Key Developments For DTS, Inc.
DTS, Inc. (DTSI.O) (Nasdaq)
DTS Inc. Announces Share Repurchase Program
DTS Inc. announced that its Board of Directors has approved a plan to repurchase up to one million shares of the Company's common stock in the open market or in privately negotiated transactions, depending upon market conditions, relevant security laws and other conditions.
DTS Inc. Lowers Top End Of Prior FY 2009 Outlook; Revenue Outlook To A Range Below Analysts' Estimates
DTS Inc. narrowed outlook for fiscal 2009 revenue to be in the range of $76 to $77 million and GAAP earnings per share (EPS) to be in the range of $0.57 to $0.59. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.59 on revenue of $78 million for the same period.
DTS Inc. Raises FY 2009 Outlook
DTS Inc. announced that in light of recent recoveries and the settlement of litigation matters, the Company adjusted its GAAP revenue outlook for fiscal 2009 to $76-$79 million and GAAP earnings per share (EPS) to be in the range of $0.57-$0.62. According to Reuters Estimates, analysts were expecting the Company to report revenue of $67 million and GAAP EPS of $0.34 for the same period.
DTS Inc. Settles Legal Matters With Zoran Corporation
DTS Inc. announced that it has settled all of its outstanding legal matters with Zoran Corporation. As a result, Zoran Corporation has entered into a new DTS Inc. license agreement for DTS technologies required for both DVD-Video and Blu-ray products, including DTS-HD Master Audio.
DTS Inc. Reaffirms FY 2009 Revenue Guidance; Issues FY 2009 EPS Guidance
DTS Inc. announced that it continues to expect fiscal 2009 fiscal revenue of $65 to $69 million, including approximately $4 million in royalty recoveries. Due to intensifying activity levels, the sensitive nature of disclosure, and the variability of potential financial outcomes, guidance for the remainder of the year will exclude costs related to the Zoran legal proceedings. As such, the Company is expecting non-GAAP earnings to be in the range of $0.55 to $0.60 per diluted share (EPS). According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $65 million for fiscal 2009.
