Orlando, FL 11/18/11 (StreetBeat) --Entertainment technology company Dolby Laboratories Inc. (NYSE: DLB) said Thursday its fiscal fourth-quarter profit rose 22 percent as its licensing revenue increased.In the three months ended Sept. 30, Dolby said its profit climbed to $79.1 million, or 71 cents per share, from $65 million, or 57 cents per share. Revenue increased 7 percent, to $243.8 million from $227.8 million.
Dolby said its profit was $89.9 million, or 81 cents per share, excluding one-time items. On that basis, analysts expected the company to report a profit of 59 cents per share, according to FactSet. They expected $229.6 million in revenue.
The company said the broadcast market improved, which helped its licensing revenue grew 15 percent to $205.7 million. Its servicing and product revenue fell compared to a year ago.
For the full fiscal year, Dolby said its net income grew 9 percent, to $309.3 million, or $2.75 per share, from $283.4 million, or $2.46 per share. Revenue rose 4 percent, to $955.5 million from $922.7 million.
The company forecast adjusted profit of $2.71 to $3.02 per share in fiscal 2012, and revenue of $910 million to $970 million. Analysts are expecting profit of $2.65 per share and $978.7 million in revenue on average.
Shares of Dolby Laboratories are currently trading +16% at $32.25 per share.
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