DOLBY LABORATORIES, INC. DLB Income Statement

Dolby laboratories, inc. (DLB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Jun'09
Revenue:
Revenue
351,815	291,877	298,827	302,159	338,258	302,376	-	214,780	299,722	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Products
-	-	-	-	-	-	-	-	-	29,355	-	22,569	20,713	28,211	25,033	20,638	20,063	24,809	25,060	22,596	22,985	13,263	13,581	12,971	14,563	18,104	19,998	17,381	17,726	25,498	27,628	22,132	27,228	26,400	30,842	28,395	26,347	46,027	40,255	52,651	39,839	47,657	21,790
Services
-	-	-	-	-	-	-	-	-	-	-	4,990	5,144	5,357	4,423	3,923	4,941	4,876	4,363	4,251	5,632	4,377	4,433	4,754	5,413	7,513	5,611	4,986	5,165	6,228	5,973	7,304	7,682	7,354	7,179	8,814	9,052	8,509	9,123	7,292	7,638	7,784	7,313
Total revenue
351,815	291,877	298,827	302,159	338,258	302,376	240,571	214,780	299,722	299,527	240,771	305,665	267,474	266,267	232,997	277,587	274,340	240,814	232,748	231,702	271,950	234,238	226,957	223,350	278,592	231,277	216,652	207,074	249,346	236,602	225,755	210,322	262,759	234,178	249,328	218,999	250,026	242,712	227,807	230,269	243,421	221,216	171,244
Cost of revenue:
Cost of services
-	-	-	-	-	-	-	-	-	-	-	4,504	4,193	4,126	4,001	3,903	3,697	4,195	3,471	3,506	3,125	3,345	3,547	3,620	3,470	3,593	3,871	4,018	3,668	4,036	3,320	3,610	2,654	3,194	3,070	3,518	2,655	2,980	3,407	3,407	3,464	3,683	3,246
Impairment of products provided under operating leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,594	-	-	-
Total cost of revenue
36,830	37,315	45,960	39,690	36,575	38,629	31,259	34,383	31,027	30,893	29,460	32,125	26,977	29,967	30,222	24,621	24,373	29,766	25,377	24,880	25,149	19,410	12,420	18,869	17,505	21,382	23,491	24,340	23,283	25,605	26,994	21,031	23,592	20,410	25,642	27,933	28,457	29,139	26,343	40,056	29,623	35,793	19,750
Gross margin
314,985	254,562	252,867	262,469	301,683	263,747	209,312	180,397	268,695	268,634	211,311	273,540	240,497	236,300	202,775	252,966	249,967	211,048	207,371	206,822	246,801	214,828	214,537	204,481	261,087	209,895	193,161	182,734	226,063	210,997	198,761	189,291	239,167	213,768	223,686	191,066	221,569	213,573	201,464	190,213	213,798	185,423	151,494
Operating expenses:
Research and development
60,086	57,650	60,191	60,408	58,625	58,647	60,500	60,357	59,493	56,444	57,822	59,631	58,341	57,518	59,214	54,977	52,088	53,328	50,621	45,508	56,601	48,594	47,081	46,786	44,798	44,463	41,447	42,915	41,948	42,436	37,958	35,123	34,236	32,826	33,108	34,086	28,399	28,327	29,417	27,513	25,248	22,800	20,871
Sales and marketing
88,485	95,118	82,149	83,390	92,694	85,602	85,760	79,834	74,019	70,149	76,386	73,480	75,620	71,175	74,764	74,234	71,815	74,454	74,434	70,782	65,940	68,018	63,838	63,602	64,828	60,379	56,024	58,528	58,130	58,421	49,707	49,269	45,694	43,816	42,714	36,726	37,545	38,217	36,525	36,527	26,724	30,384	24,403
General and administrative
60,800	52,529	53,013	54,183	47,416	50,813	50,498	47,893	50,747	48,285	42,396	44,497	43,253	41,540	39,724	42,570	42,482	44,078	46,220	45,587	45,653	44,716	45,534	44,205	46,457	41,908	38,646	38,413	41,803	43,108	39,570	36,859	37,281	35,465	33,039	32,397	35,155	37,042	32,676	29,165	29,630	27,882	26,523
