This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

QlikTech Announces Third Quarter 2012 Financial Results

Non-GAAP income from operations, which excludes stock-based compensation, employer payroll taxes on stock transactions, and amortization of intangible assets, was $4.3 million for the third quarter of 2012, compared to non-GAAP income from operations of $5.2 million for the third quarter of 2011. Non-GAAP net income, which also assumes a 32% estimated long-term effective tax rate, was $1.8 million for the third quarter of 2012, compared to non-GAAP net income of $4.1 million for the third quarter of 2011. Non-GAAP net income per diluted common share for the third quarter of 2012 was $0.02, compared to non-GAAP net income per diluted common share of $0.05 for the third quarter of 2011.

GAAP and non-GAAP net income for the third quarter of 2012 include a $1.7 million foreign exchange loss, compared to a foreign exchange gain of $0.8 million in the prior year period.

The tables at the end of this press release include a reconciliation of GAAP to non-GAAP income (loss) from operations and net income (loss) for the three and nine months ended September 30, 2012 and 2011. An explanation of these and other measures, including constant currency comparisons, is also included below under the heading "Non-GAAP Financial Measures."

Cash and cash equivalents were $193.1 million on September 30, 2012, compared to $177.4 million on December 31, 2011. For the nine months ended September 30, 2012, net cash provided by operating activities was $25.4 million, compared to $11.0 million for the nine months ended September 30, 2011.

Other Third Quarter and Recent Business Highlights:

  • Revenue in the Americas was $30.5 million, up 14% over the prior year period and representing 35% of total revenue for the quarter. European countries generated $46.1 million in revenue, up 10% over the prior year period and representing 54% of total revenue for the quarter. Rest of World revenue was $9.5 million, up 43% over the prior year period and representing 11% of total revenue for the quarter.
  • On a constant currency basis, revenue in the Americas increased 16% over the prior year period, European revenue increased 19% over the prior year period, and revenue from Rest of World increased 48% over the prior year period.
  • Ended the third quarter of 2012 with an active customer count of over 26,000.
  • Added new customers during the third quarter of 2012 including Colgate Palmolive Russia, Japan Steel Works, National Institutes of Health, Textron Systems Corporation, and Toshiba America.
  • Expanded numerous customer engagements globally through our land and expand strategy including Danone South-West Europe, Honda Europe NV, Monsanto Company, National Australian Bank, Oxford Brookes University, Pernod Ricard Belgium, RWE IT GmbH, Travelers Insurance, Turk Ekonomi Bankasi (TEB), and T-Mobile Netherlands BV.
  • Announced the launch planned for later this year of QlikView Direct Discovery for direct access to big data sources within QlikView apps. Direct Discovery can link data loaded in memory with big data sources for rapid visual analysis. With this hybrid model, there is no need to choose between direct access to big data or pre-loading data in-memory -- you can have both.
  • Announced a partnership with Teradata to provide a seamless user experience to joint customers, regardless of where the data resides, whether in-memory or in the enterprise data warehouse.
  • Announced the availability of the QlikView Governance Dashboard, a free product available on QlikMarket that provides customers with visibility into their QlikView deployments, enabling them to maximize data governance practices and optimize their QlikView investment.
  • Results of comprehensive survey of companies using business intelligence products conducted by BARC showed that QLIK is considered a leading Visual Analysis and Data Discovery vendor and a leading BI giant. QlikView ranked first among the BI Giants peer group in visual analysis, innovation, agility and shortest project length. In the Visual Analysis and Data Discovery peer group, QlikView ranked first in lowest cost per seat, lowest numbers of administrators per seat, lowest cost, and mobile BI.

Business Outlook

Based on information available as of October 25, 2012, QlikTech is issuing guidance for the fourth quarter and full year 2012 as follows:

2 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs