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RealNetworks Announces Third Quarter 2013 Results



              RealNetworks Announces Third Quarter 2013 Results

PR Newswire

SEATTLE, Oct. 30, 2013

SEATTLE, Oct. 30, 2013 /PRNewswire/ -- RealNetworks, Inc. (Nasdaq: RNWK) today
announced results for the third quarter ended September 30, 2013.

Financial Summary

  o Revenue of $49.0 million
  o Net loss of $(31.4) million or $(0.88) per share
  o Adjusted EBITDA loss of $(8.4) million
  o Cash and short-term investments of $218.4 million as of September 30, 2013

Recent Highlights

  o On September 24, launched RealPlayer Cloud, the first integrated video
    player and cloud service
  o Acquired Muzicall Limited, a leading service provider for mobile carriers
    and media companies in Europe, for $6.7 million
  o Settled our two most significant outstanding litigation matters for an
    aggregate of $11.5 million

"We are pleased with our continued progress towards revitalizing
RealNetworks," said Rob Glaser, Chairman and interim CEO of RealNetworks.
"Last month we launched RealPlayer Cloud, our breakthrough product that makes
it easy to move, watch, save and share video across every popular digital
device. The initial market response to RealPlayer Cloud has been excellent and
we think lays the foundation for a great future."

Third Quarter Results

For the third quarter of 2013, revenue was $49.0 million, a sequential
decrease of (2)% from the second quarter of 2013, and a decrease of (17)%
compared with the third quarter of 2012. Revenue trends in each of
RealNetworks' businesses in the third quarter of 2013 compared with the
year-earlier quarter were: a (18)% decrease in RealPlayer Group revenue to
$17.6 million, a (13)% decrease in Mobile Entertainment revenue to $19.9
million and a (24)% decrease in Games revenue to $11.4 million.

Net loss for the third quarter of 2013 was $(31.4) million, or $(0.88) per
share, compared with net loss of $(22.2) million, or $(0.63) per share, in the
third quarter of 2012.

Adjusted EBITDA loss for the third quarter of 2013 was $(8.4) million,
compared with an adjusted EBITDA loss of $(6.0) million for the third quarter
of 2012. A reconciliation of GAAP operating income (loss) to adjusted EBITDA
is provided in the financial tables that accompany this release.

As of September 30, 2013, RealNetworks had $218.4 million in unrestricted
cash, cash equivalents and short-term investments compared with $271.4 million
as of December 31, 2012, of which approximately $37.5 million was held in
foreign jurisdictions. In addition, RealNetworks had $39.5 million in
restricted cash and available-for-sale securities as of September 30, 2013,
compared with $44.3 million as of December 31, 2012.

Segment Operating Results

                        2013         2013         2012
                        Q3           Q2           Q3
                        (in thousands)
Revenue
  RealPlayer Group      $ 17,641     $ 18,383     $ 21,392
  Mobile Entertainment  19,948       18,592       22,820
  Games                 11,369       12,875       14,876
  Corporate             —            —            —
           Total        $ 48,958     $ 49,850     $ 59,088
Operating Income (loss)
  RealPlayer Group      $ (72)       $ (27)       $ 1,575
  Mobile Entertainment  (1,477)      (990)        (1,856)
  Games                 (3,360)      (2,261)      (2,136)
  Corporate             (23,528)     (13,226)     (20,758)
           Total        $ (28,437)   $ (16,504)   $ (23,175)
Adjusted EBITDA
  RealPlayer Group      $ 624        $ 470        $ 2,275
  Mobile Entertainment  503          694          341
  Games                 (2,704)      (1,315)      (1,321)
  Corporate             (6,792)      (5,602)      (7,337)
           Total        $ (8,369)    $ (5,753)    $ (6,042)

Business Outlook

For the fourth quarter of 2013, RealNetworks expects total revenue of $47.0
million to $50.0 million, with all segments declining year over year, and
with Mobile Entertainment increasing, Games flat and RealPlayer Group
declining sequentially. We expect adjusted EBITDA for the quarter to be a loss
of $(8.0) million to $(11.0) million.

The foregoing forward-looking statements reflect RealNetworks' expectations as
of October 30, 2013. It is not RealNetworks' general practice to update these
forward-looking statements until its next quarterly results announcement.