Restructuring charges/(credits)
-331	675	6,294	30,232	18	14	0	-82	-167	-197	12,856	0	0	0	-	-10	1,255	-	-41	0	0	-39	-210	-688	86	3,215	-56	5,930	0	0	-2	-85	910	368	2,669	-48	0	785	5,655	1,068	118	185	1,278
Total operating expenses
209,040	205,972	201,647	228,213	198,753	195,076	196,758	188,002	184,092	174,681	189,460	177,608	177,214	170,233	173,690	171,771	167,640	171,860	171,234	161,877	168,194	161,289	156,243	153,905	156,169	149,965	136,061	145,786	141,881	143,965	127,233	121,166	118,121	112,475	111,530	103,161	101,099	104,371	104,273	94,273	81,720	81,251	73,075
Operating income
105,945	48,590	51,220	34,256	102,930	68,671	12,554	-7,605	84,603	93,953	21,851	95,932	63,283	66,067	29,085	81,195	82,327	39,188	36,137	44,945	78,607	53,539	58,294	50,576	104,918	59,930	57,100	36,948	84,182	67,032	71,528	68,125	121,046	101,293	112,156	87,905	120,470	109,202	97,191	95,940	132,078	104,172	78,419
Other income/expense:
Interest income
4,721	4,932	5,689	6,551	7,494	5,185	5,810	5,487	3,892	3,781	3,066	2,511	2,186	1,814	1,673	1,464	1,250	1,297	1,100	1,453	1,091	900	811	959	920	654	785	820	904	1,339	1,747	1,513	1,414	1,737	3,739	1,670	1,953	1,614	1,633	1,879	1,954	1,832	2,431
Interest expense
25	72	64	29	32	45	47	87	29	35	33	31	37	26	37	26	33	29	68	69	31	15	-639	251	93	112	71	77	402	25	139	26	5	26	-705	-690	85	283	114	392	112	85	187
Other income/(expense), net
138	1,004	-594	1,022	-390	443	-464	-3,603	-684	-1,152	108	-2,109	762	-199	92	-849	279	-972	27,034	1,049	218	-108	918	530	-2,823	229	1,054	156	188	713	-185	709	60	200	32	186	156	533	-88	655	9	460	-1,644
Total other income
4,834	5,864	5,031	7,544	7,072	5,583	5,299	1,797	3,179	2,594	3,141	371	2,911	1,589	1,728	589	1,496	296	28,066	2,433	1,278	777	2,368	1,238	-1,996	771	-	899	690	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
110,779	54,454	56,251	41,800	110,002	74,254	17,853	-5,808	87,782	96,547	24,992	96,303	66,194	67,656	30,813	81,784	83,823	39,484	64,203	47,378	79,885	54,316	60,662	51,814	102,922	60,701	58,868	37,847	84,872	69,059	72,951	70,321	122,515	103,204	116,632	90,451	122,494	111,066	98,622	98,082	133,929	106,379	79,019
Provision for income taxes
22,100	5,900	12,339	2,163	36,400	-24,100	-9,001	-9,067	22,432	149,705	-1,627	20,117	15,467	14,082	6,734	18,017	16,278	8,473	17,288	11,522	21,353	12,379	14,300	11,251	26,373	15,455	12,784	7,345	22,633	17,582	20,906	18,915	34,198	29,838	37,344	28,404	40,012	24,301	35,295	34,394	47,610	36,886	27,502
Net income including controlling interest
88,674	48,591	43,935	39,637	73,575	98,358	26,854	3,259	65,350	-53,158	26,619	76,186	50,727	53,574	24,079	63,767	67,545	31,011	46,915	35,856	58,532	41,937	46,362	40,563	76,549	45,246	46,084	30,502	62,239	51,477	52,045	51,406	88,317	73,366	79,288	62,047	82,482	86,765	63,327	63,688	86,319	69,493	51,517
Less: net income attributable to controlling interest
178	-162	17	63	135	139	138	143	134	144	145	143	137	200	146	139	147	110	362	350	558	580	421	784	681	731	289	286	328	128	551	-123	197	207	217	299	421	378	-1,684	236	421	407	371
Net income attributable to Dolby Laboratories, Inc.
