Smith Micro Software Reports Q3 EPs of $.23

Smith Micro Software, Inc.

today reported financial results for its 2010 third quarter ended September 30, 2010. Smith Micro reported record revenue of $34.0 million for the third quarter ended September 30, 2010, a 22.2% increase over the $27.8 million reported in the third quarter ended September 30, 2009. Non-GAAP net income for the third quarter of 2010 increased to $7.9 million, or $0.23 per diluted share, compared to $6.6 million, or $0.20 per diluted share, reported in the third quarter of 2009. GAAP gross profit of $83.8 million increased $18.2 million, or 27.7%, for the nine months ended September 30, 2010, compared to $65.6 million for the nine months ended September 30, 2009. Non-GAAP gross profit (which excludes amortization of intangibles, stock compensation and non-cash tax expense) was $88.4 million for the nine months ended September 30, 2010, an increase of $19.1 million, or 27.5%, from the same period last year.