Dolby Laboratories Reports Financial Results for Third Quarter of Fiscal Year 2005.
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Dolby Laboratories Reports Financial Results for Third Quarter of Fiscal Year 2005.
SAN FRANCISCO -- Dolby Laboratories (NYSE:DLB) today announced the Company's financial results for the third quarter of fiscal 2005 ended July 1, 2005. For the third quarter, Dolby reported total revenue of $79.7 million, compared to $76.1 million for the third quarter of fiscal 2004, an increase of 5%. Third quarter net income was $14.8 million, or $0.13 per diluted share, compared to $12.0 million, or $0.13 per diluted share, in the same period a year ago. Per share calculations are based on 112.8 million diluted shares in the third quarter of fiscal 2005 compared with 95.3 million diluted shares in the comparable year-ago quarter. The increase in shares is principally attributable to the shares sold by the Company in its February 2005 initial public offering (IPO).
In connection with the Company's IPO, Ray Dolby contributed to the Company all of his intellectual property rights related to the Company's business, which he had previously licensed to the Company in exchange for royalty payments. As a result of the contribution, the C...See the full content of this document
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