Brief: Smith Micro Today Announces Notice Of Termination From Tier 1 Carrier For Company's Family Safety Solution

Smith Micro Software

27/02/2023 14:19

Feb 27 (Reuters) - Smith Micro Software Inc  SMSI.O :
    * SMITH MICRO TODAY ANNOUNCES NOTICE OF TERMINATION FROM
TIER 1
CARRIER FOR COMPANY'S FAMILY SAFETY SOLUTION
    * CO EXPECTS TO CONTINUE TO RECOGNIZE REVENUE UNDER CONTRACT
THROUGH REMAINDER OF FISCAL YEAR
    * WILL ALSO ACCELERATE COST SAVING INITIATIVE THAT BEGAN
LAST YEAR
    * CO IS REVIEWING AND EXPECTS TO TAKE APPROPRIATE ACTION TO
REDUCE
EXPENSES ASSOCIATED WITH AFFECTED CUSTOMER AGREEMENT
    * AT CUSTOMER'S ELECTION, CO REMAINS OBLIGATED TO DELIVER
SERVICE
UNDER AGREEMENT FOR A TRANSITION PERIOD OF UP TO 180 DAYS BEYOND
JUNE 30

Source text for Eikon:  ID:nBw8NjCs2a 
Further company coverage:  SMSI.O 

 ((Reuters.Briefs@thomsonreuters.com))