Press Release Article

February 28, 2008

DTS-Q407 Earnings Table
PR for: DTS Corporate

CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share amounts)

As of
December 31,
 2006		 As of
December 31, 2007
(Unaudited)

ASSETS

Current Asset:
Cash and cash equivalents $14,392 $35,523
Short-term investments 94,368 49,879
Accounts receivable, net of allowance for doubtful accounts of $48 and
      $81 at December 31, 2006 and December 31, 2007, respectively 		2,550 8,675
Deferred income taxes 7,059 8,776
Prepaid expenses and other current assets 1,525  1,342
Income taxes receivable, net 2,244 2,085
Assets of discontinued operations held for sale 11,290 8,629

Total current assets

 $133,428 $114,909
Property and equipment, net 5,982 5,861
Intangible assets, net 1,852 2,387
Deferred income taxes 305 8,584
Other assets 989 3,019
Assets of discontinued operations held for sale 25,644 3,457
$168,200 $138,217

 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Accounts payable $1,142  $1,068
Accrued expenses and other current liabilities 3,832 
 		 6,118
Liabilities of discontinued operations held for sale 7,944 
 		 7,503

Total current liabilities

 12,918 14,689
Other long-term liabilities - 2,242
Liabilities of discontinued operations held for sale 1,466  474
Stockholders' equity:
Preferred stock - $0.0001 par value, 5,000 shares authorized at
              December 31, 2006 and December 31, 2007;
              no shares issued and outstanding		 - -
Common stock - $0.0001 par value, 70,000 shares authorized at
              December 31, 2006 and December 31, 2007; 18,024 and 18,669
              shares issued at December 31, 2006 and December 31, 2007,
              respectively; 18,024 and 17,669 outstanding at December 31,    
              2006 and December 31, 2007, respectively		 2 2
Additional paid-in capital 129,549 140,008
Treasury stock, at cost - zero and 1,000 shares at December 31, 2006
              and December 31, 2007, respectively		 - (-22,670)
Accumulated other comprehensive income - 193
Retained earnings 24,265 3,279

Total stockholders' equity

153,816 120,812

Total liabilities and stockholders' equity

 $168,200 $138,217

 

CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)

   

For the Three Months Ended
December 31,

 For the Twelve Months Ended
December 31,
    2006 2007 2006 2007
   

(Unaudited)
Revenue  $10,263  $16,840 $50,039 $53,073
Cost of revenue 656 434  2,082 1,276
Gross profit 9,607 16,406 47,957 51,797
Operating expenses:        
  Selling, general and administrative 7,989 9,827 29,803 33,116
  Research and development 1,827 1,592 6,861 6,473
  Restructuring costs 3,758 - 3,758 -
 

Total operating expenses

 13,574 11,419 40,422 39,589
Income (loss) from operations (3,967) 4,987 7,535 12,208
Interest and other income, net 1,250 565 4,954 2,704
Income (loss) from continuing operations before income taxes (2,717) 5,552 12,489 14,912
Provision (benefit) for income taxes (3,713) 1,136 2,896 5,310
Income from continuing operations 996 4,416 9,593 9,602
Loss from discontinued operations, net of tax (5,964) (22,295) (6,569) $(30,041)
Net income (loss) $(4,968) $(17,879) $3,024 $(20,439)
           
Earnings per share - basic:        
Income from continuing operations $.06 $0.25 $0.54 $0.54
Discontinued operations, net of tax (0.34) (1.27) (0.37) (1.69)
  Net income (loss) $(0.28) $(1.02) $0.17 $(1.15)
           
Earnings per share - diluted:        
  Income from continuing operations $0.05 $0.24 $0.52 $0.52
  Discontinued operations, net of tax (0.32) (1.23) (0.36) (1.63)
  Net income (loss) $(0.27) $(0.99) $0.16 $(1.11)
           
Weighted average shares used to compute net income (loss) per common share:        
  Basic 17,793 17,481 17,623 17,745
  Diluted 18,572 18,102 18,401 18,418
           