Webcast and Conference Call Information

The company will host an audio Webcast conference call to review results and
discuss the company's operations for the third quarter at  5:00 p.m. ET on
October 30. The Webcast will be available at: http://investor.realnetworks.com
 

The on-demand Webcast will be available beginning approximately two hours
following the conclusion of the live Webcast.

Conference Call Details
5 p.m. ET / 2 p.m. PT
Dial in:
888-790-3162 Domestic
415-228-4854 International
Passcode: Third Quarter Earnings
Leader: Rob Glaser

Telephonic replay will be available until 8 p.m. ET, November 20, 2013.
Replay dial in:
800-568-9796 Domestic
203-369-3292 International
Passcode: 103013

RNWK-F

About RealNetworks

RealNetworks creates innovative applications and services that make it easy to
connect with and enjoy digital media. RealNetworks invented the streaming
media category in 1995 and continues to connect consumers with their digital
media both directly and through partners, aiming to support every network,
device, media type and social network. RealNetworks' corporate information is
located at http://www.realnetworks.com/about-us.

RealNetworks, RealPlayer and GameHouse are trademarks or registered trademarks
of RealNetworks, Inc. or its subsidiaries. All other companies or products
listed herein are trademarks or registered trademarks of their respective
owners.

About Non-GAAP Financial Measures

To supplement RealNetworks' consolidated financial information presented in
accordance with GAAP in this press release, the company also discloses certain
non-GAAP financial measures, including adjusted EBITDA and adjusted EBITDA by
reportable segment, which management believes provide investors with useful
information.

In the financial tables of our earnings press release, RealNetworks has
included reconciliations of GAAP operating income (loss) to adjusted EBITDA
and to adjusted EBITDA by reportable segment.

The rationale for management's use of non-GAAP measures is included in the
supplementary materials presented with the third quarter earnings materials.
Please refer to Exhibit 99.2 ("Information Regarding Non-GAAP Financial
Measures") to the company's report on Form 8-K, which is being submitted today
to the SEC.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and
uncertainties, including statements relating to RealNetworks' current
expectations regarding future revenue and adjusted EBITDA, future market
performance, and its plans to attain growth and profitability and undertake
certain strategic initiatives. All statements contained in this press release
that do not relate to matters of historical fact should be considered
forward-looking statements. Actual results may differ materially from the
results predicted. Factors that could cause actual results to differ from the
results predicted include: RealNetworks' ability to realize operating
efficiencies, growth and other benefits from the implementation of its growth
plan, strategic initiatives, and restructuring efforts; the emergence of new
entrants and competition in the market for digital media products and
services; other competitive risks, including the growth of competing
technologies, products and services; the potential outcomes and effects of
claims and legal proceedings on RealNetworks' business, prospects, financial
condition or results of operations; risks associated with key customer or
strategic relationships, business acquisitions and the introduction of new
products and services; changes in consumer and advertising spending in
response to disruptions in the global financial markets; fluctuations in
foreign currencies; and changes in RealNetworks' effective tax rate. More
information about potential risk factors that could affect RealNetworks'
business and financial results is included in RealNetworks' annual report on
Form 10-K for the most recent year ended December 31, its quarterly reports on
Form 10-Q and in other reports and documents filed by RealNetworks from time
to time with the Securities and Exchange Commission. The preparation of
RealNetworks' financial statements and forward-looking financial guidance
requires the company to make estimates and assumptions that affect the
reported amount of assets and liabilities, and revenues and expenses during
the reported period. Actual results may differ materially from these estimates
under different assumptions or conditions. The company assumes no obligation
to update any forward-looking statements or information, which are in effect
as of their respective dates.

