(Adds share movement)
July 25 Remote-access software maker LogMeIn Inc
forecast third-quarter and full-year results below
analysts' estimates on slower European growth.
The company, which mainly targets small businesses and
consumers, forecast third-quarter adjusted earnings of 16 cents
to 17 cents per share on revenue of $35 million to $35.4
Analysts on average were expecting earnings of 17 cents per
share on revenue of $36.2 million, according to Thomson Reuters
The company's second-quarter net income fell to $576,000, or
2 cents per share, from $2.7 million, or 11 cents per share, a
Excluding items, LogMeIn, which competes with Cisco Systems
Inc's WebEx and products from companies such as Citrix
Systems Inc, VMware Inc and Microsoft Corp
earned 17 cents per share.
Revenue for the quarter rose 16 percent to $33.8 million.
Analysts on average had expected second-quarter earnings of
16 cents per share on revenue of $34.1 million.
Shares of the company fell as much as 16 percent to $25.70
in after-market trade. It closed at $30.87 on Wednesday on the
(Reporting by Sruthi Ramakrishnan & Aurindom Mukherjee in
Bangalore; Editing by Sriraj Kalluvila)