The expected gravity for the kit is 1.042 - 1.046. Mine was 1.036.
That's a bit tough to swallow - typically, if you're brewing extract, you're going to get what you shoot for, period. So, a couple questions:
1) Were you brewing a kit, or were you brewing a recipe you read somewhere (HBT, a magazine, etc)?
2) Did you do a full boil, or did you do a partial boil and top off to 5 gallons in your fermenter?
I suspect that either you used a recipe that was less than accurate in its stated figures (though you said you used BeerSmith, so this line of thought can probably be dismissed) or you used a partial boil and topped off in your fermenter.
When topping off in your fermenter, it's very common to not get the top off water and the wort mixed 100% homogenously, and the gravity sample you pull can be a little more heavily weighted towards either the wort or the water. Rest assured, if you added the weights of extract and the volumes of water that you plugged into BeerSmith, then you wound up with the OG that BeerSmith projected - it just may take a bit of time (fermentation will take care of this!) for that to all blend homogenously.
And as for checking pre-boil gravities and adjusting, that's more of an all-grain thing. Folks who brew with grain tend to check their wort pre-boil, to make sure that they really extracted as much sugars as they expected (or, in some cases, no more than they expected) so they can add extract or water to adjust the gravity before they begin boiling. Particularly if you're doing a partial boil, the math you'd have to do to figure out gravity adjustments would make my head hurt a little bit.
EDIT: I forgot one final source for your gravity being off: your hydrometer itself! Have you calibrated it? Check it with some water at 60 degrees - it should read 1.000. If it does not, then you know how far off (high or low) your readings are. Also, were you measuring wort at 60 degrees? If not, you need to correct for temperature - I think BeerSmith has a built in tool for that.