Top Performer for Friday: Smith Micro (SMSI)

Smith Micro Software, Inc. (SMSI - Analyst Report) is ignoring the market's lackluster session with a share price advance of nearly 11% today, which easily sets up a spot on the Zacks #1 Rank Top Performers List.

There are only 2 covering analysts for SMSI at this time, but they are both in agreement when it comes to their earnings estimate revisions. Expectations for this year are up practically 19% over the past month to 44 cents per share.

Next year's estimate is up more than 13% in that time to 51 cents, which means analysts expect a 16% advance in 2010 over 2009.

The interest was sparked by a solid first-quarter performance on May 6. Revenue reached a record $23.8 million, which was up 9% from the previous year's $21.9 million. One of the highlights for the quarter stemmed from the wireless business segment, which grew 19% year over year.

Earnings per share beat both the consensus and year-ago result.

"We continued to see growth in our core wireless space, as highlighted by several significant new customer wins," said President and CEO William W. Smith Jr. "During the first quarter, we signed new key customer contracts across all of our product groups and believe that these new contracts will be strong contributors to our financial results this fiscal year, especially in the second half of 2009 as these new services launch."

SMSI is part of the Computer Software industry. It is 1 of 6 companies from this space on today's Zacks #1 Rank List, which includes 228 names.

SMSI develops mobility solutions that enable seamless broadband connectivity and next generation of media and mobile convergence products over wireless networks.