Smith Micro Reports 2016 Second Quarter Financial Results

GAAP gross profit as a percentage of revenue was 74.4 percent for the second quarter of 2016, compared to 77.9 percent for the second quarter of 2015.  Non-GAAP gross profit as a percentage of revenue was 74.4 percent for the second quarter of 2016, compared to 78.0 percent for the same quarter last year.  

GAAP net loss for the second quarter of 2016 was $3.3 million, or $0.07 loss per diluted share, compared to a GAAP net loss of $1.2 million, or $0.03 loss per diluted share, for the second quarter of 2015.

Non-GAAP net loss (which excludes stock-based compensation, amortization of intangibles, and non-cash tax expense) for the second quarter of 2016 was $1.8 million, or $0.04 loss per diluted share, compared to a non-GAAP net loss of $0.4 million, or $0.01 loss per diluted share, for the second quarter of 2015.

Fiscal June Year-To-Date 2016 Financial Results:

For the six months ended June 30, 2016, the Company reported revenues of $14.7 million, compared to $19.9 million for the six months ended June 30, 2015.

GAAP and non-GAAP (which excludes stock-based compensation) gross profit was $10.6 million for the six months ended June 30, 2016, compared to $15.7 million for the six months ended June 30, 2015.  

GAAP and non-GAAP gross profit as a percentage of revenues was 72.6 percent for the six months ended June 30, 2016, compared to 79.0 percent for the same period last year.

GAAP net loss for the six months ended June 30, 2016 was $7.0 million, or a loss of $0.15 per diluted share, compared to a GAAP net loss for the six months ended June 30, 2015 of $1.2 million, a loss of $0.03 per diluted share.

Non-GAAP net loss (which excludes stock-based compensation, amortization of intangibles, and non-cash tax expense) for the six months ended June 30, 2016 was $3.8 million, or $0.08 loss per diluted share, compared to a non-GAAP net loss of $44,000, or $0.00 per diluted share, for the six months ended June 30, 2015. 

Total cash and cash equivalents and short-term investments at June 30, 2016 were $7.1 million.

Fully diluted weighted average common shares outstanding as of June 30, 2016 were 46.5 million, compared to 45.9 million fully diluted weighted average common shares outstanding as of June 30, 2015.

The Company uses a non-GAAP reconciliation of gross profit, income (loss) before taxes, net income (loss) and earnings (loss) per share in the presentation of financial results in this press release. Management believes that this presentation may be more meaningful in analyzing our income generation since stock-based compensation and the amortization of intangible assets are excluded from the non-GAAP earnings calculation and adjustments are made for Proforma taxes. Since we are in a cumulative loss position, the non-GAAP income tax expense (benefit) for the period ended June 30, 2016 was computed by using a tax rate of 38 percent using the Company's normalized combined U.S. federal, state and foreign statutory tax rates less various tax adjustments. This presentation may be considered more indicative of our ongoing operational performance. The tables below present the differences between non-GAAP earnings and net loss on an absolute and per-share basis. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and the non-financial measures as reported by Smith Micro Software may not be comparable to similarly titled amounts reported by other companies.

Investor Conference Call:

Smith Micro Software will hold an investor conference call today to discuss the Company's second quarter 2016 results at 4:30 p.m. ET, July 25, 2016. To access the call, dial (888) 510-1786, international participants can call 719-325-2452, when prompted provide the participant pass code 4882111.  Participants are asked to call the assigned number approximately 10 minutes before the conference call begins.  In addition, the conference call will be available on the Smith Micro website in the Investor Relations section.

About Smith Micro Software, Inc.:

Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers, device manufacturers, and enterprise businesses around the world.  From optimizing wireless networks to uncovering customer experience insights, and from streamlining Wi-Fi access to ensuring family safety, our solutions enrich today's connected lifestyles while creating new opportunities to engage consumers via smartphones. Our portfolio also includes a wide range of products for creating, sharing and monetizing rich content, such as visual messaging, video streaming, and 2D/3D graphics applications. For more information, visit smithmicro.com (NASDAQ: SMSI)

Safe Harbor Statement:

This release contains forward-looking statements that involve risks and uncertainties, including without limitation, forward-looking statements relating to the company's financial prospects and other projections of its performance, the existence of new sales opportunities and interest in the company's products and solutions, the company's ability to increase its revenue by capitalizing on new opportunities, customer concentration given that the majority of our sales depend on a few large client relationships, including Sprint, and the risk of being delisted from NASDAQ if we fail to meet any of the listing requirements. Among the important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are changes in demand for the company's products from its customers and their end-users, new and changing technologies, customer acceptance and timing of deployment of those technologies, and the company's ability to compete effectively with other software and technology companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management regarding future events and business performance as of the date of this release, and the company does not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.

Note:  Financial Schedules Attached

Smith Micro Software, Inc.
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share amounts) - unaudited
		Stock			Non-
	GAAP	Compensation	Amortization	Taxes	GAAP
Three Months Ended 6/30/16:
Gross profit	$5,546	$-	$-	$-	$5,546
Loss before provision for income taxes	($3,269)	$406	$27	$-	($2,836)
Net loss	($3,280)	$406	$27	$1,089	($1,758)
EPS-diluted	($0.07)	$0.01	$0.00	$0.02	($0.04)
Three Months Ended 6/30/15:
Gross profit	$7,315	$3	$-	$-	$7,318
Loss before provision for income taxes	($1,225)	$544	$-	$-	($681)
Net loss	($1,231)	$544	$-	$265	($422)
EPS-diluted	($0.03)	$0.01		$0.01	($0.01)
Six Months Ended 6/30/16:
Gross profit	$10,647	$2	$-	$-	$10,649
Loss before provision for income taxes	($6,949)	$767	$27 Werbung Mehr Nachrichten zur Smith Micro Software Inc Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 09:44 - PR Newswire Datang Intnl Pwr Gen - 2023 Annual Report 08:29 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Shanta Gold Ltd 02:00 - PR Newswire BlackRock Income and Growth Investment Trust Plc - Total Voting Rights Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59