Qlik Technologies (NASDAQ:
) has surged on Friday on word of a successful fourth quarter and
Fourth quarter revenue was up 27 percent year-over-year,
finishing at $137.5 million. Full year revenue closed at $388.5
million, climbing 21 percent from 2011.
Meanwhile, fourth quarter EPS closed at $0.25, topping the
$0.23 reported during the same period in 2011. This topped
analysts' hopes of $0.23 for the quarter, as well.
For the year, EPS was $0.26, coming in slightly below the 2011
figure of $0.27.
Qlik-ly Growing Worldwide
Fourth quarter revenue in the Americas climbed 42 percent
year-over-year. Revenue in Europe grew a healthy 20 percent, as
In the rest of the world, revenue grew 34 percent during the
Quick Exit for Qlik CFO
On Thursday, Qlik announced that CFO Bill Sorenson intends to
resign for personal reasons. According to the firm, a search for
a new CFO has been initiated and is expected to be completed
expeditiously. Sorenson plans to remain as CFO until a successor
The Radnor, Pennsylvania software firm has issued its first
quarter guidance, which paints a dismal picture compared to Wall
Analysts are looking for revenue of $94.23 million during the
first quarter. However, Qlik expects to close at $87 to $91
EPS is expected to fall short during the quarter, as well.
While Wall Street wants to see a loss of $0.01 per share, Qlik
expects to lose $0.12 to $0.15 per share.
The company attributes its lackluster first quarter guidance
to seasonal revenue patterns, costs related to its annual
employee summit in January, hiring expenses and increases in
benefit and payroll tax expenses.
Yet, full-year guidance is above expectations. Analyst are
looking for $452.7 million. However, the company expects to
finish in the $465 to $475 million range.
Similarly, while Wall Street expects an EPS of $0.38, Qlik
plans to top estimates at $0.39 to $0.42 per share.
The strong fourth quarter and full-year results have
outweighed the weak first quarter guidance thus far in the
For the past two months, Qlik's stock hovered in the low $20s.
However, the positive earnings report has boosted it into the
high $20s, sitting a little over $27 as of this writing. The
stock is at its highest point in the past nine months.
Qlik is up around 19 percent on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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