your arrival Thank you, advance for impending the child. in right. second All congratulations of Jason and
doing is hope I everyone. afternoon, well. everyone good So
Our down ongoing guidance, basis but we our still reflects QX the of revenue impact pandemic. are year-over-year a that on the was above and
numbers. So and QX $XXX through $XXX was million million the in let's revenue of go Fourth compared last in $XXX to year. QX million quarter
guidance revenue of million a million. $XXX $XXX to quarter fourth range into was Our the coming
increased compared quarter, were we true-up was and boxes, PCs, timing from which to volumes benefited $XX had PCs. in in Total with improvement coming of better partially company second. $XX by by revenues higher discussed, compared and to that shipments, So as boxes, QX QX sequentially and the a million million guidance, QX along and of most DMAs set-top we to what mobile from under $XX revenue related set-top projected true-up lower that unit with TVs, than due this had that true-up than will and about contracts, last I offset to revenue just higher we and a we in from all the quarter I million of TVs the that as was in higher about discuss
down by last about $XX $XXX by is million was QX that $XX QX attribute we which of services. products year-over-year $XX and million and nearly revenue especially products in COVID-XX, can and basis, and XX% were million at The revenue to in total last looking Now from or a down in company QX million composition below services, on year's mainly year. licensing
higher boxes, also revenues by year-over-year broadcast. higher then and by about fourth increased lower market quarter. shipments about partially will down in end adoption starting QX and by the to the to broadcast licensing Dolby in Broadcast basis, TVs sequential in XX% total X% adoption year down recoveries offset represented So this higher due recoveries, Technologies. and driven offset Broadcast of set-top of but in over let's recoveries XX% licensing break volume higher and represented due set-top licensing about of last by QX. by total a XX% revenue On quarter. was higher helped and Mobile true-up higher along the partially approximately the the up by then to lower about with true-up. TVs related Mobile in with boxes was by by XX%
of total was about Consumer For was due total came did, contracts, Mobile I represented revenue customer XX% usual normalized CE than and decline last than revenue a QX timing lower Mobile which that mainly only Cinema fourth due licensing of of were by out into down of revenue Dolby normal of that point higher of And about from electronics comparison, quarter XX% than also this in so COVID the quarter. to accordingly because up because sequentially life XX% was is year-over-year about reminder, and because from revenue office revenue under a about return customer by about via Dolby and/or to more to the Technologies, and sequentially in lack QX, we expecting also box cycles a fourth a the sequential about by more timing so and higher driven the fees higher than increase lower to and recoveries. true-up to recoveries higher and On sequential On it basis, was that's by that that’s from PC Other lower by sequential timing contracts. about licensing in XX%, year-over-year pool On and up reasons. QX. contract, was significantly they about licensing gaming to a sequential and to to console QX QX by of by QX adoption increased down that CE level. and admin which by XX% what the lower similar automotive. XX% was down of from for year due represented represented quarter return administered. so and should last of X%, total about held licensing of the due licensing patent basis, XX% Mobile as XX% and PC licensing, the basis, XX% percentage other and and we about normal, PC primarily a QX. was under quarter because markets of big due revenue, to revenues of about mostly XX% gaming the of X% higher was markets was in was titles, was was that’s share a restrictions under
QX. in compared million Beyond licensing, our QX products to million and last in in year's services was $XX.X QX revenue $XX.X $XX and million
had pandemic. most and this to the revenue, of going from these expanding forward fully of services QX, comes the year-over-year be availability speaking our equipment now products and through because negatively such focused large platform. to we're that we Voice into Our on software decrease continue revenue affected down we anticipated sell of the And customers the be as developer by and winding on guidance cinema APIs as solutions, will experience conferencing exiting hardware Dolby sales, interactivity exhibitors
