* Expects first-quarter adj earnings $0.09 to $0.10/share vs
* Expects first-quarter revenue $36 mln to $36.5 mln vs est
* Fourth-quarter revenue $37 mln vs est $36.7 mln
* Fourth-quarter adjusted earnings $0.24/share vs est $0.18
* Shares down 24 percent in extended trade
Feb 14 Remote-access software maker LogMeIn Inc
forecast first-quarter earnings below analysts'
expectations on higher tax rate, sending its shares down as much
as 24 percent in extended trading.
The company, which mainly targets small businesses and
consumers, said it expected its tax rate to be around 50 percent
in the current quarter, up from an effective tax rate of 39
percent in the fourth quarter.
LogMeIn expects first-quarter adjusted earnings of 9 cents
to 10 cents per share on revenue of $36 million to $36.5
Analysts were expecting earnings of 18 cents per share on
revenue of $38.2 million, according to Thomson Reuters I/B/E/S.
The company's net income rose to $2.2 million, or 9 cents
per share, in the fourth quarter from $2 million, or 8 cents per
share, a year earlier.
Excluding items, the company earned 24 cents per share.
Revenue rose 14 percent to $37 million.
Analysts had expected the company to earn 18 cents per share
on revenue of $36.7 million.
Shares of the Woburn, Massachusetts-based company closed at
$23.66 on the Nasdaq on Thursday.