LogMeIn, Inc. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenues of $83,266,000 compared with $64,834,000 for the same period a year ago. Income from operations was $3,360,000 compared with $2,549,000 for the same period a year ago. Income before income taxes was $3,087,000 compared with $2,872,000 for the same period a year ago. Net income was $2,506,000 or $0.10 per diluted share compared with $2,388,000 or $0.09 per diluted share for the same period a year ago. Non-GAAP operating income was $18,620,000 compared with $12,580,000 for the same period a year ago. Non-GAAP income before income taxes was $18,347,000 compared with $12,903,000 for the same period a year ago. Non-GAAP net income was $12,736,000 or $0.49 per diluted share compared with $9,061,000 or $0.35 per diluted share for the same period a year ago. Adjusted EBITDA was $21,373,000 compared with $14,647,000 for the same period a year ago. Net cash provided by operating activities was $25,994,000 compared with $18,587,000 for the same period a year ago. Purchases of property and equipment was $4,436,000 compared with $2,668,000 for the same period a year ago. Intangible asset additions was $323,000 compared with $866,000 for the same period a year ago.

For the six months, the company reported revenues of $163,000,000 compared with $125,943,000 for the same period a year ago. Income from operations was $2,653,000 compared with $1,585,000 for the same period a year ago. Income before income taxes was $1,767,000 compared with $3,307,000 for the same period a year ago. Net income was $1,433,000 or $0.06 per diluted share compared with $2,760,000 or $0.11 per diluted share for the same period a year ago. Non-GAAP operating income was $32,300,000 compared with $23,241,000 for the same period a year ago. Non-GAAP income before income taxes was $31,414,000 compared with $24,963,000 for the same period a year ago. Non-GAAP net income was $21,801,000 or $0.84 per diluted share compared with $17,574,000 or $0.69 per diluted share for the same period a year ago. Adjusted EBITDA was $37,959,000 compared with $27,200,000 for the same period a year ago. Net cash provided by operating activities was $63,994,000 compared with $58,565,000 for the same period a year ago. Purchases of property and equipment was $8,812,000 compared with $6,569,000 for the same period a year ago. Intangible asset additions was $715,000 compared with $1,884,000 for the same period a year ago.

The company provided earnings guidance for the third quarter and full year of 2016. For the third quarter of 2016, the company expects revenue to be in the range of $84.2 million to $84.7 million. Adjusted EBITDA is expected to be in the range of $22.7 million to $23.3 million. Non-GAAP net income is expected to be in the range of $13.4 million to $13.8 million, or $0.52 to $0.53 per diluted share. Non-GAAP net income excludes an estimated $9.4 million in stock-based compensation expense and $14.4 million in acquisition-related costs and amortization, including costs associated with the company's proposed merger with Citrix's GoTo family of products. Non-GAAP net income for the third quarter assumes an effective tax rate of approximately 30%. Including stock-based compensation expense and acquisition-related costs and amortization, the company expects to report a GAAP net loss in the range of $4.1 million to $3.6 million, or $0.16 to $0.14 per share. GAAP net loss for the third quarter assumes an effective tax rate of approximately 9%.

For the full year of 2016, the company expects full year 2016 revenue to be in the range of $333.0 million to $335.0 million. Adjusted EBITDA is expected to be in the range of $84.9 million to $87.1 million. Non-GAAP net income is expected to be in the range of $49.9 million to $51.4 million, or $1.91 to $1.97 per diluted share. Non-GAAP net income excludes an estimated $36.6 million in stock-based compensation expense and $35.6 million in acquisition-related costs and amortization including costs associated with the company's proposed merger with Citrix's GoTo family of products. Non-GAAP net income for the full fiscal year 2016 assumes an effective tax rate of approximately 30%. Including stock-based compensation expense and acquisition-related costs and amortization, the company expects to report results in the range of a GAAP net loss of $1.0 million, or $0.04 per share, to GAAP net income of $1.2 million, or $0.04 per diluted share.