Okay. Thanks, Jason. everybody. Good afternoon,
a revenue ASC beginning the under XXX. accounting year, the adopted XXX us use reminder, and full and previous standard we that method year's revenue we this retrospective required As recast new to
last figures published adjusted, XXX we and under In our the earnings FY table release, we've included that a as quarterly 'XX this table that shows revenue the same is quarter.
are respect numbers. any comparisons to re-casted XXX So to the revenue make year with I prior numbers
as prior due and the QX in portion a XXX of XXX, quarter worth was impacted it's of originally by to quarters the the shifting under large that quarter noting out year with years last reported that think prior XXX. I revenue i.e. of recast, most
of let’s million, was revenue year's in and into while the million to services million was $XXX numbers. the and compared jump quarter quarter $XXX $XX QX for 'XX, last QX. $XXX third Licensing million the revenue million. FY total $XXX was In So, in products
services was of licensing line Our was million midpoint in revenue $XX guidance. about while products below and the with expectations, original
breakdown year-over-year, represented total further a ago, of XXX I last tough XX% third licensing were about and a impact particularly Here's QX by XX% is the end-markets. to because quarter. the as comparison, to about on of Broadcast in up second quarter alluded QX discuss year's a of licensing revenues recast numbers. the of Broadcast year-over-year
But course a having to boxes models Dolby said more that's that, adopted of ongoing TV Technologies set-top I in revenue year-ago we that and and something focus noting were growth. they than it's the think the on worth are now drive
sequential due a mostly up were XX% recoveries. of third On Mobile total quarter. Broadcast the represented was that XX% about devices and approximately higher in to revenues licensing basis,
what ago. that similar can widely that also I XXX% a more were today to was XXX year into they year-over-year is mobile Year-over-year the affecting and the say in adopted Dolby device are than about recognizing Broadcast mobile recast up said comparison, I Technologies
Consumer revenue third and electronics in down On about about of about was to sequentially. revenue licensing contracts. represented decreased licensing of mainly basis, due CE a the XX%, up by timing sequential XX% under licensing total year-over-year X% were our about XX% Mobile quarter.
sound partially equipment. decline was home Year-over-year timing under offset volume bars the was from we from DMAs. saw And revenue higher theater contracts, and by higher sequential which of driven from by revenue
mix. aside comparison, in see PC was third by about total the recast affected ASPs continuing quarter. downward again, from on up X% due this XX% licensing but and represented the pressure we that, of XXX our year-over-year about PC PC to
to XX% and technologies timing starting was PC of somewhat a by and i.e. under mostly down sequential to our adopt revenue being PC Atmos is basis, due this On Dolby And revenue about Dolby newer offset by this contracts. Vision. is
Other X% licensing the about basis Dolby in and up mostly third other our about Dolby X% They Cinema by from quarter. in increased about markets, gaming. by by were licensing sequential on represented year-over-year, other a total Cinema driven markets of revenue by XX% licensing increases, and
QX services $XX revenue $XX and million year's last million and Products was $XX million QX QX. compared in to in in
QX As I we mentioned less was than million guided. earlier, of product about revenue midpoint had what $XX the
Dolby full-year than in our and when China products of outlook newer expected minute seeing, of the We offerings in we're products saw less lower more a from we some product sales, on Cinema what had than outlook. for review we full forward sales that be on projected. lowering revenues and ramp our Cinema Voice the was both Based from will I
decrease third Let's XX.X% inventory in charges the to now was obsolescence. third GAAP the quarter review a basis for non-GAAP was XX.X% basis. on and operating margin GAAP in services basis margin higher Total XX.X% on due indeed compared gross was QX, the on expenses. and XX.X% Products excess mainly gross a in margins and to a and quarter
QX, Products XX.X% gross just and to reason I margin for margins. GAAP said, quarter a decrease non-GAAP XX.X% services compared with the for was the what and in third the basis on in is consistent
we that of million Operating $XX million included the expenses with quarter. basis And exited. a charge that building facility that third of in the million expenses, the $XX of about QX compared assets least this a to $XX.X a million, second for exited million GAAP total quarter. The associated $XX $XXX.X of quarter in restructuring write-down $XXX.X were we on non-cash the at million fixed during was represented GAAP
a resources related our for the quarter, we group eliminated during programs. $X for and as severances in we other the benefits was the as that reorganization part of a The reallocated future marketing in million of positions marketing charge for number of investments restructuring and
QX of on XX.X% revenue or Moving $XX.X QX recast, to while the an in compared note year compared by third in operating XXX non-GAAP. and prior as of the for quarter. because affected the basis expenses second the to non-GAAP $X.X of loss were the Operating that significantly, million Operating last in GAAP number $XXX.X the quarter were million changed in expenses to unaffected million XXX largely $XXX.X by recast quarter operating a part million of was a revenue QX income on was that basis recast. the of year
basis. GAAP that of quarter. and X.X% basis was was a The on in tax revenue or was both were XX.X% X.X% $XX.X year. of rate non-GAAP a the And QX million rates a on benefited third those of income in non-GAAP from XX.X% of tax in million to QX items discrete last basis in Operating compared revenue on or $XX.X effective income recorded QX it
the income $XX.X GAAP or $XX.X diluted to or share third was $X.XX $X.XX $X.XX the or quarter a compared per basis in on last million QX per in third diluted $XX.X share per or diluted share share a basis diluted million year's of income quarter last compared was non-GAAP Net on per Net in to $X.XX QX. in $X.X million million year.
