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Thursday, Feb 29, 2024

DTS Beats Revenue Estimates

Home entertainment audio technology developer DTS Inc. beat analyst estimates on revenue for the first quarter but fell short on earnings per share. The Calabasas-based company reported a net loss of $1.5 million (8 cents a share) for the quarter ending March 31, compared with net income of $4 million (24 cents) in the same period a year earlier. Revenue rose 21.5 percent to $32.7 million. Analyst estimates put revenue at $29.86 million and earnings per share at 14 cents, according to Thomson Financial Network. The company said its revenue growth was due to demand for the company’s network-connected home systems. Shares closed down 25 cents, or 1.47 percent to $16.75 on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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