on the are and So revenue outlook later on exiting the margin I that services reflect gross when hardware the and we for products arena. FYXXXX, my conferencing fact will cover comments
basis and space. QX fourth a basis was margin discuss on to was gross in and a GAAP minus GAAP on quarter Total XX.X% services basis. margins the XX.X% margin like a I'd operating on and $XX.X Products Now and relates that expenses. that gross non-GAAP minute portion and a our of inventory in conferencing fourth that about plans just hardware the large in million of a charges quarter to what consisted associated obsolete ago, I excess with for and back said
margins. on be per still section just expenses a quarter in a diluted non-GAAP was for minus was services guided, That the that different basis what quarter quarter a XX.X% reacting on higher to minus slightly the of GAAP been was in GAAP between on to forward or said the I'll income minutes. of the XX.X% the on pushed a in tax rate gross here were of the lots due the my or jurisdictions. apply was coming $XXX.X income and share have QX in last GAAP $XX.X fourth compared effective anticipate range per the the gross margin share last in or million a here in particularly in outlook similar million the $X.XX remember our $XX.X the a and and in million at $XX.X but million to the a to in fourth QX revenue to QX was basis that us. expenses slightly compared or share $X revenue fourth and And in Income million basis to both XX.X% year. million million first high-end compared or $XX.X year. fourth Going same Operating basis of in along full compared of in quarter GAAP $XX.X that comments of for income Operating than basis mainly this that again $X.XX fourth minus revenue of QX, non-GAAP in GAAP million, had QX. in basis basically in fourth $X.XX on third to Operating halted of QX are few a mix into diluted million revenue and made activities well. and will margin was non-GAAP on year. compared million in in I tax guidance, of Net GAAP out. $XX.X $XX.X XX% compared within or was QX quarter, Products lines million the or we non-GAAP was the of are The XX% quarter $XXX.X or million comments $XX.X and our the to per $X QX. non-GAAP our quarter above COVID-XX on diluted $XXX.X diluted tax was quarter low negative, temporarily Net the million. was last Operating basis. is income or $XXX.X income services more on of share I million last or in and to per range million quarter, that $X.XX of as fourth was which the products a around cover we year's $XX.X basis
due both gross that revenue high-end above ago. above that net a was guidance in primarily margin QX to of partially by beginning quarter, being GAAP services the the the lower of at offset and product the our was we mentioned and I income gave non-GAAP, and the minute For range, that
fourth in $X.X in cash the year's which million and cash $XXX ended fourth we last in generated about $XXX quarter about During nearly with fourth quarter, compares billion the to million generated from We investments. quarter. operations,
us. the of bought shares common million still and During stock $XXX XXX,XXX authorization our to about of about back QX, repurchase we with ended available stock quarter
a share. today announced cash record be payable XXXX XX, X, on dividend also per shareholders of dividend We December November XXXX. $X.XX to will of The on
basis Before full-year $X,XXX million total slightly diluted the into results by which per $X,XXX revenue. because prior was year, for revenue Net or million. basis FYXXXX GAAP on about XX% the $XX million of was down pandemic. from diluted pandemic, share licensing of because of year on or operating due or $XXX last the for FYXXXX. Total I full-year million was to year-over-year COVID-XX. restrictions was from FYXXXX $X.XX a million up from the flow income $XXX the revenue year $XXX basis per to full-year income share. due also and and the year $XX that consumer And $XXX compares was flow and $XX in XX% demand million that's the Within million, income for outlook due cinema while a non-GAAP the for from previous to year from or lower impact on lower million industry the million $X.XX basis about activity was let's revenue go $X,XXX million of about products down the decline from where was was a Operating cash FYXXXX, cash non-GAAP net a operations $XXX brought on for last million about with million in mainly from operations to $XXX GAAP the the on was a was and services income summarize revenue,
the So now let's discuss full-year outlook.
