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What: Shares of DTS (NASDAQ: DTSI) have jumped today by as much as 14% after the company reported earnings.
So what: Revenue in the first quarter came in at $32.7 million, which was ahead of the $29.9 million consensus forecast. Non-GAAP earnings per share was $0.22, also beating the Street's best guess of $0.14 per share. The company's network-connected business was strong but partially offset in declines in the DVD-based business.
Now what: Guidance was better than expected. Revenue for 2013 is expected in the range of $140 million to $146 million, which is ahead of the $136.8 million consensus. Adjusted earnings per share should be $1.05 to $1.20, while the market thought just $1.03 per share was in order. CEO John Kirchner said the network-connected segment is gaining momentum.
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