Dolby Laboratories(US:DLB) ZACKSยท2024-11-20 15:45Core Insights - Dolby Laboratories, Inc. reported a non-GAAP EPS of 81 cents for Q4 fiscal 2024, an increase from 65 cents in the prior-year quarter, surpassing the Zacks Consensus Estimate of 68 cents, driven by lower tax rates and higher gross margins [1][2] - Total revenues reached $304.8 million, up from $290.6 million year-over-year, although this figure missed the Zacks Consensus Estimate by 0.3% [2] Financial Performance - Gross profit for Q4 was $270.8 million, compared to $255 million in the same quarter last year, while total operating expenses decreased to $224.5 million from $258.5 million [7] - Operating income improved to $46.4 million from an operating loss of $3.5 million in the prior-year quarter [8] Segment Analysis - Licensing revenues were $282.7 million, reflecting a 6.6% year-over-year increase, while Products and Services revenues fell by 12.8% to $22.1 million [5] - Broadcast Licensing contributed 34% to total licensing revenues, with other segments like Mobile Licensing and Consumer Electronics accounting for 17% and 15%, respectively [6] Future Outlook - For fiscal 2025, Dolby anticipates approximately 15% organic growth for Dolby Atmos and Dolby Vision, with imaging patents expected to grow around 15% as well [4] - The company projects revenues between $1.33 billion and $1.39 billion for fiscal 2025, with GAAP EPS expected to be in the range of $2.43 to $2.58 and non-GAAP EPS between $3.99 and $4.14 [13] Cash Flow and Shareholder Returns - For the fiscal year ending September 27, 2024, Dolby generated $327.3 million in net cash from operating activities, down from $367 million a year ago [9] - The company announced a dividend of 33 cents per share, payable on December 10, 2024, to shareholders of record on December 3, 2024 [4]