OUCH! - SMSI closed at $5.66 - that’s gotta hurt. They reported financials yesterday indicating their “net loss of $0.13 reversed a $0.18 profit last year and missed analysts' target by a penny.” And they are projecting similar bearish results for next quarter.

They “blamed the current weakness on a purchasing cutback from a major customer”.

All sounds like it's related to their mobile communications & cloud software products.  Don’t own any myself, but kinda keep an eye out for news about the company.

-quotes above from story today at Motley Fool:

http://www.fool.com/investing/general/2011/05/05/smith-micro-shares-plunged-what-you-need-to-know.aspx