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Smith Micro Software, Inc. (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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 2018 Financial Results

Company Achieves Growth and Profitability During the Quarter

 

 

 

ALISO VIEJO, CA, March 13, 2019

– Smith Micro Software, Inc. (NASDAQ: SMSI) today reported financial results for its fourth quarter and fiscal year ended December 31, 2018.

“Our fiscal 2018 was a solid year for the Company, achieving several significant milestones across all facets of the organization,” said William W. Smith Jr., President and CEO of Smith Micro Software. “We entered 2018 with a concentrated focus of returning the company to growth, profitability, and positive cash flow. I am pleased to report that we achieved success on all three fronts, while continuing to streamline our operations and rationalize our product lineup.”

“During the year, we significantly strengthened our balance sheet, paid down substantially all our debt obligations, and strategically acquired a third leg to our wireless product stool with the acquisition of the Smart Retail product suite that we have branded as ViewSpot.”

Mr. Smith concluded, “We enter 2019 with strong momentum, focused on maintaining our technology leadership position, adding new customers, and accelerating growth.”

Fourth Quarter 2018 Financial Results:

Smith Micro Software reported revenue of $7.4 million for the fourth quarter ended December 31, 2018, compared to $5.7 million reported in the fourth quarter ended December 31, 2017.

Fourth quarter 2018 gross profit was $6.4 million, compared to $4.4 million reported in the fourth quarter of 2017.

 


The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, March 13, 2019 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 Operations
Consolidated Statements Of Stockholders' Equity
Acquisitions (Unaudited)
Acquisitions (Unaudited) (Tables)
Acquisitions (Unaudited) - Summary Of Consideration Paid For Acquisitions (Detail)
Acquisitions (Unaudited) - Summary Of Preliminary Allocation Of Purchase Price (Detail)
Acquisitions (Unaudited) - Summary Of Unaudited Proforma Results Of Operation (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 And Related Party Transactions
Debt And Related Party Transactions - 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 (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Summarized Quarterly Information (Detail)
Restructuring
Restructuring (Tables)
Restructuring - Activity In Restructuring Liability Accounts (Detail)
Restructuring - Additional Information (Detail)
Revenues
Revenues (Tables)
Revenues - Additional Information (Detail)
Revenues - Schedule Of Revenues On Disaggregated Basis (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
Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-009576
Submitted to the SEC: Wed Mar 27 2019 12:06:57 PM EST
Accepted by the SEC: Wed Mar 27 2019
Period: Monday, December 31, 2018
Industry: Prepackaged Software

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