QlikTech posts strong Q4 2012 results; CFO to resign for "personal reasons" Update: shares up 20% today
Tom Paine
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Radnor-based Business Intelligence vendor QlikTech today released 4th quarter and full year 2012 financial results.
Total revenue increased 27% in the 4th quarter to $137.5 million, and 41% in the Americas. For the full year 2012, revenue was $388.5 million, an increase of 21% from the full year 2011 and 26% on a constant currency basis. GAAP net income for the year was 3.8 million, or $0.04 per diluted common share, down from $9 million last year.
For 2013, QlikTech is providing guidance for revenue for the full year of $465 to $475 million, and non-GAAP income from operations of $50 to $54 million. The midpoint of QlikTech's 2013 revenue projections imply a growth rate of 21%.
QlikTech also announced today Bill Sorenson’s intention to resign as Chief Financial Officer "for personal reasons." He has agreed to stay on in that position until a
successor is found.
Update 2/15/2013: QLIK shares are up 20% today after yesterday's results surpassed
company guidance.
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