This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

DTS Reports Third Quarter 2013 Financial Results

CALABASAS, Calif., Nov. 6, 2013 (GLOBE NEWSWIRE) -- DTS, Inc. (Nasdaq:DTSI) today announced financial results for the third quarter ended September 30, 2013.

"Our third quarter results reflect increasing penetration in the network-connected markets, which were up more than 100% year over year," said Jon Kirchner, chairman and CEO of DTS, Inc. "We continue to proactively position the business for future growth in a dynamic environment, and we are encouraged by the progress we are making in the connected television, mobile, PC and wireless audio categories. Our efforts are helping to lay the foundation for a transformative audio entertainment ecosystem. From our mobile Headphone:X technology, which is driving excitement among artists, labels, studios and product manufacturers, to Play-Fi, which is the only technology available that enables wireless audio in the home across Android, iOS and Windows, DTS is helping redefine the entertainment experience for today's connected consumer. As we enter the holiday period amidst some broader CE market weakness, we remain confident in our strategic direction and growth prospects as we look into 2014 and beyond."

 
Quarterly Financial Comparison
  Q3 2013 Q3 2012
Revenue $28.2 million $22.2 million
Year-over-year growth rate 27% 8%
 
GAAP Net income/(loss) $2.0 million $(19.1) million
GAAP Earnings/(loss) per share* $0.11 $(1.04)
 
Non-GAAP Operating margin 21% 2%
Non-GAAP Net income/(loss) $3.6 million $(11.1) million
Non-GAAP Earnings/(loss) per share* $0.19 $(0.61)
 
*Earnings/(loss) per diluted share net of tax
 
 
Other GAAP Results
  Q3 2013 Amount per diluted share*
Stock-based compensation $2.8 million $0.09
Amortization of intangibles $2.5 million $0.08
Acquisition and integration- related costs $1.1 million $0.04
Net adjustment to Phorus-related intangibles and contingent consideration ($2.5 million) ($0.08)
 
*Amount per diluted share net of tax

The Company generated $11.4 million in cash flow from operations during the third quarter of 2013, compared to $6.7 million during the third quarter of 2012, and closed the quarter with cash and investments totaling $81.1 million. 

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs