Dolby Laboratories, Inc. (NYSE:DLB) Q4 2020 Earnings Conference Call November 12, 2020 5:00 PM ET Company Participants Jason Dea - Director of Corporate Finance and Investor Relations Lewis Chew - Executive Vice President and Chief Financial Officer Kevin Yeaman - President and Chief Executive Officer Conference Call Participants Steven Frankel - Colliers Securities LLC Ralph Schackart - William Blair & Company LLC Paul Chung - JPMorgan Chase & Co. Eric Wold - B. Riley FBR, Inc. James Goss - Barrington Rese ...

Dolby Laboratories, Inc. (NYSE:DLB) Q3 2020 Earnings Conference Call August 3, 2020 5:00 PM ET Company Participants Jason Dea - Director, Investor Relations Lewis Chew - Executive Vice President and Chief Financial Officer Kevin Yeaman - President and Chief Executive Officer Conference Call Participants Ralph Schackart - William Blair Paul Chung - JP Morgan Jim Goss - Barrington Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories Conference Call discussing Fi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 26, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 DOLBY LABORATORIES, INC. (Exact name of registrant as specified in its charter) Indicate by check mark whether the ...

Financial Data and Key Metrics Changes - In Q2 2020, total revenue was $352 million, up from $338 million in Q2 2019, but about $30 million below the midpoint of guidance due to lower consumer activity related to the COVID-19 pandemic [12][29] - Operating income was $105.9 million on a GAAP basis, representing 30.1% of revenue, compared to $102.9 million or 30.4% of revenue in Q2 2019 [28] - Net income on a GAAP basis was $88.5 million or $0.86 per diluted share, compared to $73.4 million or $0.70 per diluted share in Q2 2019 [29] Business Line Data and Key Metrics Changes - Licensing revenue from the Broadcast segment, which includes TVs and set-top boxes, was up 5% year-over-year, representing 39% of total licensing [15] - Mobile devices licensing revenue increased by 13% year-over-year, accounting for 23% of total licensing [16] - Products and services revenue was $23 million in Q2, down from $34 million in Q1 and $28 million in Q2 2019, primarily due to the impact of the pandemic on the cinema industry [23] Market Data and Key Metrics Changes - Licensing revenue was negatively impacted by approximately $25 million due to the pandemic, heavily concentrated in China [13] - Other Markets licensing, which includes automotive and gaming, was down 16% year-over-year due to lower volume and recoveries [21] - The effective income tax rate in Q2 was 20% on both GAAP and non-GAAP basis [29] Company Strategy and Development Direction - The company remains focused on long-term growth despite the current economic challenges, emphasizing the importance of quality experiences in content consumption [52][68] - Dolby is recalibrating priorities and reviewing spending and capital investments to align with long-term goals [53] - The company is confident in the return of consumers to theaters and the continued adoption of Dolby technologies across various devices and services [54][58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty caused by the COVID-19 pandemic, affecting visibility into near-term growth [10][32] - The company expects Q3 licensing revenue to range from $220 million to $240 million, down 20% to 25% from previous expectations due to cinema closures and reduced consumer demand [36][41] - Management expressed optimism about the long-term opportunities for Dolby technologies as consumer spending returns [68] Other Important Information - The company ended Q2 with over $1 billion in cash and investments and no outstanding debt [52] - A cash dividend of $0.22 per diluted share was announced, payable on May 27, 2020 [31] - The company bought back about 1 million shares during Q2, with $260 million of stock repurchase authorization still available [31] Q&A Session Summary Question: Insight on reducing run rate of expenses - Management indicated that they are focused on maintaining strength for long-term opportunities while reviewing expenses on a business-by-business basis [71][72] Question: Guidance on current quarter expenses - Management noted that current guidance reflects lower spending primarily due to reduced travel and hiring, with no significant one-time expenses expected [74][76] Question: Anticipating customer production volumes - Management stated that they rely on a range of indicators, including customer feedback and economic reports, to gauge production volumes [78][80] Question: Consumer demand trends and supply chain - Management acknowledged that the decline in unit shipments is primarily driven by reduced consumer demand rather than supply chain issues [90] Question: Share buyback program and future investments - Management confirmed that the buyback program has not been suspended and they continue to invest in growth programs despite the current environment [95][96] Question: Cinema strategy and future investments - Management expressed confidence in the return of consumers to theaters and indicated that new Dolby Cinema builds are significantly reduced for the near term [110][112] Question: Regional consumer demand trends - Management is monitoring trends in regions like Asia as retail outlets begin to open, but specific insights were not detailed [113]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 27, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 DOLBY LABORATORIES, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | |------- ...

Dolby Laboratories, Inc. (NYSE:DLB) Q1 2020 Results Earnings Conference Call January 29, 2020 5:00 PM ET Company Participants Jason Dea - Director, IR Kevin Yeaman - President and CEO Lewis Chew - EVP and CFO Conference Call Participants Steven Frankel - Dougherty & Company Paul Chung - JPMorgan Jim Goss - Barrington Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories' Conference Call discussing Fiscal First Quarter Results. During the presentation, all parti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended December 27, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 1 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 27, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 | --- | --- | --- | |------------------------------------------------------------------------------|------------------ ...

Dolby Laboratories, Inc. (NYSE:DLB) Q4 2019 Earnings Conference Call November 14, 2019 5:00 PM ET Company Participants Jason Dea - Director, IR Kevin Yeaman - President and CEO Lewis Chew - EVP and CFO Conference Call Participants Ralph Schackart - William Blair Steven Frankel - Dougherty Eric Wold - B. Riley Paul Chung - JPMorgan Jim Goss - Barrington Research Operator Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories' Conference Call discussing Fiscal Fourth Quarter and Fi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 28, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-32431 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ...