Dolby Pumps Up Volume

Shares rise after an earnings beat.
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Dolby Labs (DLB) - Get Report soared late Thursday after the audio technology company beat first-quarter targets and guided in line for the year.

The San Francisco-based company made $30 million, or 27 cents a share, for the quarter ended Dec. 29, up from the year-ago $17 million, or 16 cents a share. Sales rose 15% from a year ago to $104.4 million.

Analysts surveyed by Thomson Financial were looking for a 21-cent profit on sales of $103.9 million.

For 2007, the company expects to make 88 to 96 cents a share on revenue of $420 million to $450 million. Analysts were looking for an 89-cent profit on sales of $438 million.

Shares rose $1.40 late Thursday to $34.75.