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Realnetworks Inc (RNWK) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Realnetworks Inc

CIK: 1046327 Ticker: RNWK


Exhibit 99.1
REALNETWORKS ANNOUNCES FOURTH QUARTER AND YEAR END 2013 RESULTS
RealPlayer Cloud - new cross-platform, cloud-based, integrated video service - gaining traction;
Mobile entertainment business strengthened with new products;
Continued progress in long term strategic transition and growth strategy; and
Cash and short-term investments of $226.2 million

SEATTLE - February 5, 2014
- RealNetworks, Inc. (Nasdaq: RNWK), a leader in personal digital entertainment, today announced results for the fourth quarter and year ended December 31, 2013.
For the fourth quarter of 2013, revenue was $50.6 million, compared to $49.0 million in the previous quarter and $67.3 million in the fourth quarter of 2012. For the full year 2013, revenue was $206.2 million, compared to $258.8 million for 2012.
"During the fourth quarter of 2013, we continued to make progress in our long term strategic transition to revitalize RealNetworks," said Rob Glaser, Chairman and interim CEO of RealNetworks. "Our new RealPlayer Cloud, our groundbreaking, cloud-based video service that makes it easy to watch, save and share video across every popular digital device, is gaining good initial traction in the marketplace, with over 500,000 accounts created since launch.
“In our Mobile Entertainment business, we completed our acquisition of Muzicall and launched LISTEN™ to strengthen our leadership in the ringback tones market and to bring ringback tones directly to consumers. We also continue to tighten our strategic focus to better capitalize on the most promising opportunities in our Games business. Throughout 2013, we’ve continued to streamline our company, invest in our core business segments and focus on building a stronger foundation for future growth and profitability.”
GAAP net income for the fourth quarter of 2013 was $4.1 million or $0.12 per diluted share, compared to $3.1 million or $0.09 per diluted share in the fourth quarter of 2012. The increase primarily reflects a net gain of $21.4 million from the sale of its investment in LoEn in the fourth quarter of 2013. For the full year 2013, GAAP net loss was $(57.4) million or $(1.61) per diluted share, compared to net income of $44.8 million or $1.28 per diluted share in 2012.

Adjusted EBITDA for the fourth quarter of 2013 was a loss of $(6.6) million, compared to adjusted EBITDA income of $3.3 million for the fourth quarter of 2012. For the full year 2013, adjusted EBITDA was a loss of $(23.7) million, compared to a loss $(16.7) million for 2012. A reconciliation of GAAP operating income (loss) to adjusted EBITDA is provided in the financial tables that accompany this release.

As of December 31, 2013, the company had $226.2 million in unrestricted cash, cash equivalents and short-term investments, up from $218.4 million as of September 30, 2013.

Business Outlook

For the first quarter of 2014, RealNetworks expects total revenue in the range of $43.0 million to $46.0 million. We expect adjusted EBITDA for the quarter to be a loss in the range of $(9.0) million to $(12.0) million.

Webcast and Conference Call Information
The company will host a conference call today to review results and discuss the company's performance at 5 p.m. ET/2 p.m. PT by calling 800-857-9789 or +1-210-234-0007 (Passcode: Fourth Quarter Earnings). A live webcast of the call will be available at http://investor.realnetworks.com and an on-demand webcast will be



The following information was filed by Realnetworks Inc (RNWK) on Wednesday, February 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Operations And Comprehensive Income (loss)
Consolidated Statements Of Operations And Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Shareholders' Equity And Noncontrolling Interest
Accrued And Other Current Liabilities
Accrued And Other Current Liabilities (detail)
Accrued And Other Current Liabilities (tables)
Acquisitions
Acquisitions (details)
Allowance For Doubtful Accounts Receivable And Sales Returns
Allowance For Doubtful Accounts Receivable And Sales Returns (activity In Allowance For Doubtful Accounts Receivable And Sales Returns) (detail)
Allowance For Doubtful Accounts Receivable And Sales Returns (additional Information) (detail)
Allowance For Doubtful Accounts Receivable And Sales Returns (tables)
Commitments And Contingencies
Commitments And Contingencies (commitments) (details)
Commitments And Contingencies (litigation) (details)
Commitments And Contingencies (tables)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (narrative) (detail)
Description Of Business And Summary Of Significant Accounting Policies (policies)
Earnings (loss) Per Share
Earnings (loss) Per Share (detail)
Earnings (loss) Per Share (tables)
Employee Stock And Benefit Plans
Employee Stock And Benefit Plans (employee Stock Purchase Plan Narrative) (details)
Employee Stock And Benefit Plans (equity Compensation Plans Narrative) (details)
Employee Stock And Benefit Plans (restricted Stock Unit And Award Activity) (details)
Employee Stock And Benefit Plans (retirement Savings Plan Narrative) (details)
Employee Stock And Benefit Plans (stock Option Activity) (details)
Employee Stock And Benefit Plans (tables)
Employee Stock And Benefit Plans (weighted-average Assumptions Used To Determine Fair Value Of Options Granted) (detail)
Fair Value Measurements
Fair Value Measurements (additional Information) (detail)
Fair Value Measurements (financial Assets Measured At Fair Value On A Recurring Basis) (detail)
Fair Value Measurements (short-term Investments) (details)
Fair Value Measurements (tables)
Goodwill
Goodwill (changes In Goodwill) (detail)
Goodwill (goodwill By Segments And Acquisition) (detail)
Goodwill (tables)
Guarantees
Income Taxes
Income Taxes (components Of Income (loss) Before Income Taxes) (details)
Income Taxes (components Of Income Tax Expense (benefit)) (details)
Income Taxes (income Tax Rate Reconciliation) (details)
Income Taxes (narrative) (details)
Income Taxes (net Deferred Tax Assets) (details)
Income Taxes (schedule Of Unrecognized Tax Benefits) (details)
Income Taxes (tables)
Loss On Exit And Related Charges
Loss On Exit And Related Charges (changes To Accrued Loss On Excess Office Facilities) (detail)
Loss On Exit And Related Charges (tables)
Other Intangible Assets
Other Intangible Assets (additional Information And Expected Amortization) (details)
Other Intangible Assets (schedule Of Intangible Asset By Class) (detail)
Other Intangible Assets (tables)
Quarterly Information (unaudited)
Quarterly Information (unaudited) (details)
Quarterly Information (unaudited) (tables)
Recent Accounting Pronouncements
Related Party Transactions
Related Party Transactions (additional Information) (detail)
Restructuring Charges
Restructuring Charges (details)
Restructuring Charges (tables)
Rhapsody Joint Venture
Rhapsody Joint Venture (additional Information) (detail)
Rhapsody Joint Venture (summarized Financial Information For Rhapsody) (detail)
Rhapsody Joint Venture (tables)
Segment Information
Segment Information (long-lived Assets By Geographic Region) (detail)
Segment Information (narrative) (detail)
Segment Information (revenue By Geographic Region) (detail)
Segment Information (segment Results) (detail)
Segment Information (tables)
Shareholders’ Equity
Shareholders’ Equity (accumulated Other Comprehensive Income (loss)) (details)
Shareholders’ Equity (details)
Shareholders’ Equity (tables)
Ticker: RNWK
CIK: 1046327
Form Type: 10-K Annual Report
Accession Number: 0001046327-14-000014
Submitted to the SEC: Thu Mar 06 2014 4:04:26 PM EST
Accepted by the SEC: Thu Mar 06 2014
Period: Tuesday, December 31, 2013
Industry: Computer Programming Services

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