* Third-quarter revenue forecast largely above analysts'
* CEO sees strong demand for flagship QlikView software
* New desktop product launched
* Shares rise more than 8 pct after the bell
(Adds CEO, analyst comment, product details, adds shares)
By Lehar Maan and Abhirup Roy
July 24 Qlik Technologies Inc forecast
current-quarter revenue largely above Wall Street expectations,
citing strong demand for its business analytics software.
Qlik's shares rose more than 8 percent after markets closed.
The company's flagship product, QlikView, helps companies to
organize vast amounts of data in the form of reports, charts and
infographics. Customers include American Apparel Inc,
Coca-Cola Co and healthcare company Omnicare Inc.
Chief Executive Lars Björk said "continued strong demand for
QlikView", combined with Thursday's launch of the company's Qlik
Sense software, would drive sales in a growing market for
self-service visualization and data discovery.
Qlik forecast revenue of $122 million to $126 million for
the third quarter. The midpoint of this range is above the
average analyst expectation of $123.3 million, according to
Thomson Reuters I/B/E/S.
The company made the forecast as it announced
better-than-expected revenue and a surprise profit for the
second quarter ended June 30, helped by demand for its data
analytic tools and more license and maintenance deals.
The company on Thursday launched Qlik Sense Desktop, the
first application released under its QlikView.Next project. The
server edition will be available in September.
Qlik Sense is a Windows application that allows users to
drag and drop information from multiple sources and create
personalized, interactive data visualizations and reports.
RBC Capital Markets analyst Matthew Hedberg said the
second-quarter results were better than the market had been
"It ... takes the pressure off the back half of the year for
the .Next launch," he said.
Qlik said it expected third-quarter earnings to fall within
a range of a 2-cent-per-share loss to a profit of 1 cent per
Net loss for the second quarter widened to $10.2 million, or
11 cents per share, from $8.0 million, or 9 cents per share, a
Excluding items, however, Qlik earned a profit of 2 cents
per share. Revenue rose to $131.6 million from $108.0 million.
Analysts had expected a loss of 3 cents per share on revenue
of $125.3 million.
Qlik's shares closed at $23.39 on the Nasdaq.
(Editing by Robin Paxton)