88,496	48,753	43,918	39,574	73,440	98,219	26,716	3,116	65,216	-53,302	26,474	76,043	50,590	53,374	23,933	63,628	67,398	30,901	46,553	35,506	57,974	41,357	45,941	39,779	75,868	44,515	45,795	30,216	61,911	51,349	51,494	51,529	88,120	73,159	79,071	61,748	82,061	86,387	65,011	63,452	85,898	69,086	51,146
Net income per share:
Basic (in usd per share)
0.88	0.49	0.44	0.39	0.72	0.96	0.26	0.03	0.63	-0.52	0.25	0.75	0.50	0.53	0.24	0.63	0.67	0.31	0.45	0.35	0.57	0.40	0.45	0.39	0.74	0.44	0.45	0.30	0.61	0.50	0.51	0.48	0.81	0.67	0.73	0.55	0.73	0.77	0.58	0.56	0.75	0.61	0.45
Diluted (in usd per share)
0.86	0.47	0.43	0.38	0.70	0.93	0.27	0.03	0.61	-0.52	0.27	0.73	0.49	0.51	0.23	0.62	0.66	0.30	0.45	0.34	0.56	0.40	0.45	0.38	0.73	0.43	0.45	0.29	0.60	0.50	0.50	0.48	0.81	0.67	0.72	0.55	0.72	0.76	0.58	0.55	0.74	0.59	0.44
Weighted-average shares outstanding:
Basic (in shares)
100,854	100,336	100,480	101,218	102,141	102,677	103,349	103,836	103,771	102,552	101,961	101,905	101,787	101,483	101,145	100,533	100,456	100,734	101,934	102,670	102,509	102,303	102,212	102,350	102,292	101,750	101,766	101,751	101,638	102,361	104,077	106,328	108,415	108,884	110,107	111,494	112,140	112,035	112,484	113,254	113,985	114,085	113,261
Diluted (in shares)
102,773	103,078	103,854	103,717	104,587	106,130	111,409	106,950	107,001	102,552	101,163	104,222	103,883	103,876	103,533	102,677	101,555	101,931	103,164	104,105	103,904	104,275	103,460	103,942	103,934	103,192	101,918	103,031	102,680	103,523	104,349	107,202	109,170	109,443	110,808	112,349	113,346	113,713	114,137	115,282	115,995	116,138	115,528
Related party rent expense:
Included in operating expenses
78	70	1,605	13,107	768	880	898	1,017	784	784	783	784	793	782	782	778	756	781	778	815	755	788	793	640	346	346	346	1,494	343	343	343	343	343	343	343	343	343	343	343	343	343	343	378
Included in net income attributable to controlling interest
327	-106	109	111	176	176	177	179	179	177	176	176	175	175	177	179	174	176	628	1,159	1,151	1,153	1,158	1,164	1,250	1,255	1,169	831	904	732	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock, dividends declared (in dollars per share)
0.22	0.22	0.22	0.19	0.19	0.19	0.19	0.16	0.16	0.16	0.16	0.14	0.14	0.14	0.14	0.12	0.12	0.12	0.12	0.10	0.10	0.10	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock, Dividends, Per Share, Cash Paid
0.22	0.22	0.19	0.19	0.19	0.19	0.16	0.16	0.16	0.16	0.14	0.14	0.14	0.14	0.12	0.12	0.12	0.12	0.10	0.10	0.10	0.10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Related party rent expense included in net income attributable to controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	732	632	754	-	-	-	-	-	-	-	-	-
DLB_RelatedPartyRentInControllingInterest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	748	-	-	-	-	-	-	-
Licensing
Revenue
328,865	257,683	264,796	271,897	310,308	260,279	214,699	183,771	272,135	270,172	213,442	278,106	241,617	232,699	-	-	-	211,129	203,325	204,855	243,333	216,598	208,943	205,625	258,616	205,660	191,043	184,707	226,455	204,876	192,154	180,886	227,849	200,424	211,307	181,790	214,627	188,176	178,429	170,326	195,944	165,775	142,141
Cost of revenue
13,243	12,342	16,770	13,290	16,074	11,397	10,603	12,111	10,610	9,259	9,701	12,711	8,796	8,121	-	-	-	6,533	2,264	1,347	3,787	3,481	-1,318	4,389	3,742	4,001	3,314	4,053	6,409	3,080	3,401	2,892	3,303	3,328	3,793	4,095	5,771	3,961	4,283	3,719	5,537	4,026	3,362
Products and services
Revenue
22,950	34,194	34,031	30,262	27,950	42,097	-	31,009	27,587	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenue
23,587	24,973	29,190	26,400	20,501	27,232	20,656	22,272	20,417	21,634	32,582	14,910	13,988	17,720	17,739	14,098	13,978	19,038	19,642	20,027	18,237	12,584	10,191	10,860	10,293	13,788	16,306	16,269	13,206	18,489	20,273	14,529	17,635	13,888	18,779	20,320	20,031	22,198	18,653	23,336	20,622	28,084	13,142