RTTNews | Nov 12, 2020 06:00PM EST

18:00 Thursday, November 12, 2020 (RTTNews.com) - Dolby Laboratories, Inc. (DLB) Monday reported fourth-quarter profit of $26.8 million or $0.26 per share, down from $43.9 million or $0.43 per share last year.

Adjusted earnings for the quarter were or $0.45 per share, compared to $0.66 per share last year.

Fourth-quarter revenues dropped to $271.2 million from $298.8 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.34 per share and revenues of $244.44 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, Dolby expects adjusted earnings of $0.97 to $1.12 per share on revenues of $330 million to $360 million. Analysts currently estimate earnings of $0.56 per share on revenues of $277.94 million for the quarter.

For the second quarter , the company expects revenues of $270 million to $300 million.

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