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   Technology StocksDLB Dolby Laboratories


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From: Cooters3/4/2021 5:33:00 PM
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Really good Q&A format presentation at MS this afternoon. Lewis did a great job explaining some of the new products, particularly dolby.io. Only 30 minutes, highly suggest listening. Notes up tomorrow, time for a drink.
Cooters

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To: Cooters who wrote (260)3/10/2021 12:09:30 PM
From: Cooters
   of 281
 
Dolby at MS - 3/4/21

Q&A format with Lewis Chew, CFO

- interesting tidbit, Lewis has not been physically in the office since 3/6/20.

- Data from their recent reporting period in China, which included the Lunar NY(2/12). showed strong cinema activity.

- Dolby believes the premium theater experience will not only survive but thrive. They think the mall cineplex area may not fare so well.

- discussed the adoption of Dolby tech in the content creation market for music, said 3 years ago they had literally zero business in this area.

- Lenovo introduced a PC with Dolby Voice. they think Voice will have a strong, long lived ramp. I've seen many articles highlighting the need for better audio and video on PC's as it relates to remote work and conferencing.

- Nice description of dolby.io developer's platform. After a trial period, customers start paying for using the API's.

- Dolby Cinema was the first time they started receiving a share of each movie ticket.

- At some point they will begin sharing dolby.io metrics like downloads and customers, it will likely be before they start sharing revenue info.

- The analyst community currently forecasts 10-11% revenue growth in 2022, a return to double digits. They asked Lewis if that were to come to fruition, what things would likely drive it. He cited TV's, gaming, some early automotive revenue, and a cinema recovery. Thought dolby.io was a wild card that could really take off. And also mobile.

Cooters

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From: Cooters5/3/2021 2:19:33 PM
   of 281
 
Box and Dolby Transform Media in the Cloud

DLB 104.69 3.22 3.17% : Dolby Laboratories, Inc. - Yahoo Finance

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This is a big deal and hopefully signals the industry will adopt this across the board. Cooters

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To: Cooters who wrote (262)5/3/2021 3:20:59 PM
From: Cooters
   of 281
 
Huge volume in the May 105s ahead of earnings tomorrow

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From: Cooters5/4/2021 4:26:19 PM
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Dolby Laboratories Reports Second Quarter Fiscal 2021 Financial Results

DLB 103.53 0.12 0.12% : Dolby Laboratories, Inc. - Yahoo Finance

SAN FRANCISCO, May 04, 2021 (GLOBE NEWSWIRE) -- Dolby Laboratories, Inc. (NYSE: DLB) today announced the company's financial results for the second quarter of fiscal 2021. For the second quarter, Dolby reported total revenue of $319.6 million, compared to $351.8 million for the second quarter of fiscal 2020.

"We continue to see growing momentum in the number of Dolby experiences being enabled by our partners across a broad range of content," said Kevin Yeaman, President and CEO, Dolby Laboratories. "We have expanded our reach within music and gaming, and Dolby.io is opening the door to bring Dolby to more content experiences."

Second quarter GAAP net income was $76.2 million, or $0.73 per diluted share, compared to GAAP net income of $88.5 million, or $0.86 per diluted share, for the second quarter of fiscal 2020. On a non-GAAP basis, second quarter net income was $94.8 million, or $0.91 per diluted share, compared to $106.6 million, or $1.04 per diluted share for the second quarter of fiscal 2020. Second quarter cash flows from operations was $83.5 million, compared to $65.7 million for the second quarter of fiscal 2020. A complete listing of Dolby's non-GAAP measures are described and reconciled to the corresponding GAAP measures at the end of this release.

<snip>

Third Quarter Fiscal 2021

Dolby is providing the following estimates for its third quarter of fiscal 2021:

Total revenue is estimated to range from $260 million to $290 million

Gross margin percentages are anticipated to range from 88% to 89% on a GAAP basis and from 89% to 90% on a non-GAAP basis

Operating expenses are anticipated to range from $210 million to $220 million on a GAAP basis and from $185 million to $195 million on a non-GAAP basis

Effective tax rate is anticipated to range from 20% to 21% on both a GAAP and non-GAAP basis

Diluted earnings per share is anticipated to range from $0.15 to $0.30 on a GAAP basis and from $0.37 to $0.52 on a non-GAAP basis

Second Half of Fiscal 2021

Dolby is also providing the following estimate for its second half of fiscal 2021:

Total revenue is estimated to range from $560 million to $600 million


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From: Cooters5/18/2021 4:18:08 PM
   of 281
 
Apple Music Beats Spotify To Market With High-Fidelity Streaming Service

Apple Music Beats Spotify To Market With High-Fidelity Streaming Service | Investor's Business Daily (investors.com)

<snip>

Apple ( AAPL) said it will bring industry-leading sound quality to Apple Music subscribers with the addition of spatial audio with support for Dolby Atmos. Spatial audio is a technology that enables immersive, surround-sound audio experiences. Dolby Atmos is a premium quality audio technology from Dolby Laboratories ( DLB).

