Real Losses At Real Networks - InformationWeek

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Real Losses At Real Networks

2Q losses doubled at the maker of Internet video and audio software, largely due to a one-time charge on excess office facilities.

SEATTLE (AP) -- RealNetworks Inc.'s second-quarter loss nearly doubled as a one-time charge on excess office facilities dragged results down.

The Seattle-based maker of Internet video and audio software reported a net loss of $9.6 million, or 6 cents a share, compared with a loss of $4.9 million, or a penny a share, in the previous year. Included in the results is a one-time charge of $7.1 million, or 4 cents a share.

Excluding the charge, the loss was 2 cents a share, compared with a Thomson First Call consensus estimate for a 1-cent loss.

Revenue growth was driven by an increase in subscription and consumer revenues, while gross margins decreased.

RealNetworks expects modest sequential revenue improvement and a loss excluding charges, but including Listen.com operating losses, of 1 cent to 3 cents a share in the third quarter. Wall Street is projecting a loss of a penny a share for the period.

The acquisition of Listen.com is scheduled to close in the third quarter.

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