ALISO VIEJO, CA - Smith Micro Software, Inc. (NASDAQ: SMSI), a company that markets and develops a wide range of software products and services for the wireless market, today announced that the Company's President and Chief Executive Officer, William Smith, Jr., will ring The NASDAQ Stock Market closing bell on January 9, 2007. The bell-ringing ceremony will be broadcast on national business television at 4:00 pm ET and will be webcast live on NASDAQ's website and at NASDAQ's MarketSite broadcast studio in New York City.
"We are excited to preside over the NASDAQ market close in recognition of our record-setting revenue, earnings and stock performance in 2006," said William W. Smith, Jr., of Smith Micro Software, Inc. "The closing is a way for us to acknowledge and thank all those who contributed to our success in 2006, including our customers, partners, shareholders and employees.
"We have delivered six consecutive quarters of record top line and bottom line results and look forward to another exciting year in 2007 as we continue to develop and acquire new wireless software products to offer our wireless handset and carrier clients. We have a successful track record of acquiring, developing and delivering quality products to our clients and with our strengthened balance sheet, as a result of our recent secondary offering, we now have the ability to further expand our product offerings to the wireless community," concluded Smith.
On November 1, 2006, Smith Micro announced record revenue for the first nine-months ended September 30, 2006 of $37.2 million, an increase of 204% compared to the first nine months of the previous year. Pro forma diluted earnings per share for the first nine months of 2006 increased to a record $0.42, an increase of 261% over the $0.13 reported in the first nine months of 2005. The pro forma EPS figure for 2006 was calculated using 25.8 million diluted shares compared to 23.2 million in the prior year period. Smith Micro's share price increased from $6.12 at January 3, 2006 to $14.19 at December 31, 2006, a 132% increase.
About Smith Micro Software:
Smith Micro Software, Inc., headquartered in Aliso Viejo, CA, is a developer and marketer of wireless communications and utility software products for multiple OS platforms. The company designs easy-to-use software for personal computing and business solutions around the world. With a focus on wireless and broadband technologies and the Internet, the company's products and services enable wireless communications, file and image compression, digital image and music management. In addition, Smith Micro develops and publishes award-winning software solutions for Windows and Macintosh, empowering users in the areas of information access, removal, recovery, security, and Internet distribution. Smith Micro's leading brands are QuickLink®, StuffIt®, CheckIt®, Internet Cleanup™ and Spring Cleaning®. Smith Micro's complete line of products is available through retail stores, Value-Added Resellers (VARs), Smith Micro's consumer, enterprise, wireless OEM sales groups and the company's websites. Smith Micro's common stock trades on The NASDAQ Global Market® under the symbol SMSI.
Safe Harbor Statement: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation forward-looking statements relating to the company's financial prospects and projections, the company's ability to increase its business and the anticipated timing and financial performance of new products and potential acquisitions. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are new and changing technologies, customer acceptance of those technologies, fluctuations or cancellations in orders from customers, new and continuing adverse economic conditions, and the company's ability to compete effectively with other software companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, including its filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those presented in any forward-looking statements. Smith Micro assumes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Smith Micro, the Smith Micro logo, QuickLink, StuffIt, Internet Cleanup and Spring Cleaning are trademarks or registered trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.