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Smith Micro Reports Second Quarter 2018 Financial Results
Company Achieves Non-GAAP Profitability During the Quarter
ALISO VIEJO, CA, July 24, 2018– Smith Micro Software, Inc. (NASDAQ: SMSI), today reported financial results for its second quarter ended June 30, 2018.
“I am encouraged by our second quarter results as we look to build upon our positive momentum in the second half of fiscal 2018,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “We achieved operating profitability and saw continued revenue growth from our wireless business unit, driven by our two core products, SafePath® and CommSuite®.”
“While there is still plenty of hard work ahead, I am proud of what we have achieved with the turnaround journey that we began 18 months ago. The company is well capitalized and positioned to build upon the momentum achieved in the first half of the year. We will remain diligent and focused on our strategic initiatives, expanding our revenues and continuing our march to consistent profitability in the coming quarters.”
Fiscal Second Quarter 2018 Financial Results:
Smith Micro Software reported revenue of $6.9 million for the second quarter ended June 30, 2018, compared to $5.9 million reported in the second quarter ended June 30, 2017.
Second quarter 2018 gross profit was $5.8 million, compared to $4.6 million reported in the second quarter of 2017.
The following information was filed by Smith Micro Software Inc (SMSI) on Tuesday, July 24, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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