LogMeIn, Inc. (LOGM) reported third-quarter net income of $2.3 million, or $0.09 per share, compared to a GAAP net loss of $56 thousand, or breakeven per share, prior year. Non-GAAP net income for the third quarter of 2014 was $8.1 million, or $0.32 per share.
Adjusted EBITDA for the third quarter of 2014 was $13.3 million, compared to $9.2 million, in the third quarter of 2013.
On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.
Total revenue increased to $58.1 million from $43.0 million. Analysts expected revenue of $56.34 million for the quarter.
LogMeIn announced that its Board has approved a $75 million share repurchase program. The company currently expects to fund the share repurchase program from its cash balances.
LogMeIn expects fourth-quarter revenue to be in the range of $58.4 million to $58.9 million. Adjusted EBITDA is expected to be in the range of $13.4 million to $13.8 million. Non-GAAP EPS is expected to be in the range of $0.32 to $0.33. The company expects GAAP EPS in the range of $0.04 to $0.05. Analysts expect the company to report fourth-quarter profit per share of $0.30 on revenue of $57.27 million.
The company expects full year 2014 revenue to be in the range of $220.5 million to $221.0 million. Adjusted EBITDA is expected to be in the range of $48.0 million to $48.4 million. Non-GAAP EPS is expected to be in the range of $1.15 to $1.16. The company expects GAAP EPS in the range of $0.22 to $0.23. Analysts expect the company to report full year profit per share of $1.09 on revenue of $217.55 million.
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