 

RealNetworks, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)
                             Quarters Ended            Nine Months Ended

                             September 30,             September 30,
                             2013         2012         2013         2012
                             (in thousands, except per share data)
Net revenue                  $ 48,958     $ 59,088     $ 155,601    $ 191,578
Cost of revenue              18,990       25,244       59,015       78,633
      Gross profit           29,968       33,844       96,586       112,945
Sale of patents and other
technology assets, net of    —            —            —            116,353
costs (A)
Operating expenses:
   Research and              15,707       15,321       45,951       49,167
development
   Sales and marketing       19,427       21,972       59,830       68,462
   General and               9,869        8,759        28,506       35,103
administrative
   Restructuring and other   1,877        10,724       4,075        13,872
charges
   Lease exit and related    —            243          3,066        243
charges
   Loss on litigation        11,525       —            11,525       —
settlements
      Total operating        58,405       57,019       152,953      166,847
expenses
Operating income (loss)      (28,437)     (23,175)     (56,367)     62,451
Other income (expenses):
   Interest income, net      166          164          992          1,033
   Gain (loss) on sale of
equity and other             —            2,210        —            5,288
investments, net
   Equity in net loss of     (2,629)      (1,613)      (6,209)      (4,095)
Rhapsody investment
   Other income (expense),   (118)        248          (146)        1,674
net
      Total other income     (2,581)      1,009        (5,363)      3,900
(expense), net
Income (loss) before         (31,018)     (22,166)     (61,730)     66,351
income taxes
Income tax expense           357          48           (210)        24,583
(benefit)
Net income (loss)            $ (31,375)   $ (22,214)   $ (61,520)   $ 41,768
Basic net income (loss)      $ (0.88)     $ (0.63)     $ (1.73)     $ 1.20
per share
Diluted net income (loss)    $ (0.88)     $ (0.63)     $ (1.73)     $ 1.19
per share
Shares used to compute
basic net income (loss)      35,670       34,998       35,490       34,747
per share
Shares used to compute
diluted net income (loss)    35,670       34,998       35,490       35,000
per share

(A) On April 5, 2012, RealNetworks completed the sale of certain patents and
other technology assets to Intel for a cash purchase of $120.0 million.

 

RealNetworks, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)
                                                   September 30,  December 31,

                                                   2013           2012
                                                   (in thousands)
ASSETS
Current assets:
Cash and cash equivalents                          $  134,879     $  163,198
Short-term investments                             83,527         108,216
Trade accounts receivable, net                     26,494         30,754
Deferred costs, current portion                    1,622          825
Deferred tax assets - current                      3,942          2,869
Prepaid expenses and other current assets          12,152         17,002
Total current assets                               262,616        322,864
Equipment, software, and leasehold improvements,
at cost:
Equipment and software                             94,054         98,041
Leasehold improvements                             3,516          22,767
Total equipment, software, and leasehold           97,570         120,808
improvements
Less accumulated depreciation and amortization     73,105         91,492
Net equipment, software, and leasehold             24,465         29,316
improvements
Restricted cash equivalents and investments        5,000          10,000
Equity method investment                           12,656         19,204
Available for sale securities                      34,485         34,334
Other assets                                       2,844          3,153
Deferred costs, non-current portion                1,032          531
Deferred tax assets, net, non-current portion      1,576          4,911
Other intangible assets, net                       14,051         3,275
Goodwill                                           17,518         6,309
Total assets                                       $  376,243     $  433,897
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                   $  20,562      $  19,013
Accrued and other current liabilities              58,024         57,530
Deferred revenue, current portion                  7,604          8,675
Total current liabilities                          86,190         85,218
Deferred revenue, non-current portion              167            169
Deferred rent                                      613            2,250
Deferred tax liabilities, net, non-current portion 3,166          432
Other long-term liabilities                        492            3,100
Total liabilities                                  90,628         91,169
Shareholders' equity                               285,615        342,728
Total liabilities and shareholders' equity         $  376,243     $  433,897

 

RealNetworks, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)
                                                       Nine Months Ended

