DTS REPORTS THIRD QUARTER FISCAL 2016 FINANCIAL RESULTS
CALABASAS, Calif., Nov. 7, 2016 /PRNewswire/ -- DTS, Inc. (Nasdaq: DTSI), a leader in high-definition audio solutions and audio enhancement technologies, today announced financial results for the third quarter ended September 30, 2016.
"Our strong quarterly results reflect the continued successful execution of our long-term strategy across the home, mobile and automotive markets," said Jon Kirchner, chairman and CEO of DTS. "During the quarter we expanded the Play-Fi ecosystem through the addition of Pioneer and Onkyo as hardware partners and announced collaboration with Amazon to bring the Alexa service to our partners in 2017. Our mobile momentum continued as we broadened an already robust partnership with Huawei to launch DTS Headphone:X as a key feature on the entirely new Huawei Nova product line. In automotive, we continued to drive increased penetration of HD Radio technology across North America, as new 2017 model year vehicles hit local dealerships, including the Hyundai Ioniq, Audi A4, Lincoln Continental and more."
Mr. Kirchner concluded, "We remain excited about the opportunities ahead and expect the transaction with Tessera to close in December subject to DTS stockholder approval. We believe that the combination of DTS and Tessera will deliver the world's leading audio and imaging solutions to all of our key markets, driving meaningful value for our customers and partners."