           
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
   

For the Three Months Ended
December 31,

 For the Twelve Months Ended
December 31,
    2006 2007 2006 2007
   

(Unaudited)
Revenue  $10,263  $16,840 $50,039 $53,073
Cost of revenue 656 434  2,082 1,276
Gross profit 9,607 16,406 47,957 51,797
Operating expenses:        
  Selling, general and administrative 7,989 9,827 29,803 33,116
  Research and development 1,827 1,592 6,861 6,473
  Restructuring costs 3,758 - 3,758 -
 

Total operating expenses

 13,574 11,419 40,422 39,589
Income (loss) from operations (3,967) 4,987 7,535 12,208
Interest and other income, net 1,250 565 4,954 2,704
Income (loss) from continuing operations before income taxes (2,717) 5,552 12,489 14,912
Provision (benefit) for income taxes (3,713) 1,136 2,896 5,310
Income from continuing operations 996 4,416 9,593 9,602
Loss from discontinued operations, net of tax (5,964) (22,295) (6,569) $(30,041)
Net income (loss) $(4,968) $(17,879) $3,024 $(20,439)
           
Earnings per share - basic:        
Income from continuing operations $.06 $0.25 $0.54 $0.54
Discontinued operations, net of tax (0.34) (1.27) (0.37) (1.69)
  Net income (loss) $(0.28) $(1.02) $0.17 $(1.15)
           
Earnings per share - diluted:        
  Income from continuing operations $0.05 $0.24 $0.52 $0.52
  Discontinued operations, net of tax (0.32) (1.23) (0.36) (1.63)
  Net income (loss) $(0.27) $(0.99) $0.16 $(1.11)
           
Weighted average shares used to compute net income (loss) per common share:        
  Basic 17,793 17,481 17,623 17,745
  Diluted 18,572 18,102 18,401 18,418
           
           
DTS Digital Cinema

PRESS CONTACTS

DTS North America

J. Sperling Reich
+1.818.401.4322
Sperling.Reich@dtsdcinema.com

DTS Europe

Bradina Hudell
Director, Marketing, DTS Digital Cinema, Europe
+44 118 982 8611
bradina.hudell@dtsdcinema.com

DTS PR Europe

Steve Hooley, Emmett & Smith
+ 44 207 819 4800
Stephen.Hooley@emmettandsmith.com

CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)

   

For the Three Months Ended
December 31,

 For the Twelve Months Ended
December 31,
    2006 2007 2006 2007
   

(Unaudited)
Revenue  $10,263  $16,840 $50,039 $53,073
Cost of revenue 656 434  2,082 1,276
Gross profit 9,607 16,406 47,957 51,797
Operating expenses:        
  Selling, general and administrative 7,989 9,827 29,803 33,116
  Research and development 1,827 1,592 6,861 6,473
  Restructuring costs 3,758 - 3,758 -
 

Total operating expenses

 13,574 11,419 40,422 39,589
Income (loss) from operations (3,967) 4,987 7,535 12,208
Interest and other income, net 1,250 565 4,954 2,704
Income (loss) from continuing operations before income taxes (2,717) 5,552 12,489 14,912
Provision (benefit) for income taxes (3,713) 1,136 2,896 5,310
Income from continuing operations 996 4,416 9,593 9,602
Loss from discontinued operations, net of tax (5,964) (22,295) (6,569) $(30,041)
Net income (loss) $(4,968) $(17,879) $3,024 $(20,439)
           
Earnings per share - basic:        
Income from continuing operations $.06 $0.25 $0.54 $0.54
Discontinued operations, net of tax (0.34) (1.27) (0.37) (1.69)
  Net income (loss) $(0.28) $(1.02) $0.17 $(1.15)
           
Earnings per share - diluted:        
  Income from continuing operations $0.05 $0.24 $0.52 $0.52
  Discontinued operations, net of tax (0.32) (1.23) (0.36) (1.63)
  Net income (loss) $(0.27) $(0.99) $0.16 $(1.11)
           
Weighted average shares used to compute net income (loss) per common share:        
  Basic 17,793 17,481 17,623 17,745
  Diluted 18,572 18,102 18,401 18,418