DLB FY 2011 Earnings Report — Dolby Laboratories, Inc. Revenue & Financial Results | Market Cap Arena

Dolby Laboratories, Inc.DLB

FY 2011 Earnings

Reported November 22, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$956M	—	$923M	—	3.6%
Op. Income	$433M	—	$446M	—	-2.9%
Gross Margin	88.4%	—	86.8%	—	1.6pp
Net Margin	32.4%	—	30.7%	—	1.6pp
EPS (Diluted)	$2.75	—	$2.46	—	11.8%
Free Cash Flow	$356M	—	$289M	—	23.3%

Revenue Flow

Item	Amount
REVENUE	$956M
Cost of Revenue	$111M
GROSS PROFIT	$844M
R&D Expenses	$124M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$287M
Other Expenses	$0
Operating Expenses	$411M
Cost & Expenses	$522M
OPERATING INCOME	$433M
Interest Income	$10M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$441M
Income Tax Expense	$130M
Net Income from Continuing Ops	$311M
Net Income from Discontinued Ops	$0
NET INCOME	$309M
BOTTOM LINE NET INCOME	$309M
D&A	$44M
EBIT	$441M
EBITDA	$485M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$956M
Cost of Revenue	$111M
GROSS PROFIT	$844M
R&D Expenses	$124M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$287M
Other Expenses	$0
Operating Expenses	$411M
Cost & Expenses	$522M
OPERATING INCOME	$433M
Interest Income	$10M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$441M
Income Tax Expense	$130M
Net Income from Continuing Ops	$311M
Net Income from Discontinued Ops	$0
NET INCOME	$309M
BOTTOM LINE NET INCOME	$309M
D&A	$44M
EBIT	$441M
EBITDA	$485M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$311M
Depreciation & Amortization	$44M
Stock-Based Compensation	$44M
Deferred Income Tax	$7M
Other Non-Cash Items	$9M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$404M
Capital Expenditure	-$47M
Acquisitions (Net)	-$3M
Purchases of Investments	-$619M
Sales/Maturities of Investments	$430M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$237M
Common Stock Repurchased	-$197M
Common Dividends Paid	$0
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$162M
FREE CASH FLOW	$356M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$394M
Short-Term Investments	$548M
Net Receivables	$70M
Inventory	$26M
Other Current Assets	$100M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$117M
Goodwill	$263M
Intangible Assets	$52M
Long-Term Investments	$273M
Tax Assets	$15M
Other Non-Current Assets	$6M
TOTAL NON-CURRENT ASSETS	$726M
TOTAL ASSETS	$1.9B
Account Payables	$128M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$103M
TOTAL CURRENT LIABILITIES	$159M
Long-Term Debt	$0
Deferred Revenue NC	$16M
Deferred Tax Liabilities	$671.0K
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$40M
TOTAL LIABILITIES	$199M
Common Stock	$110.0K
Additional Paid-In Capital	$0
Retained Earnings	$1.4B
Accum. Other Comp. Income	$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$22M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$0
Net Debt	-$394M