BENGALURU: Audio equipment maker Dolby Laboratories Inc (Dolby) reported a 16 per cent quarter on quarter (q-o-q) growth in revenue for the quarter ended March 27, 2015 (Q2-2015, current quarter) to $271.95 million as compared to the $234.24 million reported for the immediate trailing quarter. However, y-o-y, revenue fell two per cent from the $278.59 million reported for Q2-2015. The company says that total revenue for Q2-2014 included a back payment settlement of $ 24.7 million, which did not repeat in Q2- 2015.
“We had another solid quarter driven by growth in our broadcast business,” said Dolby Laboratories President and CEO Kevin Yeaman. “In addition, we saw significant progress with our new initiatives as AMC Theatres and Disney announced their support for Dolby Cinema and Vizio announced the first Dolby Vision TV.”
Three streams add to the company’s revenue – Licensing, products and services, with licensing contributing the lion’s share. Q-o-q licensing revenue increased four per cent to $243.33 million in Q2-2015 as compared to $216.6 million in Q1-2015, but was six per cent less than the $258.62 million reported for Q2-2015.
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A major chunk of licensing revenue comes from broadcast licensing (42 per cent in Q2-2015, 41 per cent in Q1-2015 and 46 per cent in Q2-2014). PC licensing, Consumer Electronics licensing, mobile licensing and other licensing are the other contributors to licensing revenue. Mobile licensing in Q2-2014 contributed just 11 per cent to licensing revenue, as compared to 16 per cent in the previous quarter and the corresponding year ago quarter.
Products revenue for Q2-2015 was $22.99 million, for Q1-2015 it was $13.26 million and for Q2-2014 it was $14.56 million. Services revenue for Q2-2015 was $5.63 million, for Q1-2015, it was $4.38 million and for Q2-2014, it was $5.41 million.
For Q3-2015, Dolby estimates that the total revenue will range from $230 million to $240 million. Gross margin percentages are projected to range between approximately 89 per cent and 90 per cent on a GAAP basis and between 90 per cent and 91 per cent on a non-GAAP basis.
