-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EYQPMdl+NtiOS99mNrTXuqZmqLVv2GJfEtZyTKLx9d92qcmDsYrfvFcoCWnhltX+ zzT1PVlmgHJS8vrJcMU0ag== 0000892569-03-001690.txt : 20030717 0000892569-03-001690.hdr.sgml : 20030717 20030717160821 ACCESSION NUMBER: 0000892569-03-001690 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030717 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH MICRO SOFTWARE INC CENTRAL INDEX KEY: 0000948708 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 330029027 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26536 FILM NUMBER: 03791397 BUSINESS ADDRESS: STREET 1: 51 COLUMBIA STREET 2: STE 200 CITY: ALISO VIEJO STATE: CA ZIP: 92656 BUSINESS PHONE: 7143625800 MAIL ADDRESS: STREET 1: 51 COLUMBIA STREET 2: STE 200 CITY: ALISO VIEJO STATE: CA ZIP: 92656 8-K 1 a91537e8vk.htm FORM 8-K DATED JULY 17, 2003 Smith Micro Software Inc
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of earliest event reported)          July 17, 2003

Smith Micro Software, Inc.

(Exact name of registrant as specified in its charter)
         
Delaware   0-26536   33-0029027
 
 
(State or other jurisdiction
of incorporation)		   (Commission
File Number) 		  (IRS Employer
Identification No.)
         
51 Columbia, Suite 200, Aliso Viejo, California
   92656
(Address of principal executive offices)
    (Zip Code)
     
Registrant’s telephone number, including area code         (949) 362-5800

None

Item 7.   Exhibits.

     99.1  Press Release of Smith Micro Software, Inc. dated July 17, 2003.

Item 9.   Regulation FD Disclosure

The information contained in this Item 9 of this Current Report is being furnished pursuant to “Item 12. Results of Operations and Financial Condition” of Form 8-K in accordance with SEC Release Nos. 33-8216 and 34-47583.

The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

On July 17, 2003, the Registrant issued a press release announcing its results of operations and financial condition for the fiscal quarter ended June 30, 2003. The press release is attached to this report as Exhibit 99.1.

 

Table of Contents

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
    SMITH MICRO SOFTWARE, INC.
   
    (Registrant)
     
     
July 17, 2003   By:    /s/    ROBERT W. SCHEUSSLER
 
Date   Name: Robert W. Scheussler
Title:   Chief Operating Officer and Chief Financial Officer

 

Table of Contents

Index to Exhibits

     
Exhibit Number   Exhibit
 
99.1   Press Release of Smith Micro Software, Inc. dated July 17, 2003.

  EX-99.1 3 a91537exv99w1.htm EXHIBIT 99.1 exv99w1

 

EXHIBIT 99.1

(SMITH MICRO SOFTWARE LOGO)

     
AT THE COMPANY:   S&S PUBLIC RELATIONS:
Bruce T. Quigley   Steve Simon
Director of Business Development   Media Inquiries
949-362-5800   847-955-0700
bquigley@smithmicro.com   steve@sspr.com

Immediate Release

Smith Micro Announces 2003 Second Quarter Results
Continued Strength in the Wireless Market Fuels Profit

Aliso Viejo, Calif., July 17, 2003— Smith Micro Software, Inc. (NASDAQ: SMSI), a developer and marketer of a wide range of software and service solutions for the wireless and Internet markets, today reported its second quarter 2003 results.

The company reported net revenues for the quarter ended June 30, 2003, of $2.3 million, compared to $1.6 million recorded in the second quarter of 2002. The company’s net income of $124,000 in the second quarter of 2003 resulted in a net profit of $.01 per basic and diluted share, compared to a net loss of $495,000 in the second quarter 2002 or a net loss of $.03 per basic and diluted share.

“The wireless business continues to grow quarter over quarter including revenue in the second quarter of 2003 generated by new business that involved our QuickLink® Mobile Wi-Fi solution,” said William W. Smith, Jr., President and Chief Executive Officer. “We are also looking forward to more rewards of our focus in the Wi-Fi sector.”

“As we add more WWAN and Wi-Fi business going forward, we continue to strengthen our leadership position in the wireless market,” Smith concludes.

Investor Conference Call

Smith Micro will hold an investor conference call to discuss the company’s results at 4:30 p.m. Eastern time, Thursday, July 17, 2003. Investors may access the conference call over the Internet via the company’s website www.smithmicro.com or at http://www.firstcallevents.com/service/ajwz384712916gf12.html.

-more-

 

 

     
Smith Micro 2nd Quarter 2003 Financial Results   Page 2 of 5

About Smith Micro Software

Smith Micro Software, Inc., headquartered in Aliso Viejo, CA, is a developer and marketer of wireless communication and utility software products. The company designs integrated cross platform, easy-to-use software for personal computing and business solutions around the world. With a focus on the Internet, Wireless, and Broadband technologies, the company’s products and services enable wireless communications, eCommerce, eBusiness, Internet communications (voice-over-IP), video conferencing, and network fax, along with traditional computer telephony. Smith Micro’s complete line of products is available through direct sales, retail stores, value-added resellers (VARs) and original equipment manufacturers (OEMs). Smith Micro’s common stock trades on The Nasdaq Stock Market® under the symbol SMSI. For more information, contact Smith Micro at (949) 362-5800 or visit the company’s Web site at www.smithmicro.com.

