Smith Micro (SMSI) Shares Fall 28% On Rough Earnings

November 1, 2007 by Douglas A. McIntyre

Smith Micro (SMSI) reported an 81 percent fall in quarterly profit, hurt by mounting operating expenses. Revenue of the wireless communication software products developer rose 38 percent to $20.4 million from a year ago.

Shares are off 28% to $10.94.

SMSI reported third-quarter net income of $472,000, or 2 cents a share, compared with $2.5 million, or 9 cents a share, a year ago, according to Reuters.

Analysts had expected the company to earn 21 cents a share, excluding special items, on revenue of $20.3 million, but it did not work out that way.

Douglas A. McIntyre

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