                                                       September 30,
                                                       2013         2012
                                                       (in thousands)
Cash flows from operating activities:
Net income (loss)                                      $ (61,520)   $ 41,768
Adjustments to reconcile net income (loss) to net cash used in operating
activities:
   Depreciation and amortization                       15,045       12,478
   Stock-based compensation                            5,671        6,419
   Loss on asset disposal                              —            1,965
   Equity in net loss of Rhapsody                      6,209        4,095
   Deferred income taxes, net                          (1,238)      22,399
   Gain on sale of patent and other technology assets, —            (116,353)
net of costs
   Gain on sale of equity and other investments, net   —            (5,288)
   Realized translation gain                           (35)         (1,968)
   Other                                               51           —
   Net change in certain operating assets and          7,514        3,735
liabilities
Net cash provided by (used in) operating activities    (28,303)     (30,750)
Cash flows from investing activities:
Purchases of equipment, software, and leasehold        (5,798)      (6,478)
improvements
Proceeds from sale of patents and other technology     —            116,353
assets, net of costs
Proceeds from sale of equity and other investments     —            7,244
Purchases of short-term investments                    (85,670)     (76,191)
Proceeds from sales and maturities of short-term       110,359      51,885
investments
Decrease (increase) in restricted cash equivalents and 5,000        103
investments, net
Acquisitions of businesses, net of cash acquired       (22,480)     —
   Net cash provided by (used in) investing activities 1,411        92,916
Cash flows from financing activities:
Proceeds from issuance of common stock (stock options  408          3,240
and stock purchase plan)
Tax payments from shares withheld upon vesting of      (911)        (964)
restricted stock
Payment of contingent consideration                    (828)        —
   Net cash provided by (used in) financing activities (1,331)      2,276
Effect of exchange rate changes on cash and cash       (96)         (73)
equivalents
   Net increase (decrease) in cash and cash            (28,319)     64,369
equivalents
Cash and cash equivalents, beginning of period         163,198      106,333
Cash and cash equivalents, end of period               $ 134,879    $ 170,702

 

RealNetworks, Inc. and Subsidiaries

Supplemental Financial Information

(Unaudited)
               2013                             2012
               Q3         Q2         Q1         Q4         Q3         Q2         Q1
               (in thousands)
Net Revenue
by Line of
Business
RealPlayer     $ 17,641   $ 18,383   $ 22,383   $ 25,838   $ 21,392   $ 22,158   $ 22,081
Group (A)
Mobile
Entertainment  19,948     18,592     20,495     25,718     22,820     26,005     25,775
(B)
Games (C)      11,369     12,875     13,915     15,708     14,876     17,363     19,108
     Total     $ 48,958   $ 49,850   $ 56,793   $ 67,264   $ 59,088   $ 65,526   $ 66,964
net revenue
Net Revenue
by Product
RealPlayer
Group
- License (D)  $ 7,281    $ 6,766    $ 8,332    $ 10,956   $ 6,757    $ 8,334    $ 7,733
-
Subscriptions  3,616      4,193      4,924      6,192      7,056      6,810      7,601
(E)
- Media
Properties     6,745      7,424      9,127      8,690      7,579      7,014      6,747
(F)
Mobile
Entertainment
- SaaS (G)     18,155     17,002     18,674     22,793     20,696     23,286     23,464
- Systems
Integration /  322        300        291        1,295      247        965        426
Professional
Services (H)
- Technology
License &      1,470      1,290      1,530      1,630      1,877      1,754      1,885
Other (I)
Games
- License (J)  3,421      4,089      5,249      5,222      5,136      6,053      7,587
-
Subscriptions  5,733      5,980      6,312      6,876      6,952      7,536      8,170
(K)
- Media
Properties     2,215      2,806      2,354      3,610      2,788      3,774      3,351
(L)
     Total     $ 48,958   $ 49,850   $ 56,793   $ 67,264   $ 59,088   $ 65,526   $ 66,964
net revenue
Net Revenue
by Geography
United States  $ 21,039   $ 21,463   $ 28,024   $ 28,315   $ 29,101   $ 28,614   $ 31,814
Rest of world  27,919     28,387     28,769     38,949     29,987     36,912     35,150
     Total     $ 48,958   $ 49,850   $ 56,793   $ 67,264   $ 59,088   $ 65,526   $ 66,964
net revenue

