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Tuesday, May 30, 2023

DTS Looks to Blu-Ray

Audio technology company DTS Inc. remains optimistic that growing sales of Blu-ray discs will help its business. The Agoura Hills-based company reported net income of $2 million, or $0.11 per diluted share, on revenues of $14 million for the quarter ending Sept. 30. For the same period a year ago, DTS reported a net loss of $1.1 million, or $0.06 per diluted share, on revenues of $10.7 million. Third quarter revenues included $1.6 million in royalties. “Overall, we remain cautious about the near-term industry outlook, but we continue to believe in the attractive long-term prospects for the Blu-ray format and for our business,” CEO Jon Kirchner said. With the wider availability of Blu-ray at dropping prices, the company is looking forward to seeing the retail results of the holiday shopping season, Kirchner said. The company is expected to bring in revenues between $55 million to $59 million for the full fiscal year, Kirchner said. Shares of DTS closed up at $17.63.

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