Smith Micro Software (SMSI) Misses Q1 EPS by 2c, Revenues Beat

Smith Micro Software (NASDAQ: SMSI) reported Q1 EPS of $0.05, $0.02 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $13.32 million versus the consensus estimate of $12.65 million.

“The first quarter of 2020 was another very solid quarter for the Company and I was very pleased with the strong results that delivered revenue growth, profitability and strong free cash flow,” said William W. Smith, Jr., President and CEO of Smith Micro. “In response to the current worldwide crisis caused by the COVID-19 pandemic, our global workforce transitioned seamlessly to remote operations and continues to be very productive working from home.

“Like most companies navigating current market conditions we expect some impact in the short term, but we are in the enviable position of being able to maintain our profitability and free cash flow and have a solid and growing balance sheet at hand as we work through current headwinds.”

For earnings history and earnings-related data on Smith Micro Software (SMSI) click here.

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