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Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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

Public Relations

949-362-5800

pr@smithmicro.com

MKR Group

323-468-2300

smsi@mkr-group.com

Smith Micro Software Achieves Profitability for Fourth Quarter of Fiscal

Year 2014, Reports Full Year Financial Results

Company Reiterates Fiscal 2015 Guidance

Aliso Viejo, CA, February 24, 2015

Smith Micro Software, Inc. (NASDAQ:SMSI), a leading provider of wireless and mobility solutions, today reported a return to profitability for the fourth quarter of fiscal 2014. The Company also reported financial results for the full year ended December 31, 2014, and reiterated its fiscal 2015 guidance.

“Revenue for the fourth quarter of 2014 was $10.6 million, coming in at the top end of our previously announced preliminary results, and we were profitable on both a non-GAAP and GAAP basis,” said William W. Smith Jr., President and CEO of Smith Micro Software. “Fourth quarter revenues were up 12 percent sequentially from the third quarter due to growth across all product lines. GAAP operating income was $217,000 for the fourth quarter, and non-GAAP operating income was $797,000, which resulted in a non-GAAP earnings per share of $0.01.”

“We’ve worked hard to enhance our product portfolio, streamline our operations, and turn around our business case, and we are extremely proud to post a profit once again. We will continue to push ourselves to build a balanced, predictable base of business. We are reiterating our previously announced guidance for fiscal 2015 and expect to remain profitable for the entire year,” Mr. Smith concluded.

Fiscal 2015 Guidance:

 

    Revenue for the first quarter should be approximately the same as the fourth quarter of fiscal 2014.


The following information was filed by Smith Micro Software Inc (SMSI) on Tuesday, February 24, 2015 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 Loss
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)
Equity Transactions
Equity Transactions - Additional Information (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: 0001193125-15-069548
Submitted to the SEC: Fri Feb 27 2015 3:45:32 PM EST
Accepted by the SEC: Fri Feb 27 2015
Period: Wednesday, December 31, 2014
Industry: Prepackaged Software

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