SMSI

[la-onda]

Turnaround play imho

fyi:
SMSI: New 52-Wk Low @ $7.660 dn 2.04%
Wednesday, November 28, 2007 10:00ET

This is the 3rd 52 WEEK LOW alert for SMSI in the past 7 calendar days.

The share price for Smith Micro Software, Incorporated (NASDAQ NM: SMSI) reached a new 52-week low today, trading at $7.660, down $-0.160 (-2.04%) from its previous close of $7.820. The Company's previous 52-week low of $7.780 was set yesterday on November 27, 2007. One year ago, the Company's shares closed at $15.790. The price has declined more than 51 percent since then. At the time of this alert, the stock had traded 92,700 shares via 216 trades, 94.25% below it's 20day average of 1,610,845 shares.

This new 52-week low currently puts the stock:

21.09% below its 20day Moving Average of $9.708
42.63% below its 50day Moving Average of $13.352
47.32% below its 100day Moving Average of $14.540

The Company last released news on November 28, 2007 (today):

"Smith Micro Software's Consumer Group Launches Digital TV 4 PC (DTV4PC)"

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Motley Fool:
Despite such support, Smith Micro's stock has fallen by half since it released a weak earnings report at the end of last month, in which costs rose even as revenue increased. It's got a strong relationship with Verizon  (NYSE: VZ). However, since Verizon brings in some 67% of the company's revenue, the wireless provider poses potential risks should it slow or halt spending. But with Smith Micro's new multimedia software being introduced for smartphones, Fools are looking for the company to rebound.

More than 700 CAPS investors have rated Smith Micro, with 97% believing it will ultimately outperform the market. CAPS player aprato64 believes the sell-off has been overplayed and that the company, with a strong balance sheet, should be able to prosper:
Stock has been ridiculously beaten down since Q3 '07 earnings. They have no debt, millions in cash which they can use to acquire complementary companies without financing. Strong relationship with Verizon. Music is not the future of this company ... it's the software, particularly StuffIt Wireless. Good [acquisition] strategy. I really believe this will be an earnings monster. Disclosure: I own shares of SMSI.

Another CAPS player, Ebbs23, sees Smith Micro's multimedia capabilities as the cornerstone of driving future technology:
Cell phones aren't just for talking anymore. New technology/gadgetry is constantly evolving and being added to phones. Technology such as MP3 capability, cameras, video, [hard drive] storage etc. SMSI helps make all of that happen.


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Analysts:

Smith Micro Software "buy," target price reduced - update
Thursday, November 01, 2007 11:12:47 AM ET
UBS

NEW YORK, November 1 (newratings.com) - Analyst Maynard J Um of UBS maintains his "buy" rating on Smith Micro Software Inc (ticker: SMSI), while revising his estimates for the company. The 12-month target price has been reduced from $23 to $20.
In a research note published this morning, the analyst mentions that the company has posted its 3Q revenues and EPS in-line with expectations. Robustness in Smith Micro Software's other divisions is likely to help offset the multimedia weakness in 4Q, the analyst says. The pro forma EPS estimate for 2007 has been reduced from $0.87 to $0.84 to reflect higher opex in 4Q. The EPS estimate for 2008 has been raised from $0.78 to $0.78 to reflect a lower tax rate.

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Smith Micro Software "buy"

Friday, November 16, 2007 8:38:42 AM ET
Morgan Joseph & Co

NEW YORK, November 16 (newratings.com) - Analyst Kevin Dede of Morgan Joseph reiterates his "buy" rating on Smith Micro Software Inc (ticker: SMSI). The target price is set to $20.

