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首页 > 网络视频 > 其他 > RealNetworks Announces Fourth Quarter and Full

RealNetworks Announces Fourth Quarter and Full
来源: | 作者: | 人气: | 发布时间:2020-10-30
摘要:


  SEATTLE, Feb. 7 /PRNewswire-FirstCall/ -- Digital entertainment services company RealNetworks?, Inc. (Nasdaq: RNWK - News) today announced results for the fourth quarter and year ended December 31, 2007.

Quarterly Highlights: -- Record revenue of $156.9 million -- Net income of $2.7 million or $0.02 per diluted share -- Adjusted EBITDA of $15.7 million Full-year 2007 Highlights: -- Record revenue of $567.6 million -- Net income of $48.3 million or $0.29 per diluted share -- Adjusted EBITDA of $53.9 million

"2007 was a strong year for RealNetworks," said Rob Glaser, chairman and CEO of Real. "We crossed half a billion dollars in revenue for the first time, and more than doubled our adjusted EBITDA. We formed deep alliances with Viacom''s MTV Networks and Verizon Wireless, continued to lead in casual games, and introduced the innovative RealPlayer® 11."

For the fourth quarter of 2007, revenue grew 25% to $156.9 million compared with $125.6 million for the fourth quarter of 2006. Revenue growth in the fourth quarter of 2007 compared with the fourth quarter of 2006 was due to: a 29% increase in Games revenue to $30.9 million; a 21% increase in Music revenue to $40.5 million; a 59% increase in Technology Products and Solutions revenue to $59.9 million, due in part to the acquisition of WiderThan during the year-ago fourth quarter; and a 16% decline in Media Software and Services revenue to $25.6 million. Foreign currency exchange rate fluctuations positively affected 2007 fourth quarter revenue by approximately $2.4 million compared with the fourth quarter of 2006.

Net income for the fourth quarter of 2007 was $2.7 million or $0.02 per diluted share, compared with $39.3 million or $0.22 per diluted share in the fourth quarter of 2006. Results for the fourth quarter of 2006 included payments related to Real''s antitrust settlement and commercial agreements with Microsoft. The final payment was received under these agreements during the first quarter of 2007. Further information regarding these payments can be found in Real''s SEC filings.

Adjusted net income, described below in Real''s description of non-GAAP financial measures, was $12.9 million, or $0.08 per diluted share, for the fourth quarter of 2007, compared with $10.2 million, or $0.06 per diluted share, in the fourth quarter of 2006. Adjusted EBITDA for the fourth quarter of 2007 was $15.7 million compared with $9.1 million in the fourth quarter of 2006. A reconciliation of GAAP net income to adjusted net income and adjusted EBITDA is provided in the financial tables that accompany this release.

Gross margin was 61% in the fourth quarter of 2007 compared with 66% in the fourth quarter of 2006. Operating expenses for the fourth quarter of 2007 were $121.1 million, compared with $31.1 million in the fourth quarter of 2006. Operating expenses in the fourth quarter of 2007 included $16.6 million of related party advertising in Rhapsody America, and operating expenses in the fourth quarter of 2006 included benefits related to payments under Real''s antitrust settlement and commercial agreements with Microsoft.

As of December 31, 2007, Real had approximately $556.6 million in unrestricted cash, cash equivalents and short-term investments and $100 million of convertible debt.

Under Real''s current stock repurchase program, approximately 5.6 million shares were repurchased for $36.6 million during the fourth quarter of 2007, completing the stock repurchase program authorized by Real''s Board of Directors.

Full Year 2007 Results

For 2007, revenue grew 44% to $567.6 million compared with $395.3 million for 2006. Revenue growth was due to: a 26% increase in Games revenue to $108.5 million; a 21% increase in Music revenue to $149.1 million; a 185% increase in Technology Products and Solutions revenue to $206.6 million, due largely to the acquisition of WiderThan during the year-ago fourth quarter; and a 9% decline in Media Software and Services revenue to $103.3 million. Foreign currency exchange rate fluctuations positively affected 2007 revenue by approximately $6.2 million compared with 2006.

Net income for 2007 was $48.3 million, or $0.29 per diluted share, compared with $145.2 million, or $0.81 per diluted share, in 2006. Results for 2006 included payments related to Real''s antitrust settlement and commercial agreements with Microsoft.

Adjusted net income for 2007 was $41.5 million, or $0.25 per diluted share, compared with $28.2 million, or $0.16 per diluted share, in 2006. Adjusted EBITDA for 2007 was $53.9 million compared with $20.7 million in 2006. A reconciliation of GAAP net income to adjusted net income and adjusted EBITDA is provided in the financial tables that accompany this release.

Gross margin was 62% in 2007 compared with 69% in 2006. Operating expenses for 2007 were $346.8 million, compared with $80.6 million in 2006. Operating expenses in 2007 include $24.4 million of related party advertising in Rhapsody America, and 2006 operating expenses included benefits related to payments under Real''s antitrust settlement and commercial agreements with Microsoft.

Business Outlook

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