ended back and with about authorization of cash investments. $X stock shares little million in the operations $XX with quarter, about and in ended in our repurchase million quarter the third over a X.X We of $XX QX still available. the During generated stock and quarter from bought million common we billion cash
about the $XXX as Directors an of authorization our approved $XXX we of Board that announced has press available, us repurchase additional giving In million today, today. million, total a of release stock of new
dividend XXXX. which per of be today XX, record also XX, on a $X.XX We announced to share, XXXX payable August shareholders cash will of on August
So now let me full-year. with cover the starting outlook, the
guidance licensing For of FY revenue. midpoint 'XX, our we are for slightly raising the
products and guidance minutes our for we mentioned services lowering So, are few a as I revenue, ago.
for to year range products billion. revenue So the services will Within total, and billion, the while that to $XXX accordingly, will we billion $X.XX are $X.XX licensing anticipate from billion estimated range range $X.XX to we $XXX million million. from total to now from estimate that $X.XX
outlook. Here the are are assumptions into factors year that incorporated certain and full
market We we are in grow, the as that more boxes, in in set-top our anticipating earlier quarterly and that broadcast mentioned Technologies the even incorporated comment. Dolby TVs revenues I and see will
offset but are organic year-over-year newer by mobile more see is XXX Consumer that growth In due grow penetration from by will the is to by and helped mix, we of adoption to PC, pressure and mobile licensing projected comparison the to further impacted of expect we technologies. and continue will increase some downward modestly recast. also seeing be revenues to ASPs electronics
those finally We a revenue Voice is paid Dolby expect Gaming, growth Dolby products it and with of growth connection the element and that we in in services, upfront, products in as that this relates and on are full-year do anticipate for other Cinema, licensing Dolby fixed as from previous include discussed transactions and side and note, calls. Cinema Cinema in and I growth amounts Dolby or an the committed Cinema, product to
are XX% is non-GAAP on be year GAAP or to a on or million a plus the a minus projected income $XXX $XXX to $XXX and basis range million $XX for for on Gross to basis. margin from Operating plus range projected GAAP estimated to XX% million basis about around $XX year. and Other expenses minus to the on $XXX is from million million non-GAAP a million to from basis.
and range The is from for year X% XX% tax effective that income expected range recorded the to this expected non-GAAP that to effective on includes to US adjustments year tax reform. the to basis to the discrete year XX%. And income tax we from related that a XX% rate GAAP for rate is
projected 'XX, we anticipate that $XXX million. million revenue products from will million to that Within from $XXX to million, will range FY So $XXX services while $XX is licensing that, total for from of $XXX to estimate we QX $XX range million. and range to million
from non-GAAP QX QX around expenses or and on GAAP to around gross a million margin, non-GAAP be XX% and margin $XXX basis. range $XXX in from million is to estimated be GAAP basis, Operating gross projected minus. basis to million plus a on million on a $XXX XX% $XXX estimated to
quarter. from is to $X projected for income other And million to the $X range million
XX% for effective projected to to non-GAAP rate Our range QX is from on basis. XX% the both GAAP and tax
over, I So $X.XX of and we non-GAAP earnings GAAP based went $X.XX share the on basis. diluted to will to a on factors from per estimate range $X.XX $X.XX on QX the combination basis just from
with to So would Kevin? Kevin. I over turn that, it to like
