Last $42.28 USD
Change Today +0.56 / 1.34%
Volume 158.1K
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

logmein inc (LOGM) Key Developments

LogMeIn and Autotask Integration Empowers MSPs to Efficiently Manage Mobile Workforce

LogMeIn, Inc. unveiled a new integration between LogMeIn Central and Autotask designed to help Managed Service Providers (MSPs) increase their efficiency and reduce response times when managing their clients' highly distributed, mobile-centric work environments. The integration combines two of the most widely used tools by the MSP community to help empower IT service providers by bringing together the remote management and automation benefits of LogMeIn Central with the workflow management benefits of Autotask. As a result, MSPs can create a seamless day-to-day workflow that eliminates the need to use multiple interfaces to handle ticketing, while extending their ability to do more with less time. The LogMeIn Central integration with Autotask gives MSPs the ability to: Generate tickets automatically when alerts are triggered; Diagnose and fix remote computers directly from Autotask; Configure ticket parameters that map to Autotask fields, such as Account, Priority, Queue, Ticket Type and Work Type; Initiate a secure remote control session from Autotask tickets; Automatically update tickets in Autotask when the following alert-related events occur: Return to Normal, Self-healing Task Started and Acknowledgement; Acknowledge alerts in Central when user closes a ticket in Autotask.

LogMein Announces Board Changes

LogMeIn, Inc. has announced Steven Chambers and Marilyn Matz to the company's board of directors. Steven Chambers is a mobile industry and voice services veteran. In addition to LogMeIn, Chambers currently serves on the board of CallMiner and Jibo, Inc. Marilyn Matz is CEO and Co-Founder of Paradigm4. She is also a co-chair of the Mass Technology Leadership Council's Big Data cluster. Prior to Paradigm4, she was a co-founder of Cognex Corporation and senior vice president of the company's PC Vision Products Group. Hilary Schneider, who has served on LogMeIn's board of directors since March of 2011, has resigned her position. Hillary was a great contributor and member of board as expanded market opportunities and positioned the company for today's growth.

LogMeIn, Inc. Presents at Oppenheimer 17th Annual Technology, Internet & Communications Conference, Aug-13-2014 10:25 AM

LogMeIn, Inc. Presents at Oppenheimer 17th Annual Technology, Internet & Communications Conference, Aug-13-2014 10:25 AM. Venue: Four Seasons Hotel, 200 Boylston Street, Boston, MA 02116, United States. Speakers: Michael K. Simon, Chairman, Chief Executive Officer, President and Secretary.

LogMeIn, Inc. Helps Drive Connectivity of Lutron Electronics New Case ta Wireless Connected Home Offering

LogMeIn, Inc. announced that the remote connectivity used to connect users of Lutron Electronics' new Case ta Wireless solution with their homes via a smartphone or tablet is powered by LogMeIn's Xively Internet of Things (IoT) Platform. Lutron turned to LogMeIn for help in building a simple and affordable solution for the average consumer. Lutron hired LogMeIn Professional Services to build the Xively IoT Platform into its Case ta Wireless solution. The Xively platform is built on LogMeIn's proven, highly-scalable, Gravity cloud infrastructure, which supports millions of secure connections between people, devices and data across the globe. Lutron Smart Bridge, a hub that connects and controls Lutron Caséta Wireless dimmers and Lutron Serena(R) and select Sivoia(R) QS remote-controlled shades, connects the customer's home to a smartphone or tablet. LogMeIn consultants used Heroku to develop remote connectivity in the Lutron mobile app, enabling consumers to control Lutron devices via the Smart Bridge from any iOS- or Android-based phone or tablet, from anywhere in the world. With the LogMeIn-enabled Lutron Smart Bridge and app, Lutron can extend connected homes to the mass market According to Swatsky, ease of use and affordability are critical for the general consumer market, deliver real-time experience for consumers The Lutron Smart Bridge provides a remote connected experience that is just as fast as turning on a light or opening a shade, due in part to the fast, roundtrip times enabled by the Xively IoT Platform, enables remote connectivity of entire Case ta Wireless family The Lutron Smart Bridge is compatible with Case ta Wireless in-wall and lamp dimmers, Lutron Serena, Triathlon(R) and select Sivoia(R) QS shading solutions, and Pico(R) remote controls. It will also be compatible with third-party devices, such as the GE telligent(TM) LED bulb, enabling an even richer connected home system and analyze usage patterns to enhance product roadmap Lutron has the ability to collect anonymous usage data for its Smart Bridge hub, app and connected devices.

