SAN FRANCISCO, May 04, 2020 (GLOBE NEWSWIRE) — Dolby Laboratories, Inc. (NYSE:DLB) today announced the company’s financial results for the second quarter of fiscal 2020. For the second quarter, Dolby reported total revenue of $351.8 million, compared to $338.3 million for the second quarter of fiscal 2019.
“We are well positioned to navigate these challenging times with the strength of our people, our value proposition, and our financial position,” said Kevin Yeaman, President and CEO, Dolby Laboratories. “Consumers want and need immersive entertainment and communications now more than ever, and Dolby is well positioned to bring these experiences across our entire portfolio of businesses.”
Second quarter GAAP net income was $88.5 million, or $0.86 per diluted share, compared to GAAP net income of $73.4 million, or $0.70 per diluted share for the second quarter of fiscal 2019. On a non-GAAP basis, second quarter net income was $106.6 million, or $1.04 per diluted share, compared to non-GAAP net income of $109.0 million, or $1.04 per diluted share for the second quarter of fiscal 2019. Second quarter cash flows from operations was $65.7 million, compared to $48.9 million for the second quarter of fiscal 2019. A complete listing of Dolby’s non-GAAP measures are described and reconciled to the corresponding GAAP measures at the end of this release.