In a research note published this morning, the analyst mentions that the company has announced a deal with e-frontier to buy the ownership of certain assets for $6 million in cash. The deal is likely to boost Smith Micro Software's revenues by $7 million in FY08 and implies that Smith Micro Software is interested in building its consumer business, the analyst says. Smith Micro Software's data-related connectivity revenues are likely to rise sequentially by 20% to $9.6 million in 4Q07, Morgan Joseph adds.

ugly chart:

[la-onda]

1)
Smith Micro Software upgraded to "buy"
Friday, November 30, 2007 4:39:54 AM ET
Matrix Research
NEW YORK, November 30 (newratings.com) - In a research note published yesterday, analysts at Matrix Research upgrade Smith Micro Software Inc (ticker: SMSI) from "hold" to "buy."

latest update:
http://mkr-group.com/SMSI/presentations.html

Slides:

[la-onda]

Keep an eye on SMSI.  Lots of speculation that they might be getting
some OEM agreements in place with handheld units.  This was allegedly
leaked out in the following article which appeared in the Wall Street
Journal and this snippet was not "known news" at the time, nor is it
now.  Whether there are some announcements this week at the CES or
not, is left to conjecture.  Spin the wheel.

Technological Gadgets Smarten Up
By BEN CHARNY
December 31, 2007; Page B3

SAN FRANCISCO -- Thanks to improved software andmore-powerful chips,
devices once considered "dumb" -- like the TVremote or personal
navigator -- are doing more and threatening to eatinto sales of other
kinds of electronics.

-------------------- excerpt of text
----------------------------------------

The cellphone breakthroughs will keep coming. At next month's CES
show, Smith Micro Software Inc. plans to announce that several handset
makers are adding its software to view videos, picturesand other media
stored on the phone. Meanwhile, speech-recognition technology from
Nuance Communications Inc. will become part of Palm's devices and
serve as a way to operate the phone.

-------------------- end of excerpt
---------------------------------------

I would have put the whole article up but the copy paste ran a bunch
of words together and it's a long article.  Here is the link.

http://online.wsj.com/article/SB119905604752158353.html?mod=yahoo_hs&ru=yahoo

chart near 52 weeks low!

[la-onda]

fyi:
Smith Micro Software "buy," target price reduced
8:22a.m. - Morgan Joseph & Co

NEW YORK, February 25 (newratings.com) - Analysts at Morgan Joseph maintain their "buy" rating on Smith Micro Software Inc (SMSI), while reducing their estimates for the company. The target price has been reduced from $20 to $11.

In a research note published this morning, the analysts mention that the company's guidance for future performance is conservative. This is due to the uncertain economic conditions and the shift from music connectivity kits to software distributed in the phone box at Verizon, the analysts say. Smith Micro Software's operating costs are likely to rise from $31.6 million in FY07 to $51.8 million in FY08 due to the E Frontier and PCTEL's Mobility Solutions Group acquisitions, Morgan Joseph adds. The EPS estimates for FY07 and FY08 have been reduced from $0.80 to $0.77 and from $1.00 and 0.55, respectively

chart:

[la-onda]

From MelfElf:

[BigSully1]

Wow, it's already exceeded Melf's latest downside target now.UGLY

[BigSully1]

Smith Micro Software Reports Fourth Quarter and Fiscal Year 2007 Results
Wednesday March 5, 4:05 pm ET 
Smith Micro Posts Record Net Revenues of $73.4 Million for 2007


ALISO VIEJO, Calif.--(BUSINESS WIRE)--Smith Micro Software, Inc. (NASDAQ: SMSI), a leading developer and marketer of software solutions and services for the wireless market, today reported its 2007 fourth quarter and full year 2007 financial results.
ADVERTISEMENT


"I am pleased to announce our fiscal 2007 results, the best revenue performance in the history of the Company, with record revenues of $73.4 million for the year," said William W. Smith Jr., President and CEO of Smith Micro Software, Inc. "During fiscal 2007 we were very aggressive in pursuing strategic acquisitions, closing four transactions in 2007 and a fifth in early January with our purchase of the PCTEL Mobility Solutions Group, the largest competitor in our Connectivity & Security business segment. With these acquisitions we have added strategic assets in the form of new technologies, products, customers, and geographic market expansion for our future growth."

