DTS Reports First Quarter Fiscal 2016 Financial Results
finance.yahoo.com
“We are pleased with our first quarter performance, driven by further penetration in mobile and automotive, as well as slightly higher than expected royalty recoveries,” said Jon Kirchner, chairman and CEO, DTS, Inc. “These results set us up nicely to meet our expectations for 2016. Importantly, with the acquisition and integration of HD Radio complete, and our first full quarter together under our belts, we are already seeing the benefits with non-GAAP operating income growth of 58% year-over-year, a 37% increase in operating cash flow, and improving profit margins. Over the longer run, we believe we are strategically positioned to grow our footholds in the home, mobile device and automotive markets by building content support and selling the broadest suite of innovative end-to-end audio solutions. Our vision is to deliver the highest quality audio experience anywhere, anytime, on any device.” |
