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Last Update: 13-Oct-11 09:58 ET
Smith Micro Software Sees Third Quarter Revenue Below Consensus
Smith Micro Software (SMSI $1.39 -0.25) issued third quarter revenue guidance of $12.6 million versus the $17.12 million Capital IQ Consensus Estimate.
Additionally, the company anticipates that it will record a charge for impairment of goodwill and other long-lived assets plus a reserve for deferred tax assets of approximately $115 million to $125 million. The charge will not impact the co's cash flow or cash position, but it will result in an increase in the net loss and loss per share amounts for the third quarter of 2011 and fiscal year ending December 31, 2011.
Additionally, the company anticipates that it will record a charge for impairment of goodwill and other long-lived assets plus a reserve for deferred tax assets of approximately $115 million to $125 million. The charge will not impact the co's cash flow or cash position, but it will result in an increase in the net loss and loss per share amounts for the third quarter of 2011 and fiscal year ending December 31, 2011.
