RealNetworks, Inc. (NDX: RNWK PowerRating ) announced today results for quarter four and economic year to Dec. 31, 2010.
"These results demonstrate the difficult work and discipline executives and employees have exercised over the last year in transforming RealNetworks," explains Bob Kimball, Real network CEO.
"In the fourth quarter, we make positive operating flow of money, continued to decrease our operating costs, and increased altered EBITDA both sequentially and year-over-year. Cash from music business of Real's was $37.6 million in quarter four of 2009, also total income, including music, and within quarter four of 2009 was $145.5 million. Starting in the second quarter of 2010, money and additional operating outcome from Real's music business of the Rhapsody JV aren't consolidated in Real's financial reports because of the restructuring of Rhapsody finished on March 31, 2010.
Foreign exchange rate fluctuations adversely influenced 2010 4th quarter cash by roughly $1.9 million compared to the year-ago quarter. Gross margin in the 4th quarter rose to 63%, compared to 61% for quarter four a year before, essentially thanks to the deconsolidation of the less profit Rhapsody music business starting Q2 of 2010.
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