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Smith Micro Reports Second Quarter 2019 Financial Results
Achieved Revenue of $10.9 Million
And Non-GAAP Earnings per Share of $0.08
PITTSBURGH, PA, July 25, 2019– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2019.
“I am very pleased with the continued growth and profitability we delivered in the second quarter of 2019,” said William W. Smith, Jr., President and CEO of Smith Micro. “We saw growth across all three wireless solutions, again mostly driven by our SafePath® platform. We also achieved another consecutive quarter of subscriber revenue growth from the CommSuite® platform, as well as continued growth with ViewSpot™, our recent Smart Retail acquisition that closed in the first quarter.”
Mr. Smith concluded, “The outlook for the second half of 2019 is very strong. Our sales pipeline continues to grow across all three wireless solutions and, with the successful launch of our first SafePath IOT device, our product offering has strengthened and we’ve now entered a new market.”
Second Quarter 2019 Financial Results:
Smith Micro reported revenue of $10.9 million for the second quarter ended June 30, 2019, compared to $6.9 million reported in the second quarter ended June 30, 2018.
Second quarter 2019 gross profit was $9.9 million compared to $5.8 million reported in the second quarter of 2018.
The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, July 25, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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