Smith Micro Loses Nearly $1 Million in 4th Quarter

Smith Micro Software Inc., Aliso Viejo software developer for the e-commerce, Internet and Macintosh markets, said it lost $980,000, or 6 cents a share, for the fourth quarter, compared with a net loss of $679,000, or 5 cents a share, a year ago. Revenue declined 7% to $2.5 million. For the year, Smith Micro recorded a net loss of $6.1 million, or 40 cents a share, which included a one-time noncash tax charge of $1.2 million. That compares with a net loss of $1.9 million, or 13 cents a share, for 1998. Revenue was up 5% to $10.7 million.

Smith Micro also named Richard C. Bjorkman vice president of finance and chief financial officer. Bjorkman succeeds Mark Nelson, who left for health-related reasons, the company said.

Bjorkman, 50, was previously vice president of finance at Zland.com, which develops software to help companies automate business processes via the Internet.