Smith Micro Software (SMSI) Guides Q4 Revs Above Consensus Views

Smith Micro Software (NASDAQ: SMSI) announced preliminary revenue and non-GAAP operating profits for its fiscal fourth quarter ended December 31, 2014. The Company also gives guidance for fiscal 2015 ahead of its scheduled presentation and investor meetings today at the Needham & Company Annual Growth Conference in New York City.

Fiscal 2014 Fourth Quarter Selected Preliminary Financial Results:

• Revenue for the fiscal 2014 fourth quarter is expected to be between $10.4 million and $10.6 million. (The Street is at $10.2 million.)
• Non-GAAP operating profit for the fiscal 2014 fourth quarter is expected to be in the range of $600,000 to $700,000.
• Cash and short-term investments at December 31, 2014 will be approximately $13.0 million.

Fiscal 2015 Guidance:

• Revenue for the first quarter is expected to be equal to, or slightly higher than, the fourth quarter of fiscal 2014. (The Street is modeling $43.0 million.)
• Revenue for fiscal 2015 is expected to be between $45 million and $49 million.
• The Company expects to be non-GAAP profitable for the fiscal year 2015.

"The turnaround that started in the third quarter of this fiscal year continues," said William W. Smith Jr., Smith Micro's President and Chief Executive Officer. "We are very excited about our return to profitability, solid sequential revenue growth, and new deals that will continue to increase revenues next year and hopefully for years to come. As we look to fiscal 2015, our expectation is that we will remain profitable for the entire year while achieving steady quarterly revenue growth throughout the year."

These results are based on preliminary information as of today, are unaudited, and are subject to change. The Company plans to announce final fourth quarter and fiscal year 2014 financial results on February 24, 2015.

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