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DTS Reports Upbeat Results

DTS, Inc. announced financial results for its fourth quarter and fiscal year ended December 31, 2009.

According to the statement, for the fourth quarter of 2009, DTS’ revenue increased 16% to $21.2 million and the company earned $4.8 million ($0.27/share) compared with $3 million ($0.17/share) for the same period in 2008.

As for Blu-ray Disc (BD), “2009 was a strong year for DTS, during which we saw Blu-ray firmly establish itself as the next major physical media format for home entertainment,” commented Jon Kirchner, Chairman and CEO of DTS, Inc. “During the second half of the year, we saw acceleration in the growth of both game consoles and stand-alone players, driven by significantly declining price points, broader content and hardware availability, and expanding, mass-market retail industry support. Further, the growing consumer interest in Blu-ray as a connected home device is setting the stage for an expanded DTS footprint in the online market, across a range of devices including TVs, Digital Media Players, and set-top boxes.”

DTS trades on the NASDAQ under the symbol DTSI.

For more information visit: www.dts.com


Unedited press release follows:

DTS Reports Strong Fourth Quarter and Fiscal 2009 Results

CALABASAS, Calif.–DTS, Inc. (Nasdaq: DTSI) today announced financial results for the fourth quarter and fiscal year ended December 31, 2009.

For the fourth quarter of 2009 revenue increased 16% to $21.2 million. DTS reported net income from continuing operations of $4.9 million, or $0.27 per diluted share. For the fourth quarter of 2008 revenue was $18.3 million and net income from continuing operations was $2.9 million, or $0.16 per diluted share. Results for the fourth quarter of 2009 included $1.4 million, or $0.05 per diluted share net of tax, in stock-based compensation expense and $225,000, or $0.01 per diluted share net of tax, in amortization of intangible assets associated with the Neural Audio business acquisition.

For fiscal year 2009, revenue increased 29% to $77.7 million, which included $17.2 million in royalty recovery payments. Net income from continuing operations for fiscal year 2009 was $10.7 million, or $0.60 per diluted share. For fiscal year 2008, DTS reported revenue of $60.2 million, which included $5.5 million in royalty recovery payments, and net income from continuing operations of $9.5 million, or $0.52 cents per diluted share.

During the year, the Company generated $21.9 million in cash from operating activities and closed the year with cash, cash equivalents and short-term investments of $75.4 million.

“2009 was a strong year for DTS, during which we saw Blu-ray firmly establish itself as the next major physical media format for home entertainment,” commented Jon Kirchner, Chairman and CEO of DTS, Inc. “During the second half of the year, we saw acceleration in the growth of both game consoles and stand-alone players, driven by significantly declining price points, broader content and hardware availability, and expanding, mass-market retail industry support. Further, the growing consumer interest in Blu-ray as a connected home device is setting the stage for an expanded DTS footprint in the online market, across a range of devices including TVs, Digital Media Players, and set-top boxes.

“Looking into 2010, we are excited about continued growth of the Blu-ray format. Additionally, we are optimistic about our expanding opportunities beyond Blu-ray as we bring a range of new virtual and enhancement technologies to the consumer electronics and PC markets. We are planning for 2010 revenue to be in the range of $80 to 83 million, operating margins in the high 20s, and earnings per share to be in the range of $0.73 to $0.78,” concluded Kirchner.

Conference Call Information
DTS will broadcast a conference call today, Monday, February 22, 2010, starting at 1:30 p.m. Pacific Time. To access the conference call, dial 877-941-2068 or 480-629-9712 (outside the U.S. and Canada). The live webcast of the call will be available from the Investor Relations section of the Company’s corporate website at www.dts.com. A replay of the webcast will begin two hours after the completion of the call. An audio replay of the call will also be available to investors beginning at 3:30 p.m. Pacific Time on February 22, 2010 through March 1, 2010, by dialing 800-406-7325 or 303-590-3030 (outside the U.S. and Canada) and entering the pass code 4202162#.

About DTS
DTS, Inc. (NASDAQ:DTSI) is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of multi-channel surround processors, and there are hundreds of millions of DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and game console products, as well as DVD-Video, Blu-ray Disc and surround music software. Founded in 1993, DTS’ corporate headquarters are located in Calabasas, California with its licensing operations headquartered in Limerick, Ireland. DTS also has offices in Northern California, Washington, Canada, China, France, Hong Kong, Japan, South Korea, Taiwan and the United Kingdom. For further information, please visit www.dts.com.

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