Smith Micro Software Inc. (SMSI) Stock Up 25% on Q4 Profits
Smith Micro Software Incorporated reported yesterday that its fourth quarter earnings beat market estimates. Morgan Joseph analyst Kevin Dede said, “The rise in shares was due to the earnings beat and covering of short positions by investors.” Smith Micro earned 25 cents a share, excluding items, for the fourth quarter, while analysts on average were expecting earnings of only 20 cents a share, excluding special items, according to Reuters Estimates. Looking forward, the company also said that it is expecting revenue of $95 million to $105 million for fiscal ‘08, analysts are expecting revenue of $102.7 million. The earnings release…