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