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RealNetworks warns
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December 20, 2000: 4:40 p.m. ET
Internet software maker RealNetworks sees 4Q profit, revenue shortfall
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NEW YORK (CNNfn) - Multimedia software maker RealNetworks Inc. on Wednesday warned that its fourth quarter revenue and profits would fall short of Wall Street expectations, due in part to the pandemic slowdown in Internet-related spending.
The Seattle-based company said it expects to report earnings per share of about 2 cents a share, half of the four cent profit analysts had forecast, according to First Call.
Revenue for the fourth quarter is now expected to be in a range of $58 million to $60 million, an increase of 33 percent to 38 percent over the same quarter last year, but lower than the $73.5 million analysts had predicted.
"We are not immune to the current market environment for Internet-related spending, and we've made adjustments to our near-term growth expectations," Rob Glaser, chairman and Chief Executive of RealNetworks, said in a statement. "At the same time, we remain highly confident in our fundamentals, leadership position, and long-term prospects."
In addition, RealNetworks (RNWK: Research, Estimates), which makes software that help to play audio and video on the Internet, does expect to report its 11th consecutive quarter of positive cash flow from operations and its sixth consecutive quarter of profitable pro forma results.
The company will likely release its fourth quarter data, for the period ending Dec. 31, 2000, will be reported on or about Jan. 30, 2001. 
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RealNetworks
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