Net Income up for DTS in Q4, Fiscal 2010

Audio technology developer DTS Inc. increased its net income by 27 percent in the fourth quarter when compared to a year ago. The Calabasas-based company reported net income of $6.1 million, or $0.34 per diluted share, on revenues of $26.9 million for the quarter ending Dec. 31. For the same period in 2009, DTS reported net income of $4.9 million, or $0.27 per diluted share, on revenues of $21.2 million. For the 2010 fiscal year, the DTS had net income of $16 million, or $0.90 per diluted share, on revenues of $87 million. For the 2009 fiscal year, the company reported net income of $10.6 million, or $0.60 per diluted share, on revenues of $77.7 million. The adoption of the Blu-ray format by consumers increased during 2010 and that led to DTS HD Master Audio becoming the dominant audio format, said company Chairman and CEO Jon Kirchner. “With the growth in Blu-ray and rapidly expanding opportunity in connected devices, we are excited about our prospects for 2011 and beyond,” Kirchner said. “We will continue to make focused investments to extend our penetration in networked-entertainment, which is expected to drive higher growth over the long-term.” Mark R. Madler