Dolby Laboratories, Inc. (NYSE:DLB) today announced the company’s financial results for the third quarter of fiscal 2020. For the third quarter, Dolby reported total revenue of $246.9 million, compared to $302.2 million for the third quarter of fiscal 2019.
“Consumers, now more than ever, want immersive entertainment and communications experiences,” said Kevin Yeaman, President and CEO, Dolby Laboratories. “We continue to grow the number of devices and the amount of content that support Dolby Vision and Dolby Atmos, and recently launched Dolby.io, which will broaden the range of content and experiences in Dolby.”
Third quarter GAAP net income was $67.3 million, or $0.66 per diluted share, compared to GAAP net income of $39.6 million, or $0.38 per diluted share for the third quarter of fiscal 2019. On a non-GAAP basis, third quarter net income was $87.5 million, or $0.86 per diluted share, compared to non-GAAP net income of $79.3 million, or $0.76 per diluted share for the third quarter of fiscal 2019. Third quarter cash flow from operations was $134.3 million, compared to $91.4 million for the third 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. […]