Mr. Smith continued, "During the fiscal year I was very pleased to see our Connectivity & Security business segment show tremendous revenue growth of 100% over 2006. This is a core technology for Smith Micro and a strong contributor to our organic growth. In 2007, we grew our wireless customer carrier base from 3 to 14 of the premier wireless carriers throughout the world, and see this market continuing to perform well in 2008, as wireless carriers offer new products to broaden their customer reach, and as enterprise level customers begin deploying wireless solutions. We also saw solid revenues in the Multimedia Group and a strong contribution from our Consumer business lines. The recent acquisition of e frontier, Inc.'s assets has expanded our market reach into the fast growing consumer and prosumer graphic marketplace. We expect to see continued growth throughout 2008 in all these markets."

Mr. Smith concluded, "Throughout the fiscal year we made significant strides to expand our portfolio of wireless solutions, expand our overall customer base, and build upon our leadership as the premier wireless software solutions company. For the first time in the Company's history we are adopting a policy of providing annual revenue guidance, and expect our net revenues for fiscal 2008 to be between $95 million and $105 million. We believe this guidance will better ensure that cohesive and consistent expectations can be developed within the investment community. As we look to 2008 and beyond, we remain extremely excited about the opportunities ahead, as we have positioned the Company for long term growth and profitability."

For the fiscal year ended December 31, 2007, the Company reported record net revenues of $73.4 million; a 35% increase over the $54.5 million reported for the fiscal year ended December 31, 2006. Accompanying significant revenue growth, gross margins also improved significantly year on year, from 63% in 2006 to 72% in 2007 on a GAAP basis. Diluted earnings per share were $0.10 for 2007 versus $0.35 for 2006, due primarily to large non-cash GAAP tax charges in 2007, amortization related to acquisitions closed during the year and stock compensation related expenses. Non-GAAP diluted earnings per share, adjusted for such items, were $0.84 for 2007 compared to $0.69 for 2006, an increase of 22%.

Total cash and cash equivalents at December 31, 2007 was $87.5 million, compared to $92.5 million at December 31, 2006. Diluted shares outstanding as of December 31, 2007 increased to 31.0 million as compared to 25.3 million shares outstanding as of December 31, 2006.

Smith Micro reported net revenues of $20.0 million for the fourth quarter ended December 31, 2007, a 16% increase when compared to the $17.2 million reported in the fourth quarter of 2006. Complementing the increase in revenues, gross margins increased from 68% to 77% on a GAAP basis. Diluted EPS for the fourth quarter were $0.02 for 2007 as compared to $0.14 for 2006, which was impacted by non-cash tax charges, amortization related to acquisitions completed during the year and stock compensation related expense. Netting out such items to provide a comparable view, non-GAAP earnings per share for the fourth quarter were $0.25 for 2007 as compared to $0.26 for the same period in 2006.

The Company uses a non-GAAP reconciliation of net income and earnings per share in the presentation of financial results in this press release. Management believes that this presentation may be more meaningful in analyzing our income generation, since amortization of intangibles from acquisitions, stock-based compensation, and non-cash tax expense are excluded from the non-GAAP earnings calculation. This presentation may be considered more indicative of our ongoing operational performance. The tables below present the differences between non-GAAP earnings and net income on an absolute and per-share basis. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and the non-financial measures as reported by Smith Micro Software may not be comparable to similarly titled amounts reported by other companies.

Financial Guidance:

Smith Micro is providing fiscal year 2008 net revenues guidance of $95 million to $105 million.

[la-onda]

SMSI: Northland Sec Ups to Outperform from Market Perform; Ups Tgt to $11 vs $9; Analyst Notes
Thursday , March 06, 2008 11:51ET
Issuer: Smith Micro Software, Incorporated (NasdaqNM: SMSI)
Analyst Firm:  Northland Securities
Ratings Action: UPGRADE
Current Rating: Outperform (from Market Perform)
Target Price Action: INCREASE
Target Price: $11.00 (+22.22% from $9.00)
Analyst Comments: According to the firm, Q4 estimates were in line with expectations: Q4 revenue of $20 million was slightly above their recently lowered $19.5 million estimate and pro-forma (fully taxed) EPS of 14c (cash taxed pro-forma EPS was 22c compared to consensus 21c) was above their 11c estimate due to upside in gross margin (due to the strong performance in the high margin Connectivity portion of the business).