Smith Micro Software Soars 20% Following Strong Q4 Results, 2015 Outlook

Shares of Smith Micro Software, Inc. (NASDAQ: SMSI) soared nearly 20 percent Wednesday after the company announced strong preliminary financial results for its fiscal fourth quarter ended December 31, 2014.

Revenue for the fiscal 2014 fourth quarter is expected to be between $10.4 million and $10.6 million, above estimates of $10.21 million.

Non-GAAP operating profit for the fiscal 2014 fourth quarter is expected to be in the range of $600,000 to $700,000.

Revenue for the first quarter of fiscal 2015 is expected to be equal to, or slightly higher than, the fourth quarter results.

Revenue for fiscal 2015 is expected to be between $45 million and $49 million and the company expects to be non-GAAP profitable for the fiscal year 2015.

"The turnaround that started in the third quarter of this fiscal year continues," said William W. Smith Jr., Smith Micro's President and Chief Executive Officer. "We are very excited about our return to profitability, solid sequential revenue growth, and new deals that will continue to increase revenues next year and hopefully for years to come. As we look to fiscal 2015, our expectation is that we will remain profitable for the entire year while achieving steady quarterly revenue growth throughout the year."

Smith Micro Software traded recently at $1.52, up more than 20 percent.