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AGOURA HILLS, Calif. - DTS Inc., which makes audio parts for speakers, DVD players and computers, said Monday it swung to a first-quarter profit, crediting a jump in demand for high definition products.
| DTSI | 17.85 |  1.01 |
For the quarter ended March 31, DTS earned $1.3 million, or 7 cents per share, compared with a loss of $765,000, or 4 cents per share, for the same quarter in 2007.
Income from continuing operations rose to $3.3 million, or 18 cents per share, from $2 million, or 11 cents per share, in the same quarter last year.
Revenue rose 21 percent to $15.2 million, from $12.6 million in the year-ago period.
The results beat Wall Street predictions. Analysts polled by Thomson Financial expected a profit of 13 cents per share on $14.4 million in revenue.
DTS attributed the revenue increase to growth in the high definition optical media markets, mainly related to game consoles and stand-alone players.
Revenue related to high definition products accounted for about 21 percent of the company's first-quarter total, up from 5 percent in the same period last year.
DTS shares rose 21 cents to $28.71 in aftermarket trading, after falling 34 cents to $28.50 in the regular session.
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