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QlikTech Announces Third Quarter 2012 Financial Results

Stocks in this article: QLIK

Fourth Quarter 2012: QlikTech expects total revenue for the fourth quarter to be in the range of $125.0 million to $130.0 million, non-GAAP income from operations to be in the range of $28.0 million to $31.0 million and non-GAAP net income per diluted common share to be in the range of $0.22 to $0.24. QlikTech’s expectations of non-GAAP income from operations and non-GAAP net income per diluted common share for the fourth quarter exclude stock-based compensation expense, employer payroll taxes on stock transactions, and amortization of intangible assets and assume an estimated long-term effective tax rate of 32% and weighted average shares outstanding of approximately 88 million.

Full Year 2012: QlikTech expects 2012 total revenue to be in the range of $376.0 million to $381.0 million, non-GAAP income from operations to be in the range of $32.0 million to $35.0 million and non-GAAP net income per diluted common share to be in the range of $0.23 to $0.25. QlikTech’s expectations of non-GAAP income from operations and non-GAAP net income per diluted common share for the full year exclude stock-based compensation expense, employer payroll taxes on stock transactions, and amortization of intangible assets and assume an estimated long-term effective tax rate of 32% and weighted average shares outstanding of approximately 88 million.

QlikTech’s expectations of total revenue, non-GAAP income from operations and non-GAAP income per diluted common share for the fourth quarter and full year 2012 assume that foreign currency exchange rates for the fourth quarter will approximate current exchange rates.

Conference Call and Webcast Information

QlikTech will host a conference call on October 25, 2012, at 5:00 p.m. Eastern Time (ET) to discuss the company’s third quarter 2012 financial results and its business outlook. To access this call, dial (877) 312-5507 (domestic) or (253) 237-1134 (international). A replay of this conference call will be available until November 1, 2012 at (855) 859-2056 (domestic) or (404) 537-3406 (international). The replay pass code is 38704815. A live web cast of this conference call will also be available under the “Events & Presentations” section on the company’s investor relations website at http://investor.qlikview.com, and a replay will be archived on the website as well.

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, QlikTech uses measures of non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) per basic and diluted common share and constant currency. A reconciliation of these non-GAAP financial measures to the closest GAAP financial measure is presented in the financial tables below under the headings “Reconciliation of Non-GAAP Measures to GAAP” and “Reconciliation of Non-GAAP Revenue to GAAP Revenue.” QlikTech believes that the non-GAAP financial information provided in this release can assist investors in understanding and assessing QlikTech’s on-going core operations and prospects for the future and provides an additional tool for investors to use in comparing QlikTech’s financial results with other companies in QlikTech’s industry, many of which present similar non-GAAP financial measures to investors. In addition, QlikTech believes that these non-GAAP financial measures are useful to investors because they allow for greater transparency into the indicators used by management as a basis for its internal budgeting and operational decision making.

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