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Saturday, Mar 2, 2024

DTS Issues Preliminary Earnings Report

DTS Inc. reported on Wednesday second-quarter earnings that beat analysts’ estimates. The Calabasas audio technology developer reported in a preliminary quarterly filing a loss of $2 million (11 cents a share) for the quarter ending June 30, compared with a loss of $755,000 (5 cents) in the same period a year earlier. Revenue increased 25 percent to $27.2 million. However, on a non-GAAP basis, the company reported earnings of 11 cents a share, exceeding analysts expected non-GAAP earnings of 4 cents a share, according to Thomson Financial Network. The quarterly financials are preliminary because DTS is finalizing accounting related to a royalty recovery matter. The final quarterly statement may result in additional revenue, the company said. DTS technology is incorporated in consumer electronic devices and is used by film studios, broadcasters and game developers to enhance audio and soundtracks, among other applications.

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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