Smith Micro Software Q4 net loss decreases

Smith Micro Software, Inc., a provider of wireless and mobility solutions, has reported that net loss for the fourth quarter ended December 31, 2012 was $4.14 million, or $0.12 loss per share, compared to a net loss of $9.52 million, or $0.27 loss per share, for the same quarter ended December 31, 2011.

Revenues for the fourth quarter ended December 31, 2012 were $12.03 million, compared to $11.24 million for the same quarter ended December 31, 2011.

Net loss for the year ended December 31, 2012 was $25.46 million, or $0.71 loss per share, compared to a net loss of $159.61 million, or $4.48 loss per share, for the year ended December 31, 2011.

Revenues for the year ended December 31, 2012 were $43.33 million, compared to $57.77 million for the year ended December 31, 2011.

"Our fourth quarter revenues of $12.0 million were up 7.1% from the same period last year, and up 9.3% from the third quarter of 2012, primarily due to continued growth in our CommSuite solutions, which allow wireless carriers to capitalize on the convenience and stickiness of Visual Voicemail and Voice-to-Text applications," said William W. Smith Jr., President and CEO of Smith Micro Software.

"Our fourth quarter non-GAAP loss per share of $0.06 was cut in half from last year's $0.12 loss per share due to higher revenues and on-going cost containment efforts. While we were disappointed in our total year revenue decline in 2012 versus 2011, we are encouraged by the year-over-year increase of $6.9 million in our newer NetWise and CommSuite product lines and the sequential growth of revenue throughout 2012."