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DTS Issues IPO At $17 Per Share

7/17/2003 02:12:00 PM Eastern

Agoura Hills, Calif. - Audio technology company DTS (Digital Theater Systems) launched an IPO earlier this month, putting 3.8 million shares of common stock up for sale at $17 per share. The price jumped to nearly $25 after the first day of trading.

DTS is a digital technology company that licenses its technology to consumer electronics products manufacturers for inclusion in audio/video receivers, DVD players and home theater systems.

DTS Coherent Acoustics — a scalable digital audio architecture suitable to a broad spectrum of consumer and prop audio and multimedia formats — is used in home theater and car audio products, PCs, video games, DVD-video, 5.1 music discs and DVD-audio.