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UPDATE 1-DTS estimates 2nd-qtr revenue below Street expectations
July 16, 2012 / 10:39 PM / 5 years ago

UPDATE 1-DTS estimates 2nd-qtr revenue below Street expectations

* Estimates Q2 rev of $21 mln to $22 mln

* Says pending acquisition to hurt Q2 net income

July 16 (Reuters) - Audio technology company DTS Inc estimated second quarter revenue largely below analysts’ expectations, citing softness in its Blu-ray markets.

“While we typically experience a sequential decline in revenue in our second quarter as a result of seasonality in our end markets, global economic uncertainty has contributed to results that are nevertheless below certain estimates,” Chief Executive Jon Kirchner said in a statement.

The company estimates second-quarter revenue to be in the range of $21 million to $22 million.

DTS, which specializes in surround sound for DVD players, home theater and car audio systems, also expects net income to be impacted by costs associated with its pending acquisition of SRS Labs Inc, it said in a statement.

Analysts on an average were expecting a profit of 30 cents per share on revenue of $24.3 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $24.42 on Monday on the Nasdaq.

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