Dolby Q4 revenue rises to $290.6 million, but GAAP EPS falls to $0.09 from $0.28
Dolby reported fiscal fourth-quarter 2023 revenue of $290.6 million, up from $278.2 million a year earlier, but GAAP diluted earnings per share fell to $0.09 from $0.28 after a restructuring charge of about $30 million. The company also gave first-quarter and full-year fiscal 2024 estimates, with full-year revenue expected to be about $1.30 billion and GAAP diluted EPS of $2.30 to $2.45, and declared a $0.30 per share cash dividend.
- Q4 fiscal 2023 revenue $290.6 million vs $278.2 million; GAAP diluted EPS $0.09 vs $0.28; non-GAAP diluted EPS $0.65 vs $0.54
- Restructuring charge of about $30 million in Q4, including about $13 million severance and about $17 million software impairment
- Fiscal 2024 outlook: total revenue about $1.30 billion; GAAP diluted EPS $2.30 to $2.45; non-GAAP diluted EPS $3.60 to $3.75
- Cash dividend of $0.30 per share payable December 5, 2023, to holders of record on November 28, 2023