This release may contain forward-looking statements that involve risks and uncertainties, including without limitation risks and uncertainties relating to the company’s financial prospects and projections, the company’s plans for returning to sustained profitability and the company’s ability to increase its business in the Wireless and Broadband segments. 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 distribution customers, new and continuing adverse economic conditions, and the company’s ability to compete effectively with other software companies. These and other factors could cause actual results to differ materially from those presented in any forward-looking statement and are discussed in the company’s filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q.

Smith Micro and the Smith Micro logo are trademarks or registered trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.

Note: Financial Schedules Attached

 

 

     
Smith Micro 2nd Quarter 2003 Financial Results   Page 3 of 5

Smith Micro Software, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)

                   
      Three Months Ended
      June 30
      (unaudited)
      2003   2002
     
 
Net Revenues:
                
 
Products
   $ 2,070     $ 1,353  
 
Services
     216       264  
 
    
     
 
Total Net Revenues
     2,286       1,617  
Cost of Revenues:
                
 
Products
     430       234  
 
Services
     85       151  
 
    
     
 
Total Cost of Revenues
     515       385  
 
    
     
 
Gross Margin
     1,771       1,232  
Operating Expenses:
                
 
Selling & Marketing
     361       567  
 
Research & Development
     603       520  
 
General & Administrative
     670       622  
 
    
     
 
Total Operating Expenses
     1,634       1,709  
 
    
     
 
Operating Income (Loss)
     137       (477 )
Interest Income
     9       10  
Interest & Other Expenses
     (22 )     (24 )
 
    
     
 
Income (Loss) Before Income Tax
     124       (491 )
Income Tax Expense
     —       4  
 
    
     
 
Net Income (Loss)
   $ 124     $ (495 )
 
    
     
 
Net Income (Loss) per share, basic
   $ 0.01     $ (0.03 )
 
    
     
 
Weighted average shares outstanding, basic
     16,257       16,235  
 
    
     
 
Net Income (Loss) per share, diluted
   $ 0.01     $ (0.03 )
 
    
     
 
Weighted average shares outstanding, diluted
     17,822       16,235  
 
    
     
 

 

 

     
Smith Micro 2nd Quarter 2003 Financial Results   Page 4 of 5

Smith Micro Software, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)

                   
      Six Months Ended
      June 30
      (unaudited)
      2003   2002
     
 
Net Revenues:
                
 
Products
   $ 3,655     $ 2,810  
 
Services
     498       700  
 
    
     
 
Total Net Revenues
     4,153       3,510  
Cost of Revenues:
                
 
Products
     751       604  
 
Services
     169       550  
 
    
     
 
Total Cost of Revenues
     920       1,154  
 
    
     
 
Gross Margin
     3,233       2,356  
Operating Expenses:
                
 
Selling & Marketing
     943       1,232  
 
Research & Development
     1,257       1,060  
 
General & Administrative
     1,138       1,111  
 
    
     
 
Total Operating Expenses
     3,338       3,403  
 
    
     
 
Operating Loss
     (105 )     (1,047 )
Interest Income
     16       22  
Interest & Other Expenses
     (34 )     (44 )
 
    
     
 
Loss Before Income Tax
     (123 )     (1,069 )
Income Tax Expense
     3       8  
 
    
     
 
Net Loss
   $ (126 )   $ (1,077 )
 
    
     
 
Net Loss per share, basic & diluted
   $ (0.01 )   $ (0.07 )
 
    
     
 
Weighted average shares outstanding, basic & diluted
     16,240       16,234  
 
    
     
 

 

 

     
Smith Micro 2nd Quarter 2003 Financial Results   Page 5 of 5

Smith Micro Software, Inc
CONSOLIDATED BALANCE SHEETS
(in thousands)

                   
      June 30,   December 31,
      2003   2002
     
 
      (unaudited)        
ASSETS
                
Current Assets:
                
Cash & Cash Equivalents
   $ 3,264     $ 3,627  
Accounts Receivable, Net
     1,410       633  
Inventory, Net
     45       45  
Prepaids & Other Assets
     146       263  
 
    
     
 
 
Total Current Assets
     4,865       4,568  
Equipment & Improvements, Net
     144       220  
Intangible Assets, Net
     81       224  
Goodwill
     1,715       1,715  
Other Assets
     93       39  
 
    
     
 
TOTAL ASSETS
   $ 6,898     $ 6,766  
 
    
     
 
LIABILITIES & STOCKHOLDERS’ EQUITY
                
Current Liabilities:
                
Accounts Payable
   $ 734     $ 445  
Accrued Liabilities
     592       709  
 
    
     
 
 
Total Current Liabilities
     1,326       1,154  
 
                
Common Stock
     16       16  
Additional Paid In Capital
     24,873       24,787  
Accumulated Deficit
     (19,317 )     (19,191 )
 
    
     
 
 
Total Stockholders’ Equity
     5,572       5,612  
 
    
     
 
TOTAL LIABILITIES & EQUITY
   $ 6,898     $ 6,766  
 
    
     
 

####

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