UPDATE 1-Dolby Labs Q1 results beat Street, ups 2009 earns view
* Q1 EPS of $0.68 beats estimates of $0.43
* Q1 rev $180.3 mln vs. estimates of $164.9 mln
* Raises 2009 EPS outlook, but cuts 2009 rev outlook
* Lowers 2009 segment rev forecast
Feb 4 (Reuters) - Audio technology licensor Dolby Laboratories Inc (DLB.N) posted better-than-expected quarterly results due to a 25 percent rise in licensing revenue.
The company, whose technology is also used in consumer electronic products like DVD players and televisions, also said a $20 million gain from an amendment to a license agreement in the quarter helped it raise its full-year profit view.
It now expects earnings of $1.66 to $1.91 a share, compared with its prior forecast of $1.57 to $1.77 a share.
Dolby, however, reduced its full-year revenue forecast as it now sees lower revenue from its licensing segment, due to slower consumer spending in the quarter.
"They're seeing weakness across the board in all their major segments at this point," said Collins Stewart analyst John Vinh, who has a "sell" rating on the stock.
For the first quarter, net income was $78.1 million, or 68 cents a share, compared with $47.7 million, or 42 cents a share, in the year-ago period.
Licensing revenue rose 25 percent to $154.1 million, while total revenue was $180.3 million. Shares of the company closed at $25.87 Wednesday on Nasdaq.
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