BANCBOSTON ROBERTSON STEPHENS REITERATES BUY RATING ON RNWK
PR NEWSWIRE - July 21, 1999 12:10
SAN FRANCISCO, Jul 21, 1999 /PRNewswire via COMTEX/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior networking software analyst John F. Powers today reiterated his Buy rating on RealNetworks, Inc. (Nasdaq: RNWK). RealNetworks, based in Seattle, Wash., is a leading provider of branded-software products and services that enable the delivery of streaming media content over the Internet and Intranets.
"We are reiterating our Buy rating on RealNetworks," said Powers. "The company reported revenues of $28.0 million, exceeding our estimate by $2.9 million, and up from $15.1 million during the same period last year.The company's earnings-per-share was break-even, consistent with our expectation.
"In our view, technology adoption grew well sequentially," said Powers.
The company currently has more than 70 million different registered users of RealPlayer, versus 60 million in mid-April 1999.
"We are raising our fiscal 1999 revenue and earnings-per-share estimates from $103.7 million to $116.3 million and from $0.01 to $0.07, respectively," said Powers. "In addition, we are increasing fiscal 2000 revenue and earnings-per-share estimates from $138.3 million to $159.5 million and from $0.15 to $0.24, respectively."
Clients interested in receiving more information should contact their salesperson at 415-781-9700.
BancBoston Robertson Stephens is a leading international investment banking firm focused on growth companies. The firm's 55 equity and high yield research analysts cover more than 600 companies. Additional information is available upon request.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested.
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