Qlik Technologies Shares Surge on Q4 Results (QLIK)
2/15/2013 2:36:26 PM
Shares of Qlik Technologies Inc. (NASDAQ: QLIK) are seeing a huge rally in trading today after the company reported better than expected fourth-quarter results.
- Qlik Technologies’ revenue rose 27% in the fourth quarter
- License revenue for the quarter up 24%
- Bill Sorenson to resign as CFO
Lars Bjork, CEO of Qlik Technologies, said that he is pleased with the company’s strong fourth-quarter results with revenue increasing 27% year-over-year driven by enterprise sales. Bjork said that as the company looks ahead to 2013, it continues to see strong demand for its products and is focused on broadening its service offerings, further improving its customer ROI and driving significant levels of growth, while also targeting modest improvements in its profit margins.
For the fourth quarter ended December 31, 2012, Qlik reported total revenue of $137.5 million, representing an increase of 27% over the same period in the previous year. The company’s license revenue for the quarter was $93.5 million, representing an increase of 24% over the same period in the previous year.
Qlik reported fourth-quarter GAAP income from operations of $26.5 million, compared to $26.2 million reported for the same period in the previous year. On a non-GAAP basis, the company’s income from continuing operations was $32.3 million, compared to $30.6 million reported for the same period in the previous year.
GAAP net income for the quarter came in at $13.3 million, or $0.15 per share, down from $15.6 million, or $0.18 per share reported for the same period in the previous year. On a non-GAAP basis, net income for the quarter was $22 million, or $0.25 per share, compared to $20.4 million, or $0.23 per share reported for the same period in the previous year.
QLIK shares rose to an intra-day high of $27.55 earlier today. At last check, the stock was trading 18.45% higher at $26.96 on above average volume of 6.45 million.
About Qlik Technologies Inc.
Qlik Technologies Inc. is a provider of business intelligence solution.