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Dolby Revenue, Net Up In Q2

4/30/2014 04:59:00 AM Eastern

San Francisco — Dolby Laboratories revenues grew more than the company expected in the second quarter, rising 11.7 percent to $278.6 million.

The gain offset a first-quarter revenue decline to push up first-half sales up by 4.9 percent to $509.9 million.

Net income rose 22.5 percent to $75.9 million in the second quarter, ended March 28, and first-half net income rose 6.3 percent to $120.4 million.

Operating income rose in the quarter by 24.6 percent to $104.9 million, and first-half operating income was up 9 percent to $164.9 million.

President/CEO Kevin Yeaman said the company’s broadcast business “continues to outperform,” and the company is befitting from the use of its technologies in PlayStation 4, Xbox One and Amazon’s Fire TV.

In the first quarter, revenues fell 2.3 percent to $231.1 million, and net income was down 13.3 percent to $44.5 million.

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