Dolby posts decline in fiscal 4th-quarter

SAN FRANCISCO (AP) — Dolby Laboratories Inc. said Tuesday its fiscal fourth-quarter profit fell nearly 9 percent, but still posted better-than-expected results.

The company earned $44.3 million, or 38 cents per share, for the three months ended Sept. 25. That was down from $48.6 million, or 42 cents per share, in the prior-year period.

Analysts, on average, had expected Dolby to earn 33 cents per share, according to a survey by Thomson Reuters.

Revenue rose slightly to $163.9 million to $163.1 million. Analysts were projecting revenue of $156.6 million.

For the year, Dolby reported net income of $243 million, or $2.11 per share, up 22 percent from $199.5 million, or $1.74 per share, in fiscal 2008. Revenue rose 12 percent to $719.5 million from $640.2 million a year earlier.

Analysts were looking for a full-year profit of $2.05 per share on revenue of $712.2 million.

Looking ahead to fiscal 2010, Dolby expects adjusted earnings per share between $2.07 to $2.20 with revenue in a range of $720 million to $750 million. Analysts are predicting a profit of $2 on revenue of $732 million.

Shares added 63 cents to $44.81 in after-hours trading, after adding $1.73, or 4.1 percent, to close at $44.18.