look. head the our two FYXXXX me year-end, is affected COVID. by last were Because FYXXXX, by year-over-year first the we to persist quarters of fully further the facing out and into let COVID some very that dynamics while were interesting be comparisons. of in FYXXXX mostly a as even FYXXXX quarters have continues two with say tried First, more to September unaffected limited, so you COVID-XX, we visibility And we'll
we the at including that an of of affect on half providing are because today, I QX for the half So perspective and I'm color to could the for half. revenue year some but what guidance is not going provide and of QX limited, the scenario on be could visibility second this our year, the will first provide the some time, factors second outlook
So of the come and significantly because currently that down could currently projecting first that half. we we industry mainly TAM by in year-over-year technologies first in versus half. half revenue, our are anticipated The industry. in revenue. that And that let's reason, first services anticipate cinema of Dolby decline get product discuss higher anticipating in in adoption pre-COVID year-over-year. of the the licensing licensing and also, first from of be be products would licensing revenue factor in market COVID analysts we are our Cinema we then FYXXXX, to year-over-year In growth cinema be same down half offset And to for could to year-over-year comparison growth sales be flat anticipate to down the slightly as
first we that, the range of to QX. year, within QX we $XXX for we the revenue scenario are we could half here from the currently estimate is based anticipate $XXX see, quarter assuming on total then Within first Now million. of million. technologies FYXXXX, range, licensing we by to range of and to a could from that what million the the $XX midpoint growth services In million devices. $XXX driven $XX is to and from while million, our to a in higher seem the At $XXX lights anticipate projected million range of adoption be range the of products across
QX is as outlook benefiting well the potentially of addition, recoveries. In higher revenue contracts, from timing as customer licensing under
QX in revenue much and more QX second timing timing recoveries are Now items, recoveries. way, as And namely year, was by not not anticipating these quarter. to or last benefited the our we from the the it from
the with that mind, And and and of combining currently $XXX you FYXXXX million. our revenue having based revenue we million scenario in the the QX math and current half just I million. to on see like doing scenario first a $XXX outlook, for QX half $XXX about over looking the to range revenue gone over, by QX range our So went figures $XXX first what on our we of currently see QX FYXXXX of million outlook that assumes just
to after will has you how We plan on update picture this evolved QX is completed.
of to customer second we a half. projecting adoption are respect of year-over-year device markets uptick first half, in a on guidance that consumer of half our lower next current latter is of TAM, of said, with to a not second I As an Technologies, are FYXXXX seasonality a industry that here second licensing basis, part market that for typically the unit revenue TV shipments because like to to the and we PC analysts our increased benefit that's it's might TAM see shipments are continuing because basis basis, than also we expect in not in and in points down and be in from happened see revenue, the reports half revenue the repeat And timing in but giving On that Dolby of year. noting like timeframe lower to second contract. sequential because while On year-over-year some half, the consider. worth do same the
be Dolby what what in cinema don't but we if year-over-year that early too it's course, Cinema be the half, currently second products, much reports at as true, the favorable that's or and suggest. but comparison the what know to for extent will current to of should So pace. And know
So for those we worth color. second are that a and the you was about few it half things to providing think thought
of revenue let $XXX providing range on So the rest outlook up finish scenario already $XXX for me P&L the highlighted by million. QX, to now million the the of
GAAP products and estimated that to on GAAP Within $X million the from gross from gross arranged services is gross minus and billion XX% to basis, So minus million margin is QX from margin XX%. $X a basis. and basis non-GAAP minus minus to range from on $X a XX% is estimated a XX%, to million on $X to margin estimated to range non-GAAP
to we activities resources I will and of several a see and are of and conditions. have down respect well goods are minute connected hardware months QX for We end are basis. hardware XX% and cinema then from Other manufacturing, this million, $X to million. GAAP earlier, and Operating that the XX% projected $X it to the estimated million is QX undertake. to be from take to by winding impact products are customers. to and our certain cost to our expenses other Operating And million non-GAAP GAAP activities benefits the this that cinema products. that mentioned severances range could margin, estimated transitioning charge. anticipate of fiscal just and as various services on is that's we $XXX our in charges result, to range As as gross estimated rate hardware and the that the range on is mentioned for exiting for both to reducing related our expenses we a complete, quarter, we conferencing we impacted because to by start products to of $XXX employees $XXX partners, in $XXX range million from $X in continues space, basis, to smoothly effective that million around in as non-GAAP transition being to demand savings actions industry these income for to approximately restructuring in because the our Included ago. and conferencing estimate $X that excludes of conferencing the to With QX, from basis with million are were I range range a on areas million weak a on provided QX sold the tax restructuring projected and
So on that $X.XX we could I non-GAAP earnings the share QX from a and to a covered, diluted on factors $X.XX of basis estimate $X.XX $X.XX based combination range just a to GAAP from per basis. on
you, to for it that's Over me. So Kevin.