Net Revenue by Line of Business
(A) The RealPlayer Group primarily includes revenue from RealPlayer and
related products, such as the distribution of third-party software products,
advertising on RealPlayer websites, and sales of RealPlayer Plus software
licenses to consumers, sales of intellectual property licenses, and consumer
subscriptions such as SuperPass.
(B) The Mobile Entertainment division primarily includes revenue from SaaS
services, system integration, and professional services to mobile carriers,
and sales of technology licenses of our software products such as Helix.
(C) The Games division primarily includes revenue from sales of games
licenses, online games subscription services, advertising on games sites and
social network sites, microtransactions from online and social games, and
sales of mobile games.
Net Revenue by Product
(D) Licensing revenue within the RealPlayer Group includes sales of RealPlayer
Plus software licenses to consumers and sales of intellectual property
licenses.
(E) Subscriptions revenue within the RealPlayer Group includes revenue from
subscriptions such as SuperPass.
(F) Media Properties revenue within the RealPlayer Group includes distribution
of third-party software products and advertising on RealPlayer websites.
(G) SaaS revenue within Mobile Entertainment includes revenue from music on
demand, video on demand, ringtones, ringback tones, and intercarrier messaging
services provided to network services providers who are largely mobile phone
networks.
(H) Systems Integration / Professional Services revenue within Mobile
Entertainment includes professional services, other than those associated with
software sales, provided to mobile carriers.
(I) Licensing revenue within Mobile Entertainment includes revenue from
Helix-related products.
(J) Licensing revenue within Games includes retail games-related revenue,
microtransactions from online and social games and sales of mobile games.
(K) Subscriptions revenue within Games includes revenue from online games
subscriptions.
(L) Media Properties revenue within Games includes distribution of third-party
software products and advertising on games sites and social network sites.

 

RealNetworks, Inc. and Subsidiaries

Segment Results of Operations

(Unaudited)
               2013                        2012          2013          2012
               Q3            Q2            Q3            YTD           YTD
               (in thousands)
RealPlayer
Group
Net revenue    $ 17,641      $ 18,383      $ 21,392      $ 58,407      $ 65,631
Cost of        3,264         4,409         6,735         12,984        16,026
revenue
Gross profit   14,377        13,974        14,657        45,423        49,605
Gross margin   81         %  76         %  69         %  78         %  76         %
Operating      14,449        14,001        13,082        44,656        41,849
expenses
Operating      $ (72)        $ (27)        $ 1,575       $ 767         $ 7,756
income (loss)
Adjusted       $ 624         $ 470         $ 2,275       $ 2,425       $ 9,347
EBITDA
Mobile
Entertainment
Net revenue    $ 19,948      $ 18,592      $ 22,820      $ 59,035      $ 74,600
Cost of        11,972        11,170        12,740        33,974        43,093
revenue
Gross profit   7,976         7,422         10,080        25,061        31,507
Gross margin   40         %  40         %  44         %  42         %  42         %
Operating      9,453         8,412         11,936        26,976        40,591
expenses
Operating      $ (1,477)     $ (990)       $ (1,856)     $ (1,915)     $ (9,084)
income (loss)
Adjusted       $ 503         $ 694         $ 341         $ 4,579       $ (2,145)
EBITDA
Games
Net revenue    $ 11,369      $ 12,875      $ 14,876      $ 38,159      $ 51,347
Cost of        3,216         3,381         4,989         10,397        17,332
revenue
Gross profit   8,153         9,494         9,887         27,762        34,015
Gross margin   72         %  74         %  66         %  73         %  66         %
Operating      11,513        11,755        12,023        35,120        39,962
expenses
Operating      $ (3,360)     $ (2,261)     $ (2,136)     $ (7,358)     $ (5,947)
income (loss)
Adjusted       $ (2,704)     $ (1,315)     $ (1,321)     $ (5,173)     $ (3,790)
EBITDA
Corporate
Net revenue    $ —           $ —           $ —           $ —           $ —
Cost of        538           559           780           1,660         2,182
revenue
Gross profit   (538)         (559)         (780)         (1,660)       (2,182)
Gross margin   N/A           N/A           N/A           N/A           N/A
Gain on sale
of patents
and other      —             —             —             —             116,353
technology
assets, net
of costs
Operating      22,990        12,667        19,978        46,201        44,445
expenses
Operating      $ (23,528)    $ (13,226)    $ (20,758)    $ (47,861)    $ 69,726
income (loss)
Adjusted       $ (6,792)     $ (5,602)     $ (7,337)     $ (18,962)    $ (23,380)
EBITDA
Total
Net revenue    $ 48,958      $ 49,850      $ 59,088      $ 155,601     $ 191,578
Cost of        18,990        19,519        25,244        59,015        78,633
revenue
Gross profit   29,968        30,331        33,844        96,586        112,945
Gross margin   61         %  61         %  57         %  62         %  59         %
Gain on sale
of patents
and other      —             —             —             —             116,353
technology
assets, net
of costs
Operating      58,405        46,835        57,019        152,953       166,847
expenses
Operating      $ (28,437)    $ (16,504)    $ (23,175)    $ (56,367)    $ 62,451
income (loss)
Adjusted       $ (8,369)     $ (5,753)     $ (6,042)     $ (17,131)    $ (19,968)
EBITDA

