Smith Micro Software Inc. (SMSI, Financial) filed Quarterly Report for the period ended 2012-06-30.
Smith Micro Software, Inc. has a market cap of $62.7 million; its shares were traded at around $1.78 with and P/S ratio of 1.1.
Revenues. Revenues were $10.2 million and $16.1 million for the three months ended June 30, 2012 and 2011, respectively, representing a decrease of $5.9 million, or 36.8%. Wireless revenues decreased $5.1 million, or 36.8%, primarily due to lower sales of our connection manager products. Productivity & Graphics revenues decreased $0.8 million, or 37.5% due to lower sell through at large retailers and overall lower demand. Due to the introduction and market acceptance of mobile hotspot devices, Tablets and Smartphones capable of functioning as a WWAN hotspot, our core connection management products continue to experience lower demand in our North American marketplace. While we have launched new wireless products that address this technology shift, they are new to the market and their rate of adoption and deployment is unknown at this time causing material uncertainty regarding the timing of our future wireless revenues.
Gross profit. Gross profit was $8.4 million, or 82.3% of revenues for the three months ended June 30, 2012, a decrease of $4.1 million, or 33.2%, from $12.5 million, or 77.9% of revenues for the three months ended June 30, 2011. The 4.4 percentage point increase was primarily due to lower product margins of 3.4 points as a result of the decrease in revenues being offset by the amortization of intangibles that decreased as a percentage of revenues by 7.8 points due to no amortization this fiscal quarter versus the same fiscal period last year.
Revenues. Revenues were $20.3 million and $33.9 million for the six months ended June 30, 2012 and 2011, respectively, representing a decrease of $13.6 million, or 40.2%. Wireless revenues decreased $12.5 million, or 41.9%, primarily due to lower sales of our connection manager products. Productivity & Graphics revenues decreased $1.1 million, or 27.8% due to lower sell through at large retailers and overall lower demand. Due to the introduction and market acceptance of mobile hotspot devices, Tablets and Smartphones capable of functioning as a WWAN hotspot, our core connection management products continue to experience lower demand in our North American marketplace. While we have launched new wireless products that address this technology shift, they are new to the market and their rate of adoption and deployment is unknown at this time causing material uncertainty regarding the timing of our future wireless revenues.
Gross profit. Gross profit was $16.3 million, or 80.3% of revenues for the six months ended June 30, 2012, a decrease of $10.3 million, or 38.7%, from $26.6 million, or 78.4% of revenues for the six months ended June 30, 2011. The 1.9 percentage point
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Smith Micro Software, Inc. has a market cap of $62.7 million; its shares were traded at around $1.78 with and P/S ratio of 1.1.
Highlight of Business Operations:
Revenues to two customers and their respective affiliates in the Wireless business segment accounted for 39.9% and 15.6% of the Companys total revenues for the three months ended June 30, 2012. Revenues to three customers and their respective affiliates in the Wireless business segment accounted for 33.8%, 18.4% and 11.4% of the Companys total revenues for the three months ended June 30, 2011. Revenues to two customers and their respective affiliates in the Wireless business segment accounted for 36.0% and 20.6% of the Companys total revenues for the six months ended June 30, 2012. Revenues to four customers and their respective affiliates in the Wireless business segment accounted for 23.1%, 19.2%, 12.1% and 11.3% of the Companys total revenues for the six months ended June 30, 2011.Revenues. Revenues were $10.2 million and $16.1 million for the three months ended June 30, 2012 and 2011, respectively, representing a decrease of $5.9 million, or 36.8%. Wireless revenues decreased $5.1 million, or 36.8%, primarily due to lower sales of our connection manager products. Productivity & Graphics revenues decreased $0.8 million, or 37.5% due to lower sell through at large retailers and overall lower demand. Due to the introduction and market acceptance of mobile hotspot devices, Tablets and Smartphones capable of functioning as a WWAN hotspot, our core connection management products continue to experience lower demand in our North American marketplace. While we have launched new wireless products that address this technology shift, they are new to the market and their rate of adoption and deployment is unknown at this time causing material uncertainty regarding the timing of our future wireless revenues.
Gross profit. Gross profit was $8.4 million, or 82.3% of revenues for the three months ended June 30, 2012, a decrease of $4.1 million, or 33.2%, from $12.5 million, or 77.9% of revenues for the three months ended June 30, 2011. The 4.4 percentage point increase was primarily due to lower product margins of 3.4 points as a result of the decrease in revenues being offset by the amortization of intangibles that decreased as a percentage of revenues by 7.8 points due to no amortization this fiscal quarter versus the same fiscal period last year.
Revenues. Revenues were $20.3 million and $33.9 million for the six months ended June 30, 2012 and 2011, respectively, representing a decrease of $13.6 million, or 40.2%. Wireless revenues decreased $12.5 million, or 41.9%, primarily due to lower sales of our connection manager products. Productivity & Graphics revenues decreased $1.1 million, or 27.8% due to lower sell through at large retailers and overall lower demand. Due to the introduction and market acceptance of mobile hotspot devices, Tablets and Smartphones capable of functioning as a WWAN hotspot, our core connection management products continue to experience lower demand in our North American marketplace. While we have launched new wireless products that address this technology shift, they are new to the market and their rate of adoption and deployment is unknown at this time causing material uncertainty regarding the timing of our future wireless revenues.
Gross profit. Gross profit was $16.3 million, or 80.3% of revenues for the six months ended June 30, 2012, a decrease of $10.3 million, or 38.7%, from $26.6 million, or 78.4% of revenues for the six months ended June 30, 2011. The 1.9 percentage point
Read the The complete Report
