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Qlik Technologies Q3 Results Beat Estimates(dpa-AFX International Compact Via Acquire Media NewsEdge) WASHINGTON (dpa-AFX) - Business software analytics provider Qlik Technologies, Inc. (QLIK) Thursday reported a loss for the third quarter, as strong revenue growth was more than offset by higher expenses and a foreign exchange loss. However, adjusted results for the quarter beat analysts' estimates. Looking ahead, Qlik Technologies forecast earnings for the fourth quarter below Street expectations and also lowered its fiscal 2014 earnings outlook. However, the company's revenue guidance for both the periods are above analysts' estimates. The company's shares gained more than 9 percent in extended trades. The Radnor, Pennsylvania-based company's net loss for the third quarter was $14.37 million or $0.16 per share, compared to net income of $3.00 million or $0.03 per share in the year-ago period. The company noted that foreign currency exchange rate fluctuations from the prior year period negatively impacted total revenue by about 1 percent. Adjusted net earnings for the quarter were $0.01 per share, compared to $0.05 per share in the same period last year. On average, twenty one analysts polled by Thomson Reuters expected the company to report break even per share for the quarter. Analysts' estimates typically exclude special items. Total revenues for the quarter grew 26 percent to $131.3 million from $104.1 million in the same period last year. Analysts had a consensus revenue estimate of $124.1 million. License revenue for the quarter rose 24 percent to $67.48 million, wile maintenance revenue increased 27 percent to $51.76 million and professional services revenue grew 36 percent to $12.05 million. During the quarter, the company's total revenue in the Americas increased 27 percent over the prior-year period, while total revenue from Europe increased 21 percent and total revenue from Rest of World surged 50 percent. The company's total operating expenses for the quarter were $121.90 million, up 32 percent from last year. In addition, the company recorded a foreign exchange loss of $1.72 million in the quarter. Looking ahead to the fourth quarter, Qlik Technologies forecasts adjusted earnings of $0.26 to $0.30 per share on revenues of $176.0 million to $181.0 million. Analysts expect the company to report earnings of $0.34 per share for the quarter on revenues of $183.88 million. For fiscal 2014, Qlik Technologies now forecasts adjusted earnings of $0.18 to $0.22 per share on revenues of $550 million to $555 million. Earlier, the company projected earnings of $0.23 to $0.27 per share for the year on revenues in a range of $545 million to $555 million. Analysts currently expect the company to earn $0.25 per share for the year on revenues of $550.5 million. QLIK closed Thursday's regular trading at $24.62, up $0.76 or 3.19 percent on a volume of 3.38 million shares. In after-hours, the stock further gained $2.38 or 9.67 percent to $27.00. Copyright RTT News/dpa-AFX |