 

RealNetworks, Inc. and Subsidiaries

Reconciliation of segment GAAP operating income (loss) to adjusted EBITDA by
segment

(Unaudited)
               2013                      2012         2013         2012
               Q3           Q2           Q3           YTD          YTD
               (in thousands)
RealPlayer
Group
Reconciliation of segment GAAP
operating income (loss) to adjusted
EBITDA by segment:
Operating      $ (72)       $ (27)       $ 1,575      $ 767        $ 7,756
income (loss)
Acquisitions
related
intangible     60           62           62           189          220
asset
amortization
Depreciation
and            636          435          638          1,469        1,371
amortization
Adjusted       $ 624        $ 470        $ 2,275      $ 2,425      $ 9,347
EBITDA
Mobile
Entertainment
Reconciliation of segment GAAP
operating income (loss) to adjusted
EBITDA by segment:
Operating      $ (1,477)    $ (990)      $ (1,856)    $ (1,915)    $ (9,084)
income (loss)
Acquisitions
related
intangible     1,055        638          796          2,506        2,384
asset
amortization
Depreciation
and            925          1,046        1,401        3,988        4,555
amortization
Adjusted       $ 503        $ 694        $ 341        $ 4,579      $ (2,145)
EBITDA
Games
Reconciliation of segment GAAP
operating income (loss) to adjusted
EBITDA by segment:
Operating      $ (3,360)    $ (2,261)    $ (2,136)    $ (7,358)    $ (5,947)
income (loss)
Acquisitions
related
intangible     314          230          171          565          587
asset
amortization
Depreciation
and            342          716          644          1,620        1,570
amortization
Adjusted       $ (2,704)    $ (1,315)    $ (1,321)    $ (5,173)    $ (3,790)
EBITDA
Corporate
Reconciliation of segment GAAP
operating income (loss) to adjusted
EBITDA by segment:
Operating      $ (23,528)   $ (13,226)   $ (20,758)   $ (47,861)   $ 69,726
income (loss)
Other income
(expense),     (118)        (137)        248          (146)        1,674
net
Depreciation
and            1,839        1,859        604          4,708        1,791
amortization
Restructuring
and other      1,877        816          10,724       4,075        13,872
charges
Stock-based    1,613        2,020        1,602        5,671        5,667
compensation
Gain on sale
of patents
and other      —            —            —            —            (116,353)
technology
assets, net
of costs
Lease exit
and related    —            3,066        243          3,066        243
charges
Loss on
litigation     11,525       —            —            11,525       —
settlements
Adjusted       $ (6,792)    $ (5,602)    $ (7,337)    $ (18,962)   $ (23,380)
EBITDA
Total
Reconciliation of GAAP operating income
(loss) to adjusted EBITDA:
Operating      $ (28,437)   $ (16,504)   $ (23,175)   $ (56,367)   $ 62,451
income (loss)
Other income
(expense),     (118)        (137)        248          (146)        1,674
net
Acquisitions
related
intangible     1,429        930          1,029        3,260        3,191
asset
amortization
Depreciation
and            3,742        4,056        3,287        11,785       9,287
amortization
Lease exit
and related    —            3,066        243          3,066        243
charges
Loss on
litigation     11,525       —            —            11,525       —
settlements
Restructuring
and other      1,877        816          10,724       4,075        13,872
charges
Stock-based    1,613        2,020        1,602        5,671        5,667
compensation
Gain on sale
of patents
and other      —            —            —            —            (116,353)
technology
assets, net
of costs
Adjusted       $ (8,369)    $ (5,753)    $ (6,042)    $ (17,131)   $ (19,968)
EBITDA

 

 

 

SOURCE RealNetworks, Inc.

Website: http://www.realnetworks.com
Contact: Investor Relations: ir@realnetworks.com
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