DTS to Sell Cinema and Digital Images Business
On Tuesday, DTS, Inc. announced a decision by its board of directors to sell off its cinema and digital images business, now known as “DTS Digital Cinema,” and focus instead on the licensing of branded entertainment technology to a number of markets, including audio, game console, PC, portable and broadcast segments. The sale is expected to be completed later this year.
The announcement came in the midst of the company’s financial report for Q4 and the fiscal year 2006. The corporation reported that it restructured its international licensing and DTS Entertainment activities and bought out a Chinese intellectual property commission agreement with an eye toward improving future performance.
For 2006, DTS total revenue reached $78.3 million with a net income of $3 million. Total revenue in 2005 was $75.3 million with a net income of $7.9 million.
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