NEW YORK (
) -- Shares of
Smith Micro Software
(SMSI - Get Report)
slumped in late trades on Tuesday after the company posted a wider than anticipated loss for its fiscal second quarter and gave a weak revenue outlook.
The Aliso Viejo, Calif.-based developer of mobile connectivity and communications applications reported a non-GAAP loss of $5.2 million, or 15 cents a share, for the three months ended June 30 with revenue coming in at $16.1 million, well below a year-ago total of $31.4 million.
The average estimate of analysts polled by
was for a loss of 11 cents a share in the June period on revenue of $17.8 million.
Smith Micro sees revenue ranging from $15 million to $20 million for its current fiscal third quarter ending in September. Wall Street's consensus view sits at $23.4 million.
The stock was last quoted at $2.96, down 11.1%, on volume of less than 20,000, according to
. Based on Tuesday's regular session close at $3.33, the shares were already off nearly 80% so far in 2011, and sentiment on Wall Street was poor with 10 of the 13 analysts covering the stock rating it a hold.
fell in extended trades after the San Francisco-based online restaurant reservation company came in short on the top line with its latest results, reporting second-quarter revenue of $34.3 million vs. the average analysts' consensus view of $35.3 million.
The company's non-GAAP profit, which excludes stock-based compensation expenses, totaled $8.1 million, or 33 cents a share, for the June-ended period, besting the average estimate of analysts polled by
for earnings of 27 cents a share.
"Our solid performance in the second quarter was driven by strong growth in the number of installed restaurants and seated diners globally," said Matt Roberts, the company's president and CEO, in a statement. "We're pleased with the continued momentum in our business and with the progress we're making across a variety of initiatives that support future growth."
The stock slumped 6.5% in after-hours action to $64.41 on volume of more than 500,000, according to
. The volatile shares were basically flat for the year ahead of the report, having dropped precipitously since hitting a 52-week high of $118.66 on April 25.