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Realnetworks Inc (RNWK) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Realnetworks Inc

CIK: 1046327 Ticker: RNWK


Exhibit 99.1
REALNETWORKS ANNOUNCES FIRST QUARTER 2017 RESULTS
SEATTLE - May 3, 2017 -

Revenue stability, with year-over-year revenue growth for first quarter;
Reduced year-over-year operating expenses by $6.5 million in first quarter; and
Investing in key growth initiatives

RealNetworks, Inc. (Nasdaq: RNWK), a leader in digital media software and services, today announced results for the first quarter ended March 31, 2017.
For the first quarter of 2017, revenue was $30.6 million, up from $28.2 million in the first quarter of 2016. For the first quarter of 2017, the Company reduced its operating expenses by $6.5 million or 23% from the same period in 2016.
Net loss for the first quarter of 2017 was $(9.4) million or $(0.25) per share, compared to $(15.2) million or $(0.42) per share in the first quarter of 2016. Adjusted EBITDA for the first quarter of 2017 was a loss of $(4.4) million, compared to a loss of $(8.1) million in the first quarter of 2016. A reconciliation of GAAP net income (loss) to adjusted EBITDA, a non-GAAP measure, is provided in the financial tables that accompany this release.
“In Q1, we achieved our financial objectives while also investing in our key growth initiatives,” said Rob Glaser, Chairman and CEO of RealNetworks. “We achieved stable revenue while also reducing our operating expenses by 23% from a year ago. At the same time, we're growing our mobile games business, developing new Mobile Service offerings, and continuing to build partnerships and seed the ecosystem for our new RealMedia HD codec.”
As of March 31, 2017, the Company had $66.3 million in unrestricted cash, cash equivalents and short-term investments, compared to $77.1 million as of December 31, 2016.

Business Outlook

For the second quarter of 2017, RealNetworks expects total revenue in the range of $28 million to $31 million and an adjusted EBITDA loss for the second quarter in the range of $(3.0) million to $(5.0) 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. You may join the conference call by calling 888-831-6080 or +1-210-234-0017 (Passcode: 1ST QUARTER). A live webcast of the call will be available at http://investor.realnetworks.com/ and an on-demand webcast will be available approximately one hour following the conclusion of the conference call. A telephonic replay will be available until 11:59 p.m. PT, May 24, 2017 by calling 866-453-2318 or +1-203-369-1226 (Passcode: 532017).


For More Information

Investor Relations for RealNetworks
+1-206-674-2700
IR@realnetworks.com




The following information was filed by Realnetworks Inc (RNWK) on Wednesday, May 3, 2017 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-Q Quarterly 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-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Income (loss)
Condensed Consolidated Statements Of Operations And Comprehensive Income (loss) (parenthetical)
Accrued And Other Current Liabilities
Accrued And Other Current Liabilities (detail)
Accrued And Other Current Liabilities (tables)
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
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (policies)
Earnings (loss) Per Share
Earnings (loss) Per Share (additional Information) (detail)
Earnings (loss) Per Share (calculation Of Basic And Diluted Earnings Per Share) (detail)
Earnings (loss) Per Share (tables)
Fair Value Measurements
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)
Fair Value Measurements - Additional Information (detail)
Goodwill
Goodwill (changes In Goodwill) (detail)
Goodwill (goodwill By Segments) (detail)
Goodwill (tables)
Guarantees
Income Taxes
Lease Exit And Related Charges
Lease Exit And Related Charges (changes To Accrued Loss On Excess Office Facilities) (detail)
Lease Exit And Related Charges (tables)
Other Intangible Assets
Other Intangible Assets (detail)
Other Intangible Assets (tables)
Recent Accounting Pronouncements
Related Party Transactions
Restructuring Charges
Restructuring Charges (details)
Restructuring Charges (tables)
Rhapsody Joint Venture
Rhapsody Joint Venture (additional Information) (detail)
Rhapsody Joint Venture (summarized Financial Operating Information For Rhapsody) (detail)
Rhapsody Joint Venture (tables)
Segment Information
Segment Information (additional Information) (detail)
Segment Information (long-lived Assets By Geographic Region) (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 (tables)
Stock-based Compensation
Stock-based Compensation (additional Information) (detail)
Stock-based Compensation (recognized Stock-based Compensation Expense) (detail)
Stock-based Compensation (tables)
Stock-based Compensation (weighted-average Assumptions Used To Determine Fair Value Of Options Granted) (detail)
Ticker: RNWK
CIK: 1046327
Form Type: 10-Q Quarterly Report
Accession Number: 0001046327-17-000025
Submitted to the SEC: Thu May 04 2017 7:59:39 AM EST
Accepted by the SEC: Thu May 04 2017
Period: Friday, March 31, 2017
Industry: Computer Programming Services

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