LogMeIn, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

LogMeIn, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's total revenue increased 35% to $55.0 million from $40.7 million reported in the second quarter of 2013. Adjusted EBITDA was $11.5 million as compared to $8.1 million in the second quarter of 2013. Non-GAAP net income was $7.3 million, or $0.29 per diluted share compared to non-GAAP net income of $3.3 million or $0.13 per diluted share reported in the second quarter of 2013. GAAP net income was $1.3 million or $0.05 per diluted share as compared to GAAP net loss of $1.4 million or $0.06 per diluted share reported in the second quarter of 2013. GAAP cash flow from operations was $21.0 million compared to $6.8 million reported a year ago. The company reported income from operations of $0.78 million and income before income taxes of $1.15 million compared to loss from operations of $0.12 million and loss before income taxes of $0.17 million reported a year ago. On non-GAAP basis, the company reported operating income of $9.7 million and income before income taxes of $10.06 million compared to operating income of $6.70 million and income before income taxes of $6.66 million reported a year ago. Purchases of property and equipment were $2.57 million compared to $4.3 million reported a year ago. Intangible asset additions were $0.816 million compared to $0.373 million reported a year ago. Total revenue increased 35% over the second quarter of 2013. This was primarily driven by 80%-plus growth in its collaboration cloud and continued strong performance in its IT management cloud. Operating cash flow continued to be very strong at 38% of total revenue or $21.2 million during the quarter. Free cash flow was $18.2 million or 33% of revenue. The over-delivering in both operating cash flow and the free cash flow was driven by its increased operating performance in the second quarter. For the six months, the company's total revenue was $103.99 million compared to $78.11 million reported a year ago. Adjusted EBITDA was $21.33 million as compared to $14.95 million reported a year ago. Non-GAAP net income was $12.81 million, or $0.51 per diluted share compared to non-GAAP net income of $6.4 million or $0.26 per diluted share reported a year ago. GAAP net income was $2.33 million or $0.09 per diluted share as compared to GAAP net loss of $7.17 million or $0.29 per diluted share reported a year ago. GAAP cash flow from operations was $45.40 million compared to $12.91 million reported a year ago. The company reported income from operations of $2.4 million and income before income taxes of $2.84 million compared to loss from operations of $6.75 million and loss before income taxes of $5.98 million reported a year ago. On non-GAAP basis, the company reported operating income of $17.93 million and income before income taxes of $18.4 million compared to operating income of $12.37 million and income before income taxes of $13.15 million reported a year ago. Purchases of property and equipment were $4.35 million compared to $6.46 million reported a year ago. Intangible asset additions were $1.32 million compared to $0.915 million reported a year ago. Based on information available as of July 24, 2014, the company issued guidance for the third quarter 2014 and fiscal year 2014. The company expects third quarter revenue to be in the range of $56.0 million to $56.5 million. Adjusted EBITDA is expected to be in the range of $11.5 million to $12.0 million, representing an adjusted EBITDA margin of 20% to 21%. Non-GAAP net income is expected to be in the range of $6.7 million to $7.1 million, or $0.27 to $0.28 per diluted share. Non-GAAP net income excludes an estimated $6.7 million of stock compensation expense, $100,000 in patent litigation related expense and $2.0 million in acquisition related costs and amortization. Non-GAAP net income for the third quarter assumes an effective tax rate of approximately 30%. Including stock compensation expense, patent litigation related expense and acquisition related costs and amortization, the company expects to report GAAP net income in the range of $700,000 to $1.1 million, or $0.03 to $0.04 per share. GAAP net income for the third quarter assumes an effective tax rate of approximately 20%. The company expects full year 2014 revenue to be in the range of $216.5 million to $218.0 million. The company is forecasting revenue growth in excess of 30% for 2014. Adjusted EBITDA is expected to be in the range of $45.0 million to $48.0 million, representing an adjusted EBITDA margin of 21% to 22%. Non-GAAP net income is expected to be in the range of $26.3 million to $28.0 million, or $1.05 to $1.12 per diluted share. Non-GAAP net income for the full fiscal year 2014 assumes an effective tax rate of approximately 30%. Including stock compensation expense, patent litigation related expense and acquisition related costs and amortization, the company expects to report GAAP net income in the range of $3.5 million to $5.4 million, or $0.14 to $0.21 per share. GAAP net income for the full year assumes an effective tax rate of 20%.

 

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