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CURRENCY CHANGE COSTS QLIK
Foreign exchange losses took a bite out of the bottom line for Qlik Technologies for the third quarter ended September 30, countering a decent performance on the top line. Net income for the business intelligence software vendor, which markets the QlikView line, for the quarter was $200,000, down sharply from $1.2 million a year earlier.
That was largely due to a $1.7 million foreign exchange loss, compared to an $800,000 currency gain in last year’s corresponding period. Revenue for the most recently ended quarter was $86.1 million, up 14 percent from a year ago and up 20 percent in constant currencies. The top line benefitted from a strong contribution from maintenance revenue, which came in at $30.6 million, an increase of 33 percent over last year and up 41 percent in constant currencies. By comparison, license revenue of $48.8 million was up 7 percent year-over-year and 13 percent in constant currencies.
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