QlikTech Down 9% After Company Missed Earnings Estimates

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Shares of QlikTech
QLIK
are down more than 9% after the company missed earnings estimates. Total revenue for the fourth quarter of 2011 was $108.1 million, an increase of 33% from $81.4 million in the fourth quarter of 2010. Foreign currency exchange rate fluctuations from the prior period had an impact of less than 1% on reported revenue for the quarter. License revenue was $75.7 million, an increase of 34% from $56.3 million in the fourth quarter of 2010. Maintenance revenue was $25.0 million, an increase of 37% from $18.3 million in the fourth quarter of 2010. Professional services revenue was $7.4 million, an increase of 10% from $6.8 million in the fourth quarter of 2010. GAAP operating income for the fourth quarter of 2011 was $26.2 million, an increase compared to GAAP operating income of $16.6 million for the fourth quarter of 2010. GAAP net income was $15.6 million, or $0.18 per diluted common share, an increase compared to a GAAP net income of $10.6 million or $0.12 per diluted common share, in the fourth quarter of 2010. GAAP net income for the fourth quarter of 2011 reflects a $2.3 million non-cash income tax charge related to the need for a valuation allowance against certain deferred tax assets.
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Posted In: EarningsNewsIntraday UpdateMovers
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