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Investing

RNWK: Real Networks Makes Investors Real Happy

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By Douglas A. McIntyre Published
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FRom William Trent, CFA of Stock Market Beat

RealNetworks, Inc. (RNWK) announced results for the first quarter ended March 31, 2007. Quarterly Highlights:

– Record revenue of $129.5 million

– Net income of $40.0 million or $0.22 per diluted share

– Adjusted net income of $10.4 million or $0.06 per diluted share

Analysts had been expecting the company to earn $0.17 on $125 million in revenue. The results were favorably impacted by the company’s acquisition of WiderThan. Its guidance for the second quarter is in line with analyst expectations of breakeven earnings, while the full-year guidance looks to be a pleasant surprise:

For the second quarter of 2007, Real expects revenue in the range of $130 million to $134 million, GAAP net income per diluted share of $(0.01) to $0.01 and adjusted net income per diluted share of $0.04 to $0.06. This
guidance assumes an effective tax rate of approximately 37%.

For the full year 2007, Real expects revenue in the range of $547 million to $563 million. Real expects 2007 GAAP net income per diluted share of $0.24 to $0.27 and adjusted net income per diluted share of $0.23 to $0.25.

The results, which were accompanied by much stronger cash flow compared with last year’s quarter, cheered investors. The shares are up significantly in after-hours trading.

http://www.stockmarketbeat.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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