Benzinga | Jul 29, 2021 04:28PM EDT

Dolby Sees Q3 Adj. EPS $0.47-$0.62 vs $0.66 Est., Sales $280M-$310M vs $304.83M Est.; Sees FY21 Adj. EPS $3.57-$3.72 vs $3.51 Est., Sales $1.28B-$1.31B vs $1.29B Est.

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

* Total revenue is estimated to range from $280 million to $310 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 $216 million to $226 million on a GAAP basis and from $190 million to $200 million on a non-GAAP basis

* Effective tax rate is anticipated to range from 19% to 20% on both a GAAP and non-GAAP basis

* Diluted earnings per share is anticipated to range from $0.25 to $0.40 on a GAAP basis and from $0.47 to $0.62 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 $570 million to $600 million

Full Year Fiscal 2021

Dolby is also providing the following estimates for its fiscal year 2021:

* Total revenue is estimated to range from $1.28 billion to $1.31 billion

* Gross margin percentages are anticipated to range from 89% to 90% on a GAAP basis and from 90% to 91% on a non-GAAP basis

* Operating expenses are anticipated to range from $810 million to $820 million on a GAAP basis and from $710 million to $720 million on a non-GAAP basis

* Diluted earnings per share is anticipated to range from $2.79 to $2.94 on a GAAP basis and from $3.57 to $3.72 on a non-GAAP basis