NEW YORK (TheStreet) -- Even though Qlik Technologies (QLIK) reported that it grew revenue by 26% over the past year, the company's shares were pushed lower Friday.TheStreet's Gregg Greenberg is with Lars Bjork, the CEO, discussing what lies in the company's future.
Qlik posted solid top-line growth, but missed on the bottom line, posting a 2 cents per share loss, vs. the 1 cent per share loss that was expected.
However, the CEO didn't seem too worried. Instead he pointed to the solid growth that the company has demonstrated and said that this is typically the time of year they make investments.
But Wall Street wasn't as disappointed with the results as much as they were with the low full-year guidance. Bjork countered that the low guidance still shows relatively strong growth, close to 25%, and that there are plenty of great opportunities still ahead.
He added that global demand has been strong and with new product introductions coming in the fourth quarter, it should remain that way.
Citing an easy user interface and quick adaptivity, he says the new products will be better than ones from competitors like
, which in his words have "old technology."
Bjork concluded that customers are looking for something new and fresh but admitted customer migration would not be a fast process. Due to Qlik's innovation, it might become a takeover target for the two formerly mentioned "old technology" companies.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.