Dolby Laboratories, Inc (DLB), the audio technology licensor said third quarter revenues rose 34% to $230.3 million from $171.2 million a year ago. Net income in the quarter rose 24% to $63.5 million or 55 cents per diluted share compared to net income of $51.1 million or 44 cents per share a year ago.

Dolby Laboratories, Inc, in the last one year traded as high as $70.14 in June 2010 and as low as $36.44 in September 2009. Based on the yesterday’s closing price of $65.84 the company has market cap of $7.47 billion.