 |
| Smith Micro Software Corp |
Smith Micro Software Corp: ( NASDAQ: SMSI )reported revenue of $17.8 million for the first quarter ended March 31, 2011, compared to $29.9 million reported in the first quarter ended March 31, 2010 and Q2 guidance of revenue will be $15 million to $ 20 million.
First quarter gross profit on a GAAP basis was $14.0 million, compared to $26.1 million reported in the first quarter of 2010. On a non-GAAP basis (which excludes amortization of intangibles and stock compensation), first quarter gross profit was $15.3 million, compared to $27.6 million for the same quarter last year.
GAAP gross profit as a percentage of revenue was 78.8% for the first quarter of 2011, compared to 87.5% for the same quarter last year. Non-GAAP gross profit as a percentage of revenue was 86.0% for the first quarter of 2011, compared to 92.6% for the same quarter last year primarily due to our lower revenue.
GAAP net loss for the first quarter of 2011 was $7.8 million, or a loss of $0.22 per share, compared to GAAP net income of $1.6 million, or $0.05 per diluted share, for the first quarter of 2010.
Non-GAAP net loss for the first quarter of 2011 was $4.7 million, or a loss of $0.13 per share, compared to net income of $6.2 million, or $0.18 per diluted share, for the first quarter of 2010.
Total cash and cash equivalents and short-term investments at March 31, 2011 were $64.4 million.
Fully diluted weighted average common shares outstanding as of March 31, 2011 were 35.3 million compared to 34.2 million fully diluted weighted average common shares outstanding as of March 31, 2010.
Q2 Guidance
Based on current financial data and management's current plans and assumptions, Smith Micro is projecting that its revenues for the second fiscal quarter of 2011 will be between $15 million to $20 million.
(Source: Smith Micro Software Corp)
0 comments:
Post a Comment