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Remote-access software maker LogMeIn (LOGM +0.00%) 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 (NASDAQ: VOCS) 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.

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About the Author

Rich Smith
Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”
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