LogMeIn Announces Fourth Quarter And Fiscal Year 2012 Results
WOBURN, Mass., Feb. 14, 2013 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (Nasdaq:LOGM), a leading provider of essential cloud and mobile services, today announced its results for the fourth quarter and fiscal year ended December 31, 2012.
For the fourth quarter of 2012, total revenue increased 14 percent to $37.0 million from $32.3 million reported in the fourth quarter of 2011. Total subscription revenue increased 20 percent to $36.5 million, up from $30.4 million in the fourth quarter of 2011.
GAAP net income for the fourth quarter of 2012 was $2.2 million, or $0.09 per diluted share. This compares to GAAP net income of $2.0 million, or $0.08 per diluted share, reported in the fourth quarter of 2011.
Non-GAAP net income for the fourth quarter of 2012 was $6.0 million, or $0.24 per diluted share, and reflects a tax benefit associated with the reversal of a valuation allowance related to certain deferred tax assets. Non-GAAP net income excludes $4.4 million in stock compensation expense, $1.1 million in patent litigation related expense and $1.1 million in acquisition related costs and amortization. This compares to Non-GAAP net income of $4.9 million, or $0.19 per diluted share, reported in the fourth quarter of 2011. For fiscal year 2012, revenue increased 16 percent to $138.8 million from $119.5 million in 2011. Total subscription revenue increased by 23 percent to $136.7 million, up from $110.9 million in 2011. GAAP net income for fiscal year 2012 was $3.6 million or $0.14 per diluted share, as compared to $5.8 million, or $0.23 per diluted share, reported in fiscal year 2011. Non-GAAP net income for fiscal year 2012 was $18.4 million, or $0.72 per diluted share, as compared to $17.3 million, or $0.69 per diluted share, reported in fiscal year 2011. Non-GAAP net income for fiscal year 2012 excludes $14.8 million in stock compensation expense, $1.5 million in patent litigation related expense and $5.5 million in acquisition related costs and amortization.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
