of $5 million, or $0.27 per diluted share, on revenues of $12.9 million. For the six month period, DTS had net income of $3.8 million, or $0.22 per diluted share, on revenues of $41.4 million. For the same period in 2008, the company had net income of $6.3 million, or $0.35 per diluted share, on revenues of $28 million. Second quarter results included $6.1 million in expenses related to a lawsuit between DTS and Zoran Corp. over latter’s misuse of DTS technology. The lawsuit was settled in June resulting in a new licensing agreement between the two companies. “With the settlement of litigation matters with Zoran, we have taken another step forward in protecting consumers, our licensees, and our intellectual property, which we expect will contribute to the long-term growth of DTS’ business and the healthy development of the Blu-ray market,” said DTS President and CEO Jon Kirchner. Mark R. Madler

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