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RealNetworks posts wider 2Q loss as sales slip
Thursday, July 30, 2009 4:59 PM


(Source: Associated Press/AP Online)trackingSEATTLE - Digital entertainment company RealNetworks Inc. posted a wider loss for the second quarter on Thursday, hit with declining revenue and write-offs on the value of its assets.

The company lost $188.3 million, or $1.40 per share, in the three months ended in June. That compares with a year-earlier loss of $1.3 million, or a penny per share.

Results included a $175.6 million goodwill impairment charge, which companies take to account for the declining value of intangible assets. The company did not say how much the one-time charge affected earnings per share.

Sales dropped 11 percent to $135.7 million.

Analysts polled by Thomson Reuters, who typically exclude one-time charges from their estimates, expected a loss of 6 cents per share on sales of $138.4 million.

The company declined to give a specific forecast for the current quarter, citing "uncertainty regarding consumer spending, global economic trends, foreign currency exchange rate fluctuations and credit markets."

RealNetworks said it expects third-quarter revenue to climb from the quarter before but fall on a year-over-year basis.

A service of YellowBrix, Inc.



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