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Friday, February 15, 2019

=LogMeIn (LOGM) reported earnings on Thur 14 Feb 2019 (a/h)

LogMeIn beats by $0.06, beats on revs; guides Q1 revs in-line; guides FY19 revs in-line 
  • Reports Q4 (Dec) earnings of $1.47 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $1.41; Non-GAAP revenues rose 12.6% year/year to $310.7 mln vs the $306.57 mln S&P Capital IQ Consensus.
  • Co issues in-line guidance for Q1, sees Q1 Non-GAAP revs of $304-306 mln vs. $305.23 mln S&P Capital IQ Consensus. Adjusted EBITDA is expected to be in the range of $94 million to $96 million, or approximately 31% of non-GAAP revenue.
  • Co issues in-line guidance for FY19, sees FY19 Non-GAAP revs of $1.25-1.26 bln vs. $1.26 bln S&P Capital IQ Consensus.  Adjusted EBITDA is expected to be in the range of $407 million to $412 million, or approximately 33% of non-GAAP revenue.
  • The Company is announcing a board succession plan whereby the Company's co-founder and Chairman, Michael K. Simon, will resign from the board, effective upon the conclusion of the Company's Annual Meeting of Stockholders on May 30, 2019 and his position as Chairman effective March 1, 2019. The Board has named Robert Calderoni, who is currently serving as a member of the Board, to succeed Mr. Simon as the Company's Chairman.
  • In order to help fund these growth initiatives, the Company will undertake a global restructuring plan designed to streamline our organization and reallocate resources to better align with our growth acceleration goals. The Company expects to substantially complete this restructuring by the end of fiscal year 2019.

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