44% rise in DTS profits to €12.2m

PRE-TAX profits at the European HQ of entertainment technology firm, DTS increased by 44% to €12.2m in 2009.

The US-owned DTS Inc established its European headquarters at the National Technology Park, Limerick, with the creation of 50 jobs in 2008.

Accounts recently filed by DTS Licensing Ltd to the Companies Office show that it increased its revenues by 14% from €34.3m to €39.1m in the 12 months to the end of December 2009.

The Limerick facility has responsibility for licensing, management, administration, business development, marketing, sales, finance and potentially research and development and engineering.

According to the directors’ report, they “are satisfied with the results for the year and anticipate further growth in the coming year”.

The directors add that they “are confident that during the coming year turnover will be increased and profitability will be maintained”.

The directors state that “DTS Licensing Ltd operates as the global licensing headquarters of the DTS Group for the management and exploitation of the group’s non-US and China intellectual property.”

DTS first introduced its revolutionary audio technology in 1993 with the release of the blockbuster feature film Jurassic Park.

Since then, many major film studios adopted the DTS format for use in cinemas around the world. DTS established a technical and marketing platform for the development of entertainment audio technology solutions for the motion picture, home theatre and other related consumer industries.

Operating profits last year were €12m compared to €8.48m in 2008. It had accumulated profits of €14m at the end of 2009.

The company’s bank interest payments in 2009 were €194,984 compared to €29,081 in 2008.

At the end of 2009 the company employed 31 people with 15 engineering and R&D staff and 11 in sales, marketing and business development with five administrative staff.

The accounts show that the company’s payroll costs in 2009 increased from €2.29m to €2.34m with the directors’ aggregate remuneration coming to €139,563.

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