DTS says its second-quarter earnings were so strong its board has approved a quarterly cash dividend of $0.02/share. DTS Chairman/CEO Jon Kirchner says the momentum across mobile and automotive was so strong the company is raising its full year 2016 revenue outlook.
“These actions reflect our confidence in the future of DTS and our ability to create long-term value,” says Kirchner.
The company now expects revenue in the range of $185 to $190 million.
DTS reported revenue of $48.7 million for the second quarter; that’s compared to $34.4 million for the same period a year ago.
GAAP net income was $4.7 million, compared to $2.3 million for Q2 2015.