- Smith Micro (NASDAQ:SMSI) is down sharply after slightly missing Q2 revenue estimates and posting in-line EPS. The revenue shortfall is blamed on a $500K customer charge-back.
- Notably, the company didn't provide full-year guidance in its earnings release, as it did in its prior two earnings reports. CEO Bill Smith, when asked about guidance on the CC (transcript): "We are not updating guidance. We know we have this steep hill to climb in the second half of the year and we are still on a path to achieving that goal ... Clearly, we are looking strong growth from our existing customers. I have alluded to a number of ... transactions that are in the works, all of which are important steps and we need help, obviously, from both our cable MSOs and our carriers."
- When pressed about SMSI's Q3 outlook, Smith suggested the company expects some Q/Q growth, without giving a specific figure. Consensus is for revenue to rise 27% Q/Q to $11.9M. He added Sprint revenue is expected to grow throughout the rest of 2015, and that the company expects to "see a lot of activity out of Comcast."
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Q2 results, PR