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QLIK TECH NET DROPS 57 PERCENT

William Sorenson, Qlik TechnologiesNet income for Qlik Technologies, which markets the QlikView business intelligence application, fell to $3.8 million for the year ended December 31, down 57 percent from $9 million a year earlier. That came on 2012 revenue of $388.5 million, which was up 21 percent from 2011 and 26 percent on a constant currency basis. License revenue of $238.7 million was up 17 percent over the prior year; 21 percent at constant currencies
. Foreign exchange losses and increased interest expense helped take a bit out of the bottom line. Profits were also dented by a 24-percent rise in operating expenses with double digit spending increases in sales and marketing, R&D and general and administrative costs. Qlik ended the year on a stronger note with net income of $13.3 million, down only 15 percent from a year earlier. Fourth-quarter revenue was $137.5 million, up 11.7 percent from $108.1 million in last year’s corresponding period. The company also said its CFO Bill Sorenson is resigning for personal reasons. He will continue in the job until a successor is named.

 

 

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