mlkrborn
12年前
DTSI $18 on reporting
DTS shares plunge on weak 2nd-qtr revenue guidance
DTS plunges after audio tech firm says 2nd-qtr revenue will be weaker than earlier estimates
Associated Press – 3 minutes 48 seconds ago
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DTS Inc.
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Symbol Price Change
DTSI 18.18 -6.24
WASHINGTON (AP) -- Shares of audio technology maker DTS Inc. plunged Tuesday after the company offered a disappointing early look at its expected second-quarter revenue.
THE SPARK: DTS said late Monday that it expects revenue in the quarter ended June 30 to be between $21 and $22 million. The company said it expects net income to be "significantly impacted" by costs related to its pending acquisition of SRS Labs and the tax effects of lower revenue and acquisition-related expenses.
Until Friday, Wall Street analysts had expected quarterly revenue of $24.3 million, according to a FactSet survey. The average estimate dropped on Monday to $23 million.
THE BIG PICTURE: DTS, based in Calabasas, Calif., makes audio technology that is used in consumer electronics devices such as Blu-ray and DVD players, computers, car stereos and video game consoles.
Second-quarter revenue has been disappointing because of broad economic factors affecting the consumer electronics industry, particularly the market for Blu-ray players, DTS said.
DTS said it released the details early because the purchase of SRS Labs is set to close on Friday.
THE ANALYSIS: The SRS acquisition will expand DTS' ability to serve audio users who stream content through networks rather than storing it on their own media or devices, DTS said. SRS owns numerous audio processing technologies that will add to DTS' range of offerings, DTS said in April as it announced the deal.
DTS said the second-quarter figures released Monday are preliminary. The company will provide an updated outlook for the rest of 2012 when it releases its full quarterly results in early August.
SHARE ACTION: DTS plummeted $6.04, or 24.7 percent, to $18.38 in late afternoon trading Tuesday, after earlier changing hands as low as $18.59, a price last seen in March 2009.
Penny Roger$
13年前
DTS, Inc. is a provider of branded entertainment technologies, which are incorporated into an array of entertainment products by licensee customers worldwide. The Company's core digital theatre system (DTS) digital multi-channel audio technology enables the delivery and playback of compelling surround sound and is used in a range of product applications, including audio/video receivers, digital versatile disc (DVD) players, Blu-ray Disc players, personal computers (PCs), car audio products, video game consoles, home theater systems, digital media players (DMPs), set-top-boxes (STBs) and televisions. In addition, it provides products and services to studios and other content creators to facilitate the inclusion of compelling, realistic DTS-encoded soundtracks in movies, music and broadcast entertainment content.
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