Dolby Laboratories Reports Record Revenue for Second Quarter of Fiscal 2005; Company Issues Full-Year Guidance.

SAN FRANCISCO -- In its first earnings report as a public company, Dolby Laboratories (NYSE:DLB) today announced the Company's financial results for the second quarter of fiscal 2005 ended April 1, 2005. For the second quarter, Dolby reported total revenue of $85.1 million, the highest quarterly revenue in its 40-year history, compared to $78.7 million for the second quarter of fiscal 2004. Second-quarter net income was $10.3 million, or $0.10 per diluted share compared to $12.4 million, or $0.14 per diluted share for the second quarter of fiscal 2004. Per-share calculations are based on 105.5 million diluted shares in the second quarter of fiscal 2005 compared with 91.0 million diluted shares in the comparable year-ago quarter as a result of the Company's IPO in February 2005.

"We are very pleased with this quarter's results. Revenue was at a record quarterly level, driven by continued growth in licensees' sales of DVD-related products," said Bill Jasper, Dolby Laboratories' President and Chief Executive Officer. "During the second quarter we continued to make significant investm...

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