Smith Micro Software (NASDAQ: SMSI) reported Q1 EPS of ($0.04), in-line with the analyst estimate of ($0.04). Revenue for the quarter came in at $7.2 million versus the consensus estimate of $6.6 million.

"Revenue for the first quarter of 2016 was $7.2 million, which was above previous guidance," said William W. Smith Jr., President and CEO of Smith Micro Software. "We have managed our cash well, ending the quarter at $13.1 million, and we remain on track to accelerate our growth in the second half of the year based on the new agreements we signed during the fourth quarter of last year and a strong sales pipeline."

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