This Day On The Street
Continue to site
ADVERTISEMENT
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

QlikTech Delivers Solid Third Quarter Revenue Growth

Qlik Technologies Inc. (“QlikTech”) (Nasdaq: QLIK), a leader in Business Discovery — user-driven Business Intelligence (BI), today announced financial results for the third quarter ended September 30, 2013.

Lars Björk, Chief Executive Officer of QlikTech, stated, “We are pleased with our solid growth in the Americas, despite some weaker than expected performance in Europe and Asia Pacific. We continued to advance further into the enterprise space as reflected by the increase in large deals that we closed, and our view of the long-term market opportunity is unchanged. However, our continued success in attracting enterprise-level sales opportunities is adding complexity to our overall sales process, which needs to be better aligned with the market dynamics we are experiencing.”

Björk continued, “We are taking action to bring more discipline to the management of our growing pipeline, and we expect these changes to take some time to fully impact our results, which is reflected in our fourth quarter guidance.”

Financial Highlights for the Third Quarter Ended September 30, 2013

  • Total revenue for the third quarter of 2013 was $104.1 million, an increase of 21% from $86.1 million for the third quarter of 2012. License revenue for the third quarter of 2013 was $54.5 million, an increase of 12% from $48.8 million for the third quarter of 2012. Foreign currency exchange rate fluctuations from the prior year period impacted total revenue by less than 1%.
  • GAAP loss from operations for the third quarter of 2013 was ($3.4) million, compared to a GAAP loss from operations of ($1.8) million for the third quarter of 2012. GAAP net income was $3.0 million for the third quarter of 2013, or $0.03 per basic and diluted common share, compared to GAAP net income of $0.2 million, or $0.00 per basic and diluted common share, for the third quarter of 2012.
  • Non-GAAP income from operations was $6.8 million for the third quarter of 2013, compared to non-GAAP income from operations of $4.3 million for the third quarter of 2012. Non-GAAP net income was $4.8 million for the third quarter of 2013, or $0.05 per basic and diluted common share, compared to non-GAAP net income of $1.8 million, or $0.02 per basic and diluted common share, for the third quarter of 2012.
  • Cash and cash equivalents as of September 30, 2013 were $235.2 million. For the nine months ended September 30, 2013, net cash provided by operating activities was $24.6 million, as compared to $25.4 million for the nine months ended September 30, 2012.

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, 2013 and 2012. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,098.59 +86.65 0.48%
S&P 500 2,114.12 +4.52 0.21%
NASDAQ 5,092.5770 +16.0530 0.32%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs