DTS Inc. said Wednesday that it expects to report third-quarter net income of 8 cents to 10 cents per share next month, which is within the expectations of Wall Street analysts.
The Agoura Hills manufacturer of digital audio decoders said it had revenue of $13 million to $14 million in the quarter. Analysts surveyed by Thomson Reuters on average expect profit from continuing operations of 9 cents per share on revenue of $13 million.
DTA, which plans to report third quarter results Nov. 10, reiterated its full-year sales revenue forecast of $55 million to $59 million. Analysts are expecting $57.8 million on average.
DTS shares closed down $1.54, or 8 percent, to $18.18 on the Nasdaq, in line with Wednesday's larger market downturn.
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