LogMein: 2Q Earnings Snapshot
BOSTON (AP) _ LogMein Inc. (LOGM) on Thursday reported a second-quarter loss of $6.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Boston-based company said it had a loss of 13 cents. Earnings, adjusted for one-time gains and costs, were $1.17 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The remote computer access company posted revenue of $313.1 million in the period. Its adjusted revenue was $313.4 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $310.9 million.
For the current quarter ending in October, LogMein expects its per-share earnings to range from $1.35 to $1.37. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.34.
The company said it expects revenue in the range of $314 million to $316 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $317.3 million.
LogMein expects full-year earnings in the range of $5.05 to $5.11 per share, with revenue expected to be $1.26 billion.
LogMein shares have fallen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $72.35, a decline of 33% in the last 12 months.