Qlik Tech says order delays to hurt quarter; shares sink

Reuters News
Posted: Oct 24, 2013 4:28 PM

By Sruthi Ramakrishnan

(Reuters) - Data analytics software maker Qlik Technologies Inc forecast current-quarter results below expectations as budget constraints delayed deals in Europe and the Asia Pacific region.

Qlik's shares fell 20 percent in extended trading after it also reported lower-than-expected third-quarter revenue.

The company's forecast was in contrast with that of data integration software maker Informatica Corp. Both companies compete with IBM Corp, Microsoft Corp, Oracle Corp and SAP AG.

"Near the very end of this quarter, decisions slowed down (in Europe) and deals we expected to close in several large customers was delayed to future period," Qlik Chief Executive Lars Björk said on a conference call with analysts.

He said some large deals in Asia Pacific were also pushed out.

Qlik forecast adjusted earnings of 28-31 cents per share for the fourth quarter, on revenue of $156 million to $161 million. Analysts on average had expected earnings of 45 cents per share on revenue of $165.8 million, according to Thomson Reuters I/B/E/S.

The company was winning more large deals, CEO Björk said, though he added that such deals were adding complexity to the company's sales process.

Qlik will "bring more discipline" to the management of its growing deal pipeline, with the changes reflected in its forecast for the current quarter, he said in a statement.

The company's third-quarter net profit rose to $3 million from $151,000 from a year earlier.

Excluding items, Qlik earned 5 cents per share. Revenue rose 21 percent to $104.1 million.

Analysts on average had expected earnings of 3 cents per share on revenue of $107.7 million.

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Qlik's shares were at $27.00 in extended trading after closing at $33.48 on the Nasdaq on Thursday.


Informatica reported better-than-expected quarterly results, helped by a 16 percent rise in service revenue.

The company's shares were up 6 percent at $40.56 in extended trading after it forecast current-quarter revenue of $260-$275 million, largely above analysts' estimates of $261.2 million.

Informatica CEO Sohaib Abbasi said he expects higher revenue growth for the company in Europe and Latin America in the current quarter.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Ted Kerr)