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Qlik Technologies Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: QLIK

For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's EDGAR system and our website. We encourage all investors to read our SEC filings.

Qlik Technologies expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements made herein, except as required by law.

Additionally, non-GAAP financial measures will be discussed on this conference call. A reconciliation to the most directly comparable GAAP financial measures can be found in our press release, which is available at our website, www.qliktech.com, under the Investor Relations tab. Also, please note that our webcast of today's call will be available on our website in the Investor Relations section.

With that, I'd like to turn the call over to our Chief Executive Officer, Lars Björk. Lars?

Lars Björk

Thanks, Staci. And I'd like to start by thanking all of you for joining us today. For the second quarter 2012, we reported total revenue of $85.8 million, representing an increase of 16% over the prior year period. On a constant currency basis, total revenue grew 24% over the prior year period. Even with a challenging macroeconomic environment, we were still able to show a substantial year-over-year growth. This further reinforces that QlikView delivers rapid value, and this is even more important in today's tough business condition. Businesses of all sizes are dealing with a deluge data and need QlikView to transform this data into knowledge by making it understandable and actionable.

Our non-GAAP operating income for the quarter was $2.4 million, and non-GAAP net income was $0.02 per diluted common share.

As we discussed with you on our preannouncement call a few weeks ago, the macroeconomic environment posed some challenges for QlikTech, particularly in Europe. We saw prolonged sales cycles causing delays, some strengthening of deal sizes to help get through procurement and customers need for additional signatures for further ROI justification.

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