Smith Micro Software Inc.: The Aliso Viejo...

Smith Micro Software Inc.: The Aliso Viejo provider of communication software for personal computers reported that third-quarter net income declined 65% to $390,000, or 3 cents a share, from $1.1 million, or 9 cents a share, for the comparable period last year. Revenue dropped 25% to $3.8 million from $5.1 million.

For the first nine months, the company posted a net loss of $2.1 million, or 15 cents a share, which included a one-time write-off of $5.2 million in the first quarter related to the acquisition of Performance Computing Inc. That compares net income of $2.7 million, or 21 cents a share, for the 1995 third quarter. Revenue increased 31% to $17.1 million from $13.1 million. The company had its initial public stock offering in September 1995.