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QLIKTECH RAMPS UP FOR LAUNCH Featured

Lars Bjork, QlikTechBusiness analytics vendor QlikTech registered a sharp increase in its loss for the second half ended June 30 as the company ramped up for a new product launch. The loss rose to $8.1 million for the most recently ended quarter, compared to just over $2 million a year earlier. That came as spending for hiring and R&D boosted operating expenses by 30.1 percent.

QlikTech is preparing a controlled released of QlikView Next in the fourth quarter and the new name reflects a significant change, CEO Lars Bjork said in a recent earnings webcast. "We want to make a big shift into the next version of the product. We don't want it to be perceived as version 11.1," he said. QlikView includes new visualization technology and a user interface he called "gorgeous and ingenious." On the top line, quarterly revenue was $108 million, up 26 percent from $85.1 million a year ago. License revenue of $60.5 million was 21-percent higher than in last year's corresponding period and America's revenue, not disclosed, rose by 31 percent. The channel produces 53 percent of license revenue and first-year maintenance, similar to a year ago. Meanwhile, average deal size rose, especially for those greater than $250,000. In the quarter, the company had 104 deals of more than $100,000, compared to 86 a year ago, and 27 of more than $250,000, up from 19.

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