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Smith Micro Software Plunges 38% at Open on Earnings Warning
Автор: FinancialNewsOnline
Загружено: 2011-02-09
Просмотров: 124
Описание:
Smith Micro Software (SMSI) has shed more than a third of its market value out of the gate, after it said it has suspended its full-year 2011 revenue guidance.
It says orders in Q1 for its core connection manager product, primarily from a key customer, will fall below expected levels. It says it believes this has occurred as a result of the customer carrying sufficient inventory to support sales of mobile broadband services for Q1.
It now sees Q1 sales between $15 million and $20 million, sharply lower than the Thomson Reuters mean for $35.22 million.
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