Qlik Tech results beat estimates, says CFO to resign

Thu Feb 14, 2013 5:15pm EST

(Reuters) - Business software maker Qlik Technologies Inc's (QLIK.O) quarterly results beat analysts' estimates on higher license sales across its markets, particularly the Americas, sending its shares up 16 percent after the bell.

Revenue during the traditionally strong fourth quarter rose about 27 percent to $137.5 million. Revenue from licenses rose about 24 percent to $93.

Revenue from the Americas jumped 42 percent, while that from Europe rose 20 percent.

The company's net income fell to $13.3 million, or 15 cents per share, from $15.6 million, or 18 cents per share, a year earlier.

Excluding items, the company earned 25 cents per share.

Analysts had expected adjusted earnings of 23 cents per share on revenue of $126.9 million, according to Thomson Reuters I/B/E/S.

Qlik also added customers including Nasdaq OMX Group (NDAQ.O), London City Airport and Toyota Motor Corp (7203.T) Australia during the quarter.

The company said Chief Financial Officer Bill Sorenson would resign for personal reasons, but would continue until a successor is named.

Qlik forecast first-quarter adjusted loss of between 12 cents and 15 cents on revenue of $87 million to $91 million.

Analysts on average were expecting adjusted loss of 1 cent per share on revenue of $94.2 million.

Qlik's peer Informatica forecast first-quarter revenue largely above analysts' estimates in January. Both companies have a significant market share in Europe.

Qlik shares were up 14 percent at $26 in extended trading, after closing at $22.76 on the Nasdaq on Thursday. They have gained about 28 percent in the last three months.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Don Sebastian and Sriraj Kalluvila)

FILED UNDER: