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UPDATE 1-DTS Q4 results top Street, forecasts strong FY revenue
February 22, 2010 / 10:07 PM / in 8 years

UPDATE 1-DTS Q4 results top Street, forecasts strong FY revenue

* Q4 EPS $0.27 vs est $0.24

* Q4 rev $21.2 mln vs est $20.2 mln

* Sees 2010 revenue above Street view

Feb 22 (Reuters) - Entertainment technology firm DTS Inc DTSI.O posted fourth-quarter results that were higher than analysts’ estimates due to growth in the gaming consoles and stand-alone players’ space, and forecast 2010 revenue above market expectations.

Significant declines in price points, broader content and hardware availability, and expanding retail industry support drove growth in the gaming consoles and stand-alone player space in 2009, DTS said.

For the fourth quarter, it earned $4.8 million, or 27 cents a share, compared with $3 million, or 17 cents a share, a year ago.

Revenue rose 16 percent to $21.2 million.

Analysts were expecting DTS to earn 24 cents a share on revenue of $20.2 million, according to Thomson Reuters I/B/E/S.

DTS, which also licenses its technologies to Blu-ray devices, said it saw Blu-ray “firmly establish itself as the next major physical media format for home entertainment” in 2009.

“The growing consumer interest in Blu-ray as a connected home device is setting the stage for an expanded DTS footprint in the online market, across a range of devices including TVs, digital media players, and set-top boxes,” Chief Executive Jon Kirchner said.

For 2010, DTS expects a profit of 73 cents to 78 cents a share, the top end of which is in line with market expectations.

For the full year, it forecast revenue of $80 million to $83 million, beating Wall Street estimates of $79.6 million.

DTS shares were up 27 cents at $27.50 in trading after the bell. They closed at $27.23 Monday on Nasdaq.

For the alerts, click here. [ID:nWNAB0227] (Reporting by Deepti Govind in Bangalore; Editing by Maju Samuel)

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