LogMeIn (NASDAQ:LOGM) Fiscal First Quarter Profit Estimate Misses Guidance – LOGM, CTXS, VMW, ADBE

LogMeIn Inc (NASDAQ:LOGM) reported it estimate fiscal Q1 earnings lower than analysts’ forecasts on higher tax rate. Shares of the company tumbled around 24% in extended trading session.

Remote-access software maker, which mostly targets small units and consumers, reported it projected its tax rate to be almost 50% in the present quarter, high from an effective tax rate of 39% in the fiscal Q4.

LogMeIn projects fiscal Q1 adjusted earnings of 9 cents to 10 cents a share on $36 million to $36.5 million of revenue.

Thomson Reuters analysts were forecasting earnings of 18 cents a share on revenue of $38.2 million. Net income of the company hiked to $2.2 million or 9 cents a share in fiscal Q4 from $2 million or 8 cents a share in previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Citrix Systems, Inc. (NASDAQ:CTXS) rose +0.85% to settle at $72.62, VMware, Inc. (NYSE:VMW) moved up +2.14% to end at $74.95 while Adobe Systems Incorporated (NASDAQ:ADBE) jumped +0.06% to finish at $38.63 on Friday.

LogMeIn Inc (NASDAQ:LOGM) last session’s volume of 7.03 million shares was surprisingly higher than its average volume of 401,373 shares. The stock after opening at $18.00 hit high price of $18.17 and then closed at $16.65 by scoring -29.63%.

The liquidity measure in recent quarter results of the company was recorded 2.65 as current ratio. The Company had total cash of $212.09 million at hand and a book value per share as $7.44 in the most recent quarter.

The stock’s price volatility was 5.45% for a week and 3.27% for a month as well as price volatility’s Average True Range for 14 days was 1.18 and its beta remained at 0.41.

LOGM generated revenue of $134.17 million in the previous twelve months and earned $3.39 million. The Company showed a positive 2.52% in the net profit margin as well as in its operating margin which remained at 6.48%. Company’s annual sales growth for the past five years was 60.24%.

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