Going down, and fast, are shares of LogMeIn (LOGM) which off some 28% this morning after the remote-access software maker forecasted first-quarter earnings Thursday, much below analysts’ expectations. The company expects first-quarter adjusted earnings of 9 cents to 10 cents per share on revenue of $36 million to $36.5 million. Analysts were expecting earnings of 18 cents per share on revenue of $38.2 million.
Revenue for the fourth quarter grew 14% to $37 million, in line with expectations. But the company predicted a revenue range of $154 million and $157 million for fiscal year 2013, below the $164 million expected by analysts, with an EPS range of 43-49 cents compared to the Street forecast of 81 cents.
For the period, IPG posted revenue of $145 million, up 17% from a year ago, but a bit below the Street consensus at $146,4 million. Profits were 67 cents a share, up 5% from a year ago, but below the Street at 72 cents. Operating margin fell to 32.6%, from 37.3%.
“IPG ended a solid year of financial and operational performance with strong results for the fourth quarter,” CEO Valentin Gapontsev said in a statement. ”Revenues for the quarter increased 17% over the prior year and net income increased by 12%, driven by high-power laser sales for materials processing applications. Looking at the full year, our 19% revenue growth and 23% net income growth demonstrates the wide and growing acceptance of IPG’s technology across a variety of applications. Materials Processing sales, which make up the majority of our business, grew 14% for the fourth quarter. High-power laser sales increased 10% from the prior year, driven by cutting and welding applications, primarily used by automotive, heavy industry and general manufacturing. On a geographic basis, we performed well across most regions, particularly in North America and Asia.”
Another big downward mover is Amicus Therapeutics (FOLD), which is lost over 24% in value today. The company just announced further results from an open-label Phase 2 drug-drug interaction study (Study 013) to evaluate a single oral dose of migalastat HCl (150 mg or 450 mg) co-administered prior to enzyme replacement therapy (ERT) in males with Fabry disease. Preliminary resultswere announced during 2012. Results for the migalastat HCl 450 mg dose group are being presented for the first time in a poster1 at the Lysosomal Disease Network WORLD Symposium (LDN WORLD).
Dr. David G. Warnock, University of Alabama-Birmingham, stated, “When co-administered with ERT, both doses of migalastat HCl appeared to increase enzyme activity compared to Fabrazyme and Replagal alone in this study. We believe that these results support further clinical studies in Fabry patients to investigate the use of a pharmacological chaperone to maintain infused alpha Gal-A enzymes in optimally active form through this chaperone-ERT combination approach.”
Disclaimer: We have no position in any stock mentioned here.