Bullish stock to watch: Dolby Laboratories, Inc. (NYSE: DLB)

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Dolby Laboratories, Inc. (NYSE: DLB) stock surged over 4.8% as the company better than expected results for the fourth quarter of FY 19. The company has reported the Net income on a non-GAAP basis in the fourth quarter of $67.6 million compared to $23.5 million in Q4 of last year. During the fourth quarter, the company had generated about $130 million in cash from operations and ended the quarter with a little over $1 billion in cash and investments.

DLB in the fourth quarter of FY 19 has reported the adjusted earnings per share of 66 cents, beating the analysts’ estimates for the adjusted earnings per share of 48 cents, according to analysts polled by Thomson Reuters. The company had reported the adjusted revenue of $298.8 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $297.7 million. Licensing revenue for the fourth quarter was $265 million, while products and services revenue was $34 million, both of those were in line with the company’s guidance. Total gross margin in the fourth quarter was 85.4% on a non-GAAP basis

For the first quarter of fiscal 2020, the company expects non-GAAP earnings per share to be in the range of $0.45 to $0.51 and total revenue expected to be in the range of $275 million to $295 million. The analysts expect the company to report earnings of $0.65 per share and revenues of $326.52 million for the first-quarter.

Further, for the first quarter of fiscal 2020, the company expects Gross margin percentages to be approximately 89% on a non-GAAP basis, Operating expenses to range from $192 million to $198 million on a non-GAAP basis and effective tax rate to range from 18% to 21%.

For its fiscal year 2020, the company projects non-GAAP earnings per share to be in the range of $3.40 to $3.50 and total revenue is expected to be in the range of $1.30 billion to $1.35 billion. Wall Street currently is expecting for fiscal year 2019 earnings to be of $2.50 per share on annual revenues to be of $1.24 billion

For its fiscal year 2020, the company expects Gross margin percentages to range from 88% to 89% on a non-GAAP basis, Operating expenses to range from $740 million to $760 million on a non-GAAP basis and effective tax rate to range from 18% to 21%.

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