Remote-access software maker LogMeIn (NASDAQ:LOGM) reported strong Q1 earnings Thursday evening, beating analyst estimates on both profits and revenues, and guiding investors to expect higher-than-consensus earnings for both Q2 and the full year. LogMeIn said it earned $0.12 per share in the fiscal first quarter, will earn $0.11 to $0.12 in Q2, and keep on that track, with about $0.48 per share at the midpoint of guidance for the year.
In a separate statement, the company announced a small change in management, bringing in ex-Vocus (UNKNOWN:VOCS.DL) Chief Operating Officer William R. Wagner to become its own COO. In an SEC filing, LogMeIn noted that it will pay Wagner $400,000 in annual base salary, plus:
- An annual cash bonus of up to $200,000.
- 70,000 shares of restricted stock.
- 70,000 stock options.
LogMeIn shares, up 3.5% already during regular trading, spiked sharply in the wake of the after-hours announcements, rising as much as 16% more additionally to a recent price of $20.76.
Fool contributor Rich Smith owns shares of LogMein. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.