LogMeIn Slips To Loss In Q4; Issues Q1, FY14 Outlook

(RTTNews) - LogMeIn, Inc. (LOGM), a leading provider of essential cloud and mobile services, posted fourth-quarter net loss of $459 thousand, or $0.02 per share, compared to net income of 2.2 million, or $0.09 per share in the comparable quarter last year.

Adjusted net income for the latest fourth quarter was $3.9 million, or $0.16 per share, down from $6.0 million or $0.24 per share in the year-ago period. On average, eleven analysts polled by Thomson Reuters expected the company to report profit of $0.15 per share. Analysts' estimates typically exclude special items.

Total revenue increased 22 percent to $45.18 million from $36.98 million in the prior year quarter, while ten analysts expected revenue of $43.99 million for the quarter.

Looking ahead to the first-quarter, the company expects GAAP net income to be in the range of $0.01 to $0.02 per share, adjusted net income in the range of $0.20 to $0.21 per share and revenue in the order of $46.8 million to $47.3 million.

Analysts currently expect first quarter earnings of $0.17 per share on revenues of $44.27 million.

For fiscal year 2014, the company expects GAAP net income to be in the range of $0.07 to $0.16 per share, adjusted net income in the range of $0.86 to $0.96 per share and revenue in the order of $198.0 million to $202.0 million.

Analysts expect the company to report 2014 profit per share of $0.77 on revenue of $190.31 million.