Qlik results beat on higher software licence sales

Fri Feb 15, 2013 12:16am GMT

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(Reuters) - Business software maker Qlik Technologies Inc's (QLIK.O) quarterly results beat analysts' estimates on higher license sales mainly in the Americas, sending its shares up as much as 18 percent in extended trading.

Revenue in the traditionally strong fourth quarter rose about 27 percent to $137.5 million. Revenue from licenses rose about 24 percent to $93.

Revenue from the Americas jumped 42 percent, while that from Europe rose 20 percent.

New orders from existing customers in Europe, a market that contributes about 60 percent of Qlik's revenue, have started to pick up after the economic slowdown. Car maker Volkswagen AG (VOWG_p.DE) is among customers to have signed new deals.

Qlik also won a big deal from a European retailer in the fourth quarter, Chief Executive Lars Björk said on a conference call with analysts. He did not identify the retailer.

The company, which also counts Autodesk Inc (ADSK.O), Kraft Foods Group (KRFT.O), L'Oreal (OREP.PA) and Qualcomm (QCOM.O) among its customers, said there had been an increase in the overall number and average size of deals across its markets.

Qlik completed 177 deals in the quarter, compared with 159 deals in the same year-earlier period.

"They (deals) will continue to expand and grow and be one of the main drivers of the story," Robert W. Baird & Co analyst Steven Ashley told Reuters.

FOURTH-QUARTER BEATS

Qlik's fourth-quarter net income fell to $13.3 million, or 15 cents per share, from $15.6 million, or 18 cents per share, a year earlier.

Excluding items, the company earned 25 cents per share.

Analysts had expected adjusted earnings of 23 cents per share on revenue of $126.9 million, according to Thomson Reuters I/B/E/S.

Qlik also added customers, including Nasdaq OMX Group (NDAQ.O), London City Airport and Toyota Motor Corp (7203.T) Australia, during the quarter.

The company said Chief Financial Officer Bill Sorenson would resign for personal reasons, but would continue until a successor is named.

Qlik forecast a first-quarter adjusted loss of between 12 cents and 15 cents on revenue of $87 million to $91 million.

Analysts on average were expecting an adjusted loss of 1 cent per share on revenue of $94.2 million.

Qlik's peer Informatica Corp (INFA.O) forecast first-quarter revenue largely above analysts' estimates in January.

Qlik shares were up 14 percent at $26.07 in extended trading, after closing at $22.76 on the Nasdaq on Thursday. They have gained about 28 percent in the last three months.

(Editing by Don Sebastian and Sriraj Kalluvila)

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