(MENAFN- ProactiveInvestors)The share price of cloud-based connectivity specialist LogMeIn Inc (NASDAQ:LOGM) headed skywards after its first quarter results. Revenue rose 30% to $79.7mln from $61.1mln the year before while net income turned positive at $372000 compared to a loss of $1.1mln the year before. The company said it expected second quarter revenue would be somewhere in the range of $81.5mln to $82mln while adjusted underlying earnings (EBITDA) which totalled $16.6mln in the first quarter would clock in at around $19.9mln - $20.2mln. 'We had a great first quarter and very strong start to the year with revenue adjusted EBITDA margins and earnings per share all well above the high end of our guidance' said Bill Wagner president and chief executive officer of LogMeIn. 'Our Collaboration Identity and Access Management and Service Clouds all saw double digit year-over-year revenue growth and our key strategic products significantly outperformed the business overall' he added. Shares were up 14.5% at $60.40 in the morning session.
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