SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Thursday reported fiscal fourth-quarter profit of $26.8 million.
On a per-share basis, the San Francisco-based company said it had profit of 26 cents. Earnings, adjusted for one-time gains and costs, were 45 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $271.2 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $241.7 million.
For the year, the company reported profit of $231.4 million, or $2.25 per share. Revenue was reported as $1.16 billion.
For the current quarter ending in January, Dolby Laboratories expects its per-share earnings to range from 97 cents to $1.12.
The company said it expects revenue in the range of $330 million to $360 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $241.7 million.
Dolby Laboratories shares have climbed 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $81.74, an increase of 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLB at https://www.zacks.com/ap/DLB
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