This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smith Micro Software Reports Third Quarter Financial Results

Smith Micro Software, Inc. ( NASDAQ:SMSI), a leading provider of wireless and mobility solutions, today reported financial results for the third quarter ended September 30, 2012.

“Revenues for the third quarter of 2012 were 8.3% higher than the second quarter primarily due to the continued roll-out of NetWise Director™, our data offload solution, as well as market expansion of our Visual Voicemail and Voicemail-to-Text products,” said William W. Smith Jr., President and CEO of Smith Micro Software. “Our operating expenses for this quarter were down slightly versus the second quarter, and were down 35% this year versus the same quarter last year excluding restructuring and impairment charges. We remain prudent about managing costs while continuing to invest in strategic areas of our business, such as Windows 8, intelligent traffic management, and enterprise mobile connectivity.”

Smith Micro reported revenues of $11.0 million for the third quarter ended September 30, 2012, compared to $12.6 million reported in the third quarter ended September 30, 2011, and $10.2 million for second quarter of 2012.

Third quarter 2012 gross profit on a GAAP basis was $8.9 million and was the same as reported in the third quarter of 2011. On a non-GAAP basis (which excludes amortization of intangibles and stock compensation), third quarter 2012 gross profit was $8.9 million, compared to $10.2 million for the same quarter last year.

GAAP gross profit as a percentage of revenue was 80.7% for the third quarter of 2012, compared to 70.7% for the third quarter of 2011 primarily due to no amortization of intangibles this year. Non-GAAP gross profit as a percentage of revenue was 80.8% for the third quarter of 2012, compared to 80.7% for the same quarter last year.

GAAP net loss for the third quarter of 2012 was $4.8 million, or $0.13 loss per diluted share, compared to a GAAP net loss of $134.5 million, or $3.76 loss per diluted share, for the third quarter of 2011. The 2011 net loss included the goodwill and long-lived asset impairment charge of $124.3 million.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs