Smith Micro Software (SMSI) Prelim. Q3 Revenue Misses Expectations

October 13, 2016 4:07 PM EDT
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Price: $1.52 +1.33%

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Smith Micro Software (NASDAQ: SMSI) announced preliminary revenue results for its fiscal third quarter ended, September 30, 2016. Preliminary revenue for the quarter is expected to be approximately $6.5 million, which is below the company's previously announced guidance of revenue in the range of $7.9 million to $8.4 million.

*** The Street sees revenue of $8.2 million.

Revenue during the quarter was significantly impacted by several large deals that were not closed as expected. We still expect to close these deals in subsequent quarters. The company will provide more details on its upcoming earnings conference call scheduled for October 26, 2016.

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