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SAN FRANCISCO - Dolby Laboratories , Inc. (NYSE:DLB), an $8.07 billion audio technology company with impressive 88.65% gross profit margins, saw its stockholders vote in favor of a charter amendment that offers certain officers protection from liability under specific conditions, as permitted by Delaware law. This decision was part of the company’s 2025 Annual Meeting conducted via live webcast on Monday. According to InvestingPro data, Dolby maintains strong financial health with more cash than debt on its balance sheet.
The amendment to Dolby’s Amended and Restated Certificate of Incorporation was detailed in a definitive proxy statement filed with the SEC on December 20, 2024, and became effective with the filing of a Certificate of Amendment on Tuesday, February 5, 2025.
During the meeting, stockholders also elected eight directors to serve until the 2026 Annual Meeting, approved executive compensation, endorsed the frequency of future advisory votes on executive pay to be held annually, and ratified KPMG LLP as the independent auditor for the fiscal year ending September 26, 2025.
Results for the election of directors showed all nominees were elected with Kevin Yeaman receiving the highest number of votes for, totaling 401,881,678. The advisory vote to approve executive compensation passed with 400,557,293 votes for, and the ratification of KPMG LLP as the company’s auditor received overwhelming support with 405,989,852 votes for.
Reflecting the advisory vote’s outcome, Dolby Laboratories plans to hold annual votes on executive compensation until the next required vote on this matter’s frequency.
The Class A common stock, carrying one vote per share, and the Class B common stock, with ten votes per share, voted together on all matters, except as required by law.
This news is based on a press release statement.
In other recent news, Dolby Laboratories reported impressive Q1 2025 financial results, exceeding earnings and revenue expectations. The company achieved an earnings per share (EPS) of $1.14, surpassing the forecast of $1.05. Additionally, revenue reached $357 million, exceeding the anticipated $337.94 million. Dolby’s Q1 2025 EPS of $1.14 surpassed forecasts by $0.09, and revenue increased by 13% year-over-year. The company also repurchased $15 million worth of its own stock, demonstrating its commitment to shareholders.
Dolby’s expansion in mobile licensing, which increased by 74%, played a crucial role in driving revenue growth. Dolby provided a full-year revenue guidance ranging from $1.33 billion to $1.39 billion, with non-GAAP EPS expected between $3.99 and $4.14. The company anticipates licensing revenue to be between $1.22 billion and $1.28 billion. These are recent developments that highlight Dolby’s strong market position and future prospects.
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