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Realnetworks Inc (RNWK) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Realnetworks Inc

CIK: 1046327 Ticker: RNWK


Exhibit 99.1
REALNETWORKS ANNOUNCES SECOND QUARTER 2017 RESULTS
SEATTLE - August 3, 2017 -

Revenue of $33.1 million grew 11% year-over-year and 8% sequentially
Reduced year-over-year operating expenses by $3.2 million
Continued investments in key growth initiatives

RealNetworks, Inc. (Nasdaq: RNWK), a leader in digital media software and services, today announced results for the second quarter ended June 30, 2017.
Management Commentary
"We are pleased with our second quarter results, which saw solid performance in all three of our divisions," said Rob Glaser, Chairman and CEO of RealNetworks. "We also made good progress in lowering our cost structure and realigning our resources to support a few key growth initiatives. We believe these growth initiatives, the first of which will come to market later this year, will deliver meaningful revenue contributions in 2018 and beyond."
Second Quarter 2017 Financial Highlights
Revenue was $33.1 million, up from $30.6 million in the prior quarter and up from $29.7 million in the second quarter of 2016.
Operating expenses declined by $2.9 million, or 14%, from the prior quarter and by $3.2 million, or 15%, from the same period in 2016.
Net loss was $(3.4) million or $(0.09) per share, compared to $(9.4) million or $(0.25) per share in the prior quarter and $(8.3) million or $(0.23) per share in the second quarter of 2016.
Adjusted EBITDA was a loss of $(0.8) million, compared to a loss of $(4.4) million in the prior quarter and $(4.8) million in the second 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.
As of June 30, 2017, the Company had $62.5 million in unrestricted cash, cash equivalents and short-term investments, compared to $66.3 million as of March 31, 2017.

Business Outlook

For the third quarter of 2017, RealNetworks expects to achieve the following results:
Total revenue is expected to be in the range of $29 million to $31 million.
Adjusted EBITDA loss is expected to be in the range of $(2.0) million to $(4.0) 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: 2ND 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, August 24, 2017 by calling 800-388-4923 or +1-203-369-3800 (Passcode: 832017).





The following information was filed by Realnetworks Inc (RNWK) on Thursday, August 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)

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Realnetworks Inc provided additional information to their SEC Filing as exhibits

Ticker: RNWK
CIK: 1046327
Form Type: 10-Q Quarterly Report
Accession Number: 0001046327-17-000031
Submitted to the SEC: Fri Aug 04 2017 7:19:52 AM EST
Accepted by the SEC: Fri Aug 04 2017
Period: Friday, June 30, 2017
Industry: Computer Programming Services

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