Smith Micro Software (SMSI) was among the biggest losers Friday, falling more than 46% in midday trading, after the wireless telecom provider missed Q1 earnings and revenues in its report out Thursday.
SMSI said Q1 sales were $8.4 million, missing the mean Bloomberg estimate for $9.9 million. Non-GAAP loss was $0.07 per share, two cents worse than estimates.
SMSI also reported Thursday that, based on the company’s restructuring plans, CFO Schmidt will leave the company on May 19.
SMSI shares were halted briefly in Thursday’s after hours and again Friday, but last traded near $0.79 per share. The stock traded near the low end of the 52-week range between $0.66 and $2.69.
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