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Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

SEC Filings

Smith Micro Software Inc

CIK: 948708 Ticker: SMSI

Exhibit 99.1

 

 

IR INQUIRIES:

Charles Messman

Investor Relations

949-362-5800

IR@smithmicro.com

 

 

Smith Micro Reports Fourth Quarter and Fiscal Year 2017 Financial Results

 

ALISO VIEJO, CA, March 14, 2018

– Smith Micro Software, Inc. (NASDAQ: SMSI), today reported financial results for its fourth quarter and year ended December 31, 2017.

“I’m encouraged by the positive strides we made as a company in Fiscal 2017,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “Building off our 2016 restructuring, we achieved some significant milestones, which included the launch of our SafePath® Family platform with a Tier 1, U.S.-based carrier, and the implementation of significant product enhancements across our portfolio, all of which we expect to contribute to 2018 revenue growth.

“We are entering 2018 with momentum. The company is well-capitalized and ready to maximize the significant revenue opportunities that lay ahead. As such, I expect to see revenues build throughout 2018, which will return us to positive cash flow and profitability.”

Fiscal Fourth Quarter 2017 Financial Results:

Smith Micro Software reported revenue of $5.7 million for the fourth quarter ended December 31, 2017, compared to $7.1 million reported in the fourth quarter ended December 31, 2016.

Fourth quarter 2017 gross profit was $4.4 million, compared to $5.3 million reported in the fourth quarter of 2016.

Generally accepted accounting principles in the United States (“GAAP”) gross profit as a percentage of revenue was 76 percent for the fourth quarter of 2017, compared to 75 percent for the fourth quarter of 2016.    

 


The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, March 14, 2018 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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Inside Smith Micro Software Inc's 10-K Annual Report:

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 Cash Flows (parenthetical)
Consolidated Statements Of Operations And Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Acquisitions - Summary Of Allocation Of Purchase Price (detail)
Acquisitions - Summary Of Consideration Paid For Acquisitions (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)
Debt
Debt - Additional Information (detail)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (detail)
Equipment And Improvements
Equipment And Improvements (tables)
Equipment And Improvements - Additional Information (detail)
Equipment And Improvements - Summary Of Equipment And Improvements (detail)
Equity Transactions
Equity Transactions - Additional Information (detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Additional Information (detail)
Goodwill And Intangible Assets - Future Amortization Expense Related To Intangible Assets (detail)
Goodwill And Intangible Assets - Schedule Of Acquired Intangible Assets By Major Asset Class (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 Loss 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 (benefit) (detail)
Net Loss Per Share
Net Loss Per Share (tables)
Net Loss Per Share - Net Loss Per Share (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 - Aggregate Fair Value And Carrying Value Of Short And Long-term Debt (detail)
Quarterly Financial Data
Quarterly Financial Data (tables)
Quarterly Financial Data - Summarized Quarterly Information (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Restructuring
Restructuring (tables)
Restructuring - Activity In Restructuring Liability Accounts (detail)
Restructuring - Additional Information (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 Revenues (detail)
Segment, Customer Concentration And Geographical Information - Revenues Generated By Each Business Unit (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 - Non-cash Stock-based 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
Subsequent Events - Additional Information (detail)
Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001564590-18-007263
Submitted to the SEC: Fri Mar 30 2018 4:28:17 PM EST
Accepted by the SEC: Fri Mar 30 2018
Period: Sunday, December 31, 2017
Industry: Prepackaged Software

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