SRS Expects Lower-Than-Predicted Earnings

SRS Labs Inc. said Friday it expects second-quarter earnings and revenue to be below analysts’ expectations.

The company cited delays in available semiconductor “solutions” for its SRS 3D Sound technology, as well as a traditionally soft market in the first calendar quarter, resulting in soft second-quarter revenue.

The company said second-quarter earnings will probably surpass the $694,975, or 7 cents a share, earned in the first quarter.

Analysts had estimated that the company would earn 10 cents a share in the second quarter.

SRS said it expects revenue to be “relatively flat,” compared with first-quarter revenue of $2.2 million.

A spokeswoman said SRS’ net income for the second quarter last year totaled $290,000 on revenues of $1.1 million.

The company, which went public in August, said it expects to disclose final results for the second quarter during the week of July 28.