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LogMeIn Announces Fourth Quarter And Fiscal Year 2012 Results

"We plan to increase our investment in our Access and Collaboration cloud services this year to better capitalize on growing demand in this multi-billion dollar market. Our online meeting product, join.me, continues to be our fastest growing product. And we believe the recent introduction of Cubby – our latest addition to our Access and Collaboration product group -- gives LogMeIn a compelling and complementary suite of cloud services for today's mobile workplace. Together, we believe these products will be a key driver of growth for LogMeIn in 2013 and beyond."

Business Outlook

Based on information available as of February 14, 2013, LogMeIn is issuing guidance for the first quarter 2013 and fiscal year 2013. 

First Quarter 2013: The Company expects first quarter revenue to be in the range of $36.0 million to $36.5 million.

Non-GAAP net income is expected to be in the range of $2.2 million to $2.6 million, or $0.09 to $0.10 per diluted share. Non-GAAP net income excludes an estimated $5.4 million of stock compensation expense, $3.0 million in patent litigation related expenses, and $1.0 million in acquisition related costs and amortization.

Non-GAAP net income for the first quarter assumes an effective tax rate of 50 percent. Non-GAAP net income per diluted share for the first quarter of 2013 is based on an estimated 25.5 million fully-diluted weighted average shares outstanding.

Including stock compensation expense, patent litigation related expenses, and acquisition related costs and amortization we expect to report a GAAP net loss in the range of $5.0 million to $5.5 million, or $0.20 to $0.22 per share. 

The GAAP net loss for the first quarter assumes income tax expense of $1.2 million to $1.4 million. GAAP net loss per share for the first quarter of 2013 is based on an estimated 24.7 million weighted average shares outstanding.

Fiscal year 2013: The Company expects full year 2013 revenue to be in the range of $154.0 million to $157.0 million. 

Non-GAAP net income is expected to be in the range of $11.0 million to $12.5 million, or $0.43 to $0.49 per diluted share. Non-GAAP net income excludes an estimated $20.7 million in stock compensation expense, $3.8 million in patent litigation related expenses, and $3.3 million in acquisition related costs and amortization. 

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