<snip>

He added, "Listening to a song in Dolby Atmos is like magic. The music comes from all around you and sounds incredible. Now we are bringing this truly innovative and immersive experience to our listeners with music from their favorite artists like J Balvin, Gustavo Dudamel, Ariana Grande, Maroon 5, Kacey Musgraves, The Weeknd and so many more."

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From: Cooters7/27/2021 3:20:04 PM
   of 281
 
Haven't seen much from the analysts for awhile, this is from last week. Earnings on Thursday btw.

Colliers Securities analyst Steve Frankel maintained a Buy rating on Dolby Laboratories today and set a price target of $115.00. The company’s shares closed last Thursday at $96.83.

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From: Cooters7/30/2021 11:37:36 AM
   of 281
 
Dolby Q3 2021 earnings call notes - 7/29/21

- Comcast is broadcasting the Tokyo Olympics in DA/DV. They were later asked about new opportunities in live broadcasting and they indicated it is like a snowball effect, as broadcasters and individuals gain experience with events like the Olympics they take that with them to new events.

- Significant discussion on DA, it is expanding via the titles and artists using DA, in live broadcasts and music services, and seeing broad geographic expansion.

- Mobile gaming is expanding the opportunity for the use of DA/DV on the mobile side, both from the content side and from the gaming handsets being announced.

- DC has 95% of the current screens open globally. They believe DC's market share is increasing as customers opt for premium experiences.

- There is a new update to dolby.io rolling out. They indicated the new APIs would enable larger events. They didn't say if the new update included video.

- 172M in free cash flow in Q3, ended Q with 1.3B in cash. Answering a later question they said their strong cash flow is getting a bump from improving GM/OM, but in general it is a reflection of a strong biz model and solid growth. 37M left in stock repurchase auth. Added another 350M, new auth. is 387M.

- There was a trueup of 14M in Q3 from Q2.

- No update on new CFO search.

- In music, they are engaging with the auto OEMs in the manner Sirius/XM does to get their service in new cars. They have only announced Lucid, but believe the lead times in the auto industry have come down significantly in recent years, especially with electric autos. They think it can be as low as a year now.

- No update on DV penetration, but did indicate broad adoption across all markets.

Cooters

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From: Cooters7/30/2021 12:01:04 PM
   of 281
 
CFRA MAINTAINS HOLD OPINION ON SHARES OF DOLBY LABORATORIES, INC.

3:03 pm ET July 30, 2021

Our 12-month target of $100 (up by $4), 25.6x our FY 22 (Sep.) EPS estimate, is aligned with the DLB's five-year historical trading band. We increase our FY 21 EPS estimate to $3.62 from $3.45 and FY 22's EPS to $3.91 from $3.84. DLB prints Jun-Q adj-EPS of $0.71 vs. $0.86, compared to consensus of $0.48, as sales growth and expense controls led to operating margin upside (26% vs. 24% expected). Revenues were $287M (up 16.7% Y/Y), topping consensus by $8M, as a shipment true-up of $14M drove the beat in its entirety. Total licensing revenue rose nicely by 15.5%, as higher recoveries in broadcast more than offset declines in mobile. DLB maintained its assumptions that PC markets likely remain the key growth driver for the remainder of FY 21, which led to the company to modestly raise the low-end of its second half revenue target to $570M (from $560M). The quarter was sound, with no glaring outliers, but a lack of near-term catalysts likely keeps shares in a tight trading range in the interim, in our opinion.

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From: Cooters8/2/2021 11:10:27 AM
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Barrington Research Upgrades Dolby Laboratories to Outperform, Announces $115 Price Target

9:07 am ET August 2, 2021

Barrington Research analyst James Goss upgrades Dolby Laboratories (NYSE:DLB) from Market Perform to Outperform and announces $115 price target.

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fyi, during the recent call the Barrington guy was focused on the Music business and getting into automotive. Coot

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