$1.5-Million Loss Posted by Smith Micro Software

Smith Micro Software Inc., provider of communication software for personal computers, reported a net loss of $1.5 million, or 11 cents a share, for 1996, which included a charge for acquired research and development of $5.2 million. That contrasts with net income of $3.8 million, or 30 cents a share, for 1995. Revenue increased 23% to $22.1 million from $18 million. Fourth quarter net income was $541,000, or 4 cents a share, compared with net income of $1.2 million, or 9 cents a share, for the fourth quarter a year earlier. Revenue was unchanged at $4.9 million.

The company completed its initial public offering in September 1995.