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Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

SEC Filings

Smith Micro Software Inc

CIK: 948708 Ticker: SMSI

Exhibit 99.1

 

LOGO

 

AT THE COMPANY:      IR INQUIRIES:
Suzanne Runald      Charles Messman, Todd Kehrli

Public Relations

949-362-5800

pr@smithmicro.com

    

MKR Group

323-468-2300

ir@mkr-group.com

SMSI Q4 2012 Earnings

Smith Micro Software Reports Fourth Quarter

and Fiscal Year 2012 Financial Results

ALISO VIEJO, CA, February 13, 2013

Smith Micro Software, Inc. (NASDAQ:SMSI), a leading provider of wireless and mobility solutions, today reported financial results for the fourth quarter and full year ended December 31, 2012.

“Our fourth quarter revenues of $12.0 million were up 7.1% from the same period last year, and up 9.3% from the third quarter of 2012, primarily due to continued growth in our CommSuite solutions, which allow wireless carriers to capitalize on the convenience and stickiness of Visual Voicemail and Voice-to-Text applications,” said William W. Smith Jr., President and CEO of Smith Micro Software. “Our fourth quarter non-GAAP loss per share of $0.06 was cut in half from last year’s $0.12 loss per share due to higher revenues and on-going cost containment efforts. While we were disappointed in our total year revenue decline in 2012 versus 2011, we are encouraged by the year-over-year increase of $6.9 million in our newer NetWise and CommSuite product lines and the sequential growth of revenue throughout 2012.”

Smith Micro reported revenues of $12.0 million for the fourth quarter ended December 31, 2012, a 7.1% increase from revenues of $11.2 million reported in the fourth quarter of 2011.

Fourth quarter 2012 gross profit on a GAAP and non-GAAP basis (which excludes stock compensation) was $9.7 million compared to $8.5 million reported in the fourth quarter of 2011.

GAAP gross profit as a percentage of revenues was 80.6% for the fourth quarter of 2012 compared to 75.7% for the fourth quarter of 2011. Non-GAAP gross profit as a percentage of revenues was 80.6% for the fourth quarter of 2012 compared to 75.8% for the same quarter last year.


The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, February 13, 2013 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Balance Sheet Details
Balance Sheet Details (details 1)
Balance Sheet Details (details 2)
Balance Sheet Details (details Textual)
Balance Sheet Details (details)
Balance Sheet Details (tables)
Commitments And Contingencies
Commitments And Contingencies (details Textual)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Fair Value Of Contingent Liability
Fair Value Of Contingent Liability (details Textual)
Fair Value Of Contingent Liability (details)
Fair Value Of Contingent Liability (tables)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (details Textual)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Profit Sharing
Profit Sharing (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Restructuring
Restructuring Expenses (details Textual)
Restructuring Expenses (details)
Restructuring Expenses (tables)
Schedule Ii Valuation And Qualifying Accounts (details)
Segment, Customer Concentration And Geographical Information
Segment, Customer Concentration And Geographical Information (details 1)
Segment, Customer Concentration And Geographical Information (details Textual)
Segment, Customer Concentration And Geographical Information (details)
Segment, Customer Concentration And Geographical Information (tables)
Stock Repurchase Program
Stock Repurchase Program (details)
Stock-based Compensation
Stock-based Compensation (details 1)
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details 4)
Stock-based Compensation (details Textual)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Subsequent Events
Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-067128
Submitted to the SEC: Wed Feb 20 2013 3:43:29 PM EST
Accepted by the SEC: Wed Feb 20 2013
Period: Monday, December 31, 2012
Industry: Prepackaged Software

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