The Falcons say they are parting ways with coach Mike Smith Monday after a dismal season.

Smith acknowledged the results have not met the standards he set with winning records in each of his first five years.

"This is a business about winning football games and that's how you're judged," Smith said. "I understand that, and I'll leave it at that. ... This is a business about what have you done for me lately."

The Falcons lost to the Panthers 34-3 Sunday, eliminating a chance for the playoffs.

Smith said he was "very disappointed" in the game and called the performance "not acceptable at all."

Though Smith won two division titles and made four playoff appearances in his first five years, those achievements weren't enough to prevent Atlanta's collapse over the last two seasons.

Smith will leave as the winningest coach in the Falcons' 49-year history.

The Falcons will hold an 11 a.m. news conference -- Watch Channel 2 Action News for updates on this developing story.