Dolby Laboratories, Inc. (NYSE:DLB) today announced the company’s financial results for the fourth quarter and fiscal year that ended September 24, 2021. For the fourth quarter, Dolby reported total revenue of $285.0 million, compared to $271.2 million for the fourth quarter of fiscal 2020. For fiscal 2021, Dolby reported total revenue of $1.28 billion, compared to $1.16 billion for fiscal 2020.
“Dolby continues to expand the breadth and depth of Dolby Vision and Dolby Atmos experiences across a wider range of content in music, gaming, and live sports,” said Kevin Yeaman, President and CEO, Dolby Laboratories. “We are also excited about the opportunity to drive future growth with initiatives like Dolby.io which enables developers to build high-quality, interactive and media-centric applications.”
Fourth quarter GAAP net income was $44.2 million, or $0.42 per diluted share, compared to GAAP net income of $26.8 million, or $0.26 per diluted share, for the fourth quarter of fiscal 2020. On a non-GAAP basis, fourth quarter net income was $60.4 million, or $0.58 per diluted share, compared to $45.8 million, or $0.45 per diluted share, for the fourth quarter of fiscal 2020. Fourth quarter cash flows from operations was $109.8 million, compared to $112.7 million for the fourth 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.
Fiscal 2021 GAAP net income was $310.2 million, or $2.97 per diluted share, compared to $231.4 million, or $2.25 per diluted share, for fiscal 2020. On a non-GAAP basis, fiscal 2021 net income was $383.3 million, or $3.66 per diluted share, compared to $305.2 million, or $2.97 per diluted share, for fiscal 2020. Fiscal 2021 cash flows from operations was $447.8 million, compared to $343.8 million for fiscal 2020.
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