Robert Elliott
  Charles Messman, Todd Kehrli
Chief Marketing Officer
  MKR Group
Net Revenues For Fiscal Year 2008 Increased 34% to a Record $98.4 Million, Fourth Quarter Net
Revenues Increased to $26.5 Million and Fourth Quarter EPS of $0.04 GAAP,
$0.28 Non-GAAP
ALISO VIEJO, CA, March 5, 2008 — Smith Micro Software, Inc. (NASDAQ: SMSI), a leading developer and marketer of software solutions and services for the mobility market, today reported its financial results for the fiscal 2008 fourth quarter and full year ending December 31, 2008.
“We are very pleased to report our fourth consecutive year of record revenue growth” said William W. Smith Jr., President and CEO of Smith Micro Software, Inc. “During the fiscal year, we achieved several key milestones as we strengthened our overall business model. We signed a record number of new customers, expanding our overall market opportunities and increased our leadership role in the wireless software space.”
Mr. Smith continued, “Our Connectivity & Security products continued to be our strongest contributor, where revenues increased from $29.6 million in 2007 to $58.7 million in 2008, a 98% increase. Specifically, during the second half of 2008, we expanded our market leadership in connectivity by adding two new WiMAX customers as well as one of the world’s largest PC manufacturers.”
Mr. Smith concluded, “Although we cannot control the current macro economic environment, we believe we have positioned the company well to continue on our growth plan. We enter 2009 with a very strong balance sheet and an industry-leading product portfolio that will continue to attract new customers—and grow existing relationships—as we build on the momentum we have created.”
Smith Micro reported net revenues of $26.5 million for the fourth quarter ended December 31, 2008, a 32.4% increase when compared to the $20.0 million reported for the fourth quarter of 2007.
Fourth quarter gross profit on a GAAP basis of $22.1 million increased $6.7 million, or 43.9%, from the fourth quarter ended December 31, 2007. On a non-GAAP basis (excluding amortization of intangibles, stock-based compensation and non-cash tax expense), gross profit was $23.2 million, an increase of $7.4 million, or 46.3%, from the same period last year.
GAAP gross profit margin was 83.6% of net revenues for the fourth quarter of 2008 as compared with 77.0% for the same period last year, and non-GAAP gross margin was 87.8% for the fourth


The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, March 5, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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