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QLIK TECHNOLOGIES NARROWS LOSS

qlikview logoQlik Technologies, which markets the QlikView business intelligence line, reported a loss of $2 million for the second quarter ended June 30, down from $2.7 million in last year's corresponding quarter. Second quarter revenue was $85.5 million, up 16 percent over last year and up 24 percent in constant currencies.

License revenue was $50 million, up 10 percent or 18 percent in constant currencies while maintenance revenue of $28.6 million was up 31 percent or 41 percent in constant currencies. Qlik has only 41 resellers in the United States, but there are some very well-known names among them. These are CPA firms McGladrey, Wipfli, Armanino McKenna and J.H. Cohn, and CRM specialist Infinity Info Systems. The company is based in Radnor, Pa. In 2011, 69 percent of its revenues were denominated in foreign currencies, primarily the Swedish kroner and British pound, which is the reason for its reporting results in constant currencies. But it expects that its largest growth will be in the United States. For the quarter, revenue in the Americas was $28.9 million, up 27 over a year earlier and represented 34 percent of company revenue. The reason for the concentration in kroner was that the company was founded in 1993 in Sweden

 

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