Dolby laboratories, inc. (DLB)
Income statement / Yearly
Sep'19Sep'18Sep'17Sep'16Sep'15Sep'14Sep'13Sep'12Sep'11Sep'10Sep'09Sep'08
Revenue:
Revenue

1,241,620

1,054,600

-

-

-

-

-

-

-

-

-

-

Products

-

-

-

90,543

83,904

59,219

80,603

103,388

131,611

180,402

95,967

72,284

Services

-

-

-

18,163

18,623

22,113

21,990

28,313

33,554

31,837

28,839

30,584

Total revenue

1,241,620

1,054,600

1,080,177

1,025,738

970,638

960,176

909,674

933,014

961,065

922,713

719,503

640,231

Cost of revenue:
Cost of services

-

-

-

15,796

13,447

14,230

15,593

12,778

12,223

13,961

12,786

12,520

Gain from amended patent licensing agreement

-

-

-

-

-

-

-

-

-

-

20,041

0

Impairment of products provided under operating leases

-

-

-

-

-

-

-

-

-

9,594

-

-

Total cost of revenue

160,854

127,562

118,529

108,982

94,816

70,176

96,719

92,027

111,171

131,815

64,768

67,777

Gross margin

1,080,766

927,038

961,648

916,756

875,822

890,000

812,955

840,987

849,894

790,898

654,735

572,454

Operating expenses:
Research and development

237,871

236,794

233,312

219,607

201,324

183,128

168,746

140,143

123,920

104,978

81,543

77,500

Sales and marketing

343,835

309,762

296,661

295,267

279,174

252,647

231,103

188,486

155,202

130,160

98,838

110,495

General and administrative

205,425

197,423

171,686

168,854

182,176

178,104

161,970

149,175

137,633

119,353

105,841

97,676

Restructuring charges/(credits)

36,558

-446

12,856

1,233

-80

2,403

5,874

1,191

3,406

7,026

4,847

-

Total operating expenses

823,689

743,533

714,515

684,961

662,594

616,282

567,693

478,995

420,161

361,517

291,069

285,671

Operating income

257,077

183,505

247,133

231,795

213,228

273,718

245,262

361,992

429,733

429,381

363,666

286,783

Other income/expense:
Interest income

24,919

18,970

9,577

5,684

4,544

3,344

3,848

6,411

8,976

7,298

11,265

17,889

Interest expense

170

198

127

125

183

-183

575

196

-1,027

703

935

2,126

Other income/(expense), net

481

-5,903

-1,438

-1,450

28,193

-1,146

2,111

784

907

1,036

-2,577

-744

Total other income

25,230

12,869

8,012

4,109

32,554

2,381

5,384

6,999

-

-

-

-

Income before income taxes

282,307

196,374

255,145

235,904

245,782

276,099

250,646

368,991

440,643

437,012

371,419

301,802

Provision for income taxes

26,802

154,069

48,039

49,502

62,542

67,379

60,344

103,857

130,061

154,185

127,073

100,770

Net income including controlling interest

255,505

42,305

207,106

186,402

183,240

208,720

190,302

265,134

310,582

282,827

244,346

201,032

Less: net income attributable to controlling interest

354

559

625

542

1,850

2,617

1,031

832

1,315

-620

1,355

1,574

Net income attributable to Dolby Laboratories, Inc.

255,151

41,746

206,481

185,860

181,390

206,103

189,271

264,302

309,267

283,447

242,991

199,458

Net income per share:
Basic (in usd per share)

2.51

0.40

2.03

1.85

1.77

2.02

1.86

2.47

2.78

2.50

2.15

1.79

Diluted (in usd per share)

2.44

0.39

2.00

1.81

1.75

1.99

1.84

2.46

2.75

2.46

2.11

1.74

Weighted-average shares outstanding:
Basic (in shares)

101,629

103,377

101,784

100,717

102,354

102,151

101,879

106,926

111,444

113,452

113,101

111,492

Diluted (in shares)

104,572

106,978

103,286

102,424

103,862

103,632

102,788

107,541

112,554

115,388

115,367

114,781

Related party rent expense:
Included in operating expenses

16,360

3,483

3,142

3,097

3,136

2,125

2,526

1,372

1,372

1,372

1,272

1,361

Included in net income attributable to controlling interest

572

712

702

706

4,091

4,827

3,636

3,270

3,098

3,225

-

-

Common stock, dividends declared (in dollars per share)

0.79

0.67

0.58

0.50

0.42

0.00

4.00

-

-

-

-

-

Common Stock, Dividends, Per Share, Cash Paid

0.76

0.64

0.56

0.48

0.40

0.00

4.00

-

-

-

-

-

Licensing
Revenue

1,107,280

940,777

965,864

917,032

868,111

878,844

807,081

801,313

795,900

710,474

594,697

537,363

Cost of revenue

57,531

42,583

39,329

28,333

10,879

10,814

16,856

12,924

17,620

17,565

14,803

15,802

Products and services
Revenue

134,340

113,823

114,313

-

-

-

-

-

-

-

-

-

Cost of revenue

103,323

84,979

79,200

64,853

70,490

45,132

64,270

66,325

81,328

90,695

57,220

39,455