SRS Labs publishes revenue results

SRS Labs, a provider of surround-sound, audio and voice technologies, reported revenues for the first quarter ended 31 March 2010 of $8.4m (£5.4m), a 47 per cent increase from $5.7m in the same period a year ago.

Operating expenses in the first quarter increased 29 per cent to $6.9m from $5.3m in the prior-year quarter.

Net income in the first quarter increased almost threefold to $1.5m, or $0.10 per diluted share – an improvement from a net income of $386,000, or $0.03 per diluted share, in the first quarter of 2009.