Wednesday, February 9, 2011

Smith Micro Hit By Customer Pullback

Aliso Viejo-based Smith Micro Software, which develops software for the wireless industry, said late Tuesday evening that it is suspending its 2011 annual revenue guidance, and will withdraw from a investment conference this week, after it says orders from a "key customer" will fall below expected levels. The firm said it believes that customer has "sufficient inventory" to support sales of its mobile broadband services for the first quarter. The firm said it now expects first quarter 2011 revenues to be in the range of $15 to $20M, down from earlier estimates.