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Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Smith Micro Software Inc

CIK: 948708 Ticker: SMSI

Exhibit 99.1

 

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AT THE COMPANY:   IR INQUIRIES:
Suzanne Runald   Todd Kehrli or Jim Byers

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949-362-5800

pr@smithmicro.com

 

MKR Group

323-468-2300

smsi@mkr-group.com

 

 

Smith Micro Software Reports Fourth Quarter and Fiscal Year 2013 Financial Results

Aliso Viejo, CA, March 6, 2014

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, 2013.

“We achieved a 35 percent sequential increase in fourth quarter revenues, primarily due to new revenues from a leading chipset manufacturer and a strong holiday season for our productivity and graphics products,” said William W. Smith Jr., President and CEO of Smith Micro Software. “Fourth quarter revenues were down approximately 2 percent from the same quarter last year, but we saw a total year-over-year increase in our CommSuite, NetWise, and Productivity & Graphics product lines totaling $4.6 million. In addition, fourth quarter non-GAAP loss per share improved from $0.06 in 2012 to $0.01 loss per share in 2013, reflecting the positive impact of our third quarter restructuring.”

Smith Micro reported revenues of $11.8 million for the fourth quarter ended December 31, 2013, compared to $12.0 million reported in the fourth quarter of 2012.

Fourth quarter 2013 gross profit on both a GAAP and non-GAAP basis (which excludes stock compensation) was $9.5 million, compared to $9.7 million reported in the fourth quarter of 2012.

GAAP and non-GAAP gross profit as a percentage of revenues was 80.0 percent for the fourth quarter of 2013, compared to 80.6 percent on both a GAAP and non-GAAP basis for the fourth quarter of 2012.

GAAP net loss for the fourth quarter of 2013 was $1.5 million, or $0.04 loss per share, compared to GAAP net loss of $4.1 million, or $0.12 loss per share, for the fourth quarter of 2012.


The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, March 6, 2014 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 Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Balance Sheet Details
Balance Sheet Details (tables)
Balance Sheet Details - Additional Information (detail)
Balance Sheet Details - Available-for-sale Securities Recorded At Fair Value With Unrealized Gains Or Losses (detail)
Balance Sheet Details - Deferred Rent And Other Long Term Liabilities (detail)
Balance Sheet Details - Summary Of Accrued Liabilities (detail)
Balance Sheet Details - Summary Of Equipment And Improvements (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Company Lease Of Buildings Under Non-cancellable Operating Leases (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Federal Statutory Rate To Profit Before Income Taxes (detail)
Income Taxes - Gross Unrecognized Tax Benefits Changes In Balances (detail)
Income Taxes - Schedule Of Income (loss) Before Provision For Income Taxes (detail)
Income Taxes - Summary Of Income Tax Expense (detail)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (detail)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Net Income (loss) Per Share (detail)
Profit Sharing
Profit Sharing - Additional Information (detail)
Quarterly Financial Data
Quarterly Financial Data (tables)
Quarterly Financial Data - Summarized Quarterly Information (detail)
Restructuring
Restructuring (tables)
Restructuring - Activity In Restructuring Liability Accounts (detail)
Restructuring - Additional Information (detail)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (detail)
Segment, Customer Concentration And Geographical Information
Segment, Customer Concentration And Geographical Information (tables)
Segment, Customer Concentration And Geographical Information - Additional Information (detail)
Segment, Customer Concentration And Geographical Information - Company Revenue In Different Geographic Locations (detail)
Segment, Customer Concentration And Geographical Information - Company's Customers That Represent 10% Or More Of Company's Net Revenues (detail)
Segment, Customer Concentration And Geographical Information - Revenues Generated By Each Business Unit (detail)
Stock Repurchase Program
Stock Repurchase Program - Additional Information (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Assumptions Used Estimate Fair Value Of Employee Stock Purchase Plans (detail)
Stock-based Compensation - Assumptions Used To Compute Share-based Compensation Costs For Stock Options Granted (detail)
Stock-based Compensation - Stock-based Non-cash Compensation Expenses (detail)
Stock-based Compensation - Summary Of Outstanding Restricted Stock Awards And Related Activity (detail)
Stock-based Compensation - Summary Of Outstanding Stock Options And Related Activity (detail)
Stock-based Compensation - Summary Of Outstanding Stock Options And Related Activity (parenthetical) (detail)
Subsequent Events
Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001193125-14-088577
Submitted to the SEC: Fri Mar 07 2014 1:28:57 PM EST
Accepted by the SEC: Fri Mar 07 2014
Period: Tuesday, December 31, 2013
Industry: Prepackaged Software

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