Tuesday, November 7, 2006
Digital media company RealNetworks Inc. reported a sharply higher net profit, boosted by proceeds from the settlement of its antitrust litigation against Microsoft Corp. and commercial agreements with the same company.
Net income was $42.2 million, or 24 cents per share, compared with $11.2 million, or 6 cents per share, in last year's third quarter. Third-quarter revenue rose 14 percent to $93.7 million from $82.2 million in the year-ago period.
Excluding the Microsoft settlement, stock-based compensation costs, equity investment gains and other costs, the company made a profit of $8.7 million, or 5 cents per share.
Those payments from Microsoft will continue through the first quarter of 2007, RealNetworks Chief Executive Rob Glaser told Reuters on Monday.
In the meantime, the two companies are working together to sell RealNetworks' online music and games, Glaser said.
For the fourth quarter, RealNetworks expects revenue of between $117 million and $123 million and net earnings of 18 cents to 21 cents per share.
It forecast 2006 revenue of between $387 million and $393 million, with net earnings per share of 77 cents to 80 cents.
By: DocMemory
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