Smith Micro Software

Smith Micro Software surges on better-than-expected 4Q results

For the quarter, the company posted net income excluding items of $0.03 per share on revenue of $7.4 million, which was up from $5.7 million a year earlier

Someone using a mobile phone
The wireless software company focused on returning to profitability in 2018

Smith Micro Software Inc (NASDAQ:SMSI) surged Thursday after reporting fourth-quarter results that beat Wall Street expectations.

For the quarter, the Aliso Viejo, California, wireless software company posted net income excluding items of $0.03 per share on revenue of $7.4 million, which was up from $5.7 million a year earlier. The reported average forecast of analysts was for net income of $0.01 on revenue of $6.7 million.

Shares rallied 28% to $2.38 in Thursday’s mid-afternoon Nasdaq trading.

READ: Microsoft shares slip on second quarter revenue miss

The company reported 2018 revenue of $26.3 million, compared with $23 million in 2017. Total cash and cash equivalents as of December 31 were $12.2 million.

“Our fiscal 2018 was a solid year for the company, achieving several significant milestones across all facets of the organization,” William W. Smith Jr., president and CEO, said in a statement. “We entered 2018 with a concentrated focus of returning the company to growth, profitability and positive cash flow.”

In the fourth quarter of 2017, Smith Micro reported a net loss of $0.05 per share.

–This story was updated to give the latest share prices–

Contact Dennis Fitzgerald at [email protected]

Quick facts: Smith Micro Software

Price: $5.54

Market: NASDAQ
Market Cap: $204.71 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: hVIVO PLC's 2020 pipeline 'looking strong' as it expands...

hVIVO PLC's (LON:HVO) executive chairman Trevor Phillips tells Proactive London's Andrew Scott the business is now better positioned to be profitable next year. The creator of pioneering human disease models based upon viral challenge generated revenues of £5.9mln in the six months ended June...

6 hours, 11 minutes ago

2 min read