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Smith Micro Reports 2017 Second Quarter Financial Results
ALISO VIEJO, CA, August 8, 2017– Smith Micro Software, Inc. (NASDAQ: SMSI), today reported financial results for its second quarter ended June 30, 2017.
“During the first half of fiscal 2017, Smith Micro completed a significant restructure of our business, aligned our cost structure, and created a strong foundation for growth in the second half and 2018,” said William W. Smith, Jr., President and CEO of Smith Micro Software.
“The success of our SafePath™ Family platform has provided us with a strong lead product. New business wins with SafePath will provide the company with significant new recurring revenue in the back half of this year and accelerating into 2018. As we continue to build our customer base, we are extremely focused and optimistic about our future and our return to strong growth and profitability.”
Fiscal Second Quarter 2017 Financial Results:
Smith Micro Software reported revenues of $5.9 million for the second quarter ended June 30, 2017, compared to $7.5 million reported in the second quarter ended June 30, 2016.
Second quarter 2017 gross profit was $4.6 million, compared to $5.5 million reported in the second quarter of 2016.
GAAP gross profit as a percentage of revenue was 78 percent for the second quarter of 2017, compared to 74 percent for the second quarter of 2016.
GAAP net loss for the second quarter of 2017 was $2.6 million, or $0.20 loss per share, compared to a GAAP net loss of $3.3 million, or $0.28 loss per share, for the second quarter of 2016.
The following information was filed by Smith Micro Software Inc (SMSI) on Tuesday, August 8, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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