DTS delayed its Q2 earnings call and 10-Q filing,...
DTS delayed its Q2 earnings call and 10-Q filing, citing unresolved accounting issues over royalty recoveries associated with its buy of SRS Labs last year. The resolution of the matter “may result in additional revenue” or an adjustment to the…
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balance sheet, the company said. Preliminary Q2 financial results showed a loss of $2 million, versus a loss of $755,000 in Q2 2012, DTS said. Revenue jumped 25 percent to $27.2 million, largely on “strong performance” in the company’s network-connected business, said CEO Jon Kirchner. “Due to the complexity and ambiguity of certain rules surrounding accounting for business combinations, we are still working to finalize the accounting for this royalty recovery matter,” Kirchner said. DTS will hold its Q2 conference call “as soon as the matter is finalized,” Kirchner said.