LogMein: 4Q Earnings Snapshot
BOSTON (AP) _ LogMein Inc. (LOGM) on Thursday reported fourth-quarter net income of $25.4 million.
The Boston-based company said it had profit of 49 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.47 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The remote computer access company posted revenue of $310.2 million in the period. Its adjusted revenue was $310.7 million, also topping Street forecasts. Six analysts surveyed by Zacks expected $306.6 million.
For the year, the company reported profit of $74.4 million, or $1.42 per share. Revenue was reported as $1.21 billion.
For the current quarter ending in April, LogMein expects its per-share earnings to range from $1.12 to $1.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.35.
The company said it expects revenue in the range of $304 million to $306 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $302.2 million.
LogMein expects full-year earnings in the range of $4.90 to $4.97 per share, with revenue ranging from $1.25 billion to $1.26 billion.
LogMein shares have risen 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $95.94, a fall of 26 percent in the last 12 months.