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.


Today in Philly Tech History 2/13/1988: Innovative Solutions & Support, Inc. celebrates twenty-fifth anniversary of its founding

February 13, 2013: Cockpit instrumentation systems integrator Innovative Solutions & Support, Inc. (IS&S) (NASDAQ:ISSC) celebrated the twenty-fifth anniversary of its founding in 1988.

The Exton-based company says it "has evolved from engineering and manufacturing CTR stand alone air data instruments to a systems integrator that produces large flat panel cockpit displays with Management System (FMS), GPS, Synthetic Vision (SVS), and Required Navigation Procedure (RNP) capabilities." Geoffrey Hedrick, founder, chairman and CEO of the Company, said in a statement that "“I am more optimistic than I have been in several years about the prospects for the Company as improving market conditions coincide with a number of new products designed for NextGen markets.”

In its last 12 months ending September 30 2012,, IS&S generated revenue of $24.6 million
and net income of $2.98 million. Its stock, currently at $4.37 per share, traded as high as $28 in 2007.