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QLIK TECHNOLOGIES DROPS TO LOSS

qlikview logoQLIK Technologies, which markets QlikView, lost $2.2 million for the second quarter ended June 30, a sharp swing from net income of $3.5 million in last year’s corresponding period. Revenue for the most recently period was $74 million, an increase of 45 percent from $51.1 million a year earlier.

The sharpest uptick came in maintenance revenue, which rose to $21.8 million, up 61 percent from $13.5 million. License revenue of $45.3 million was 39-percent higher than $32.5 million in the same period last year while professional services revenue rose 37 percent to $6.9 million, up from $5.1 million. The bottom line was hit by a $2.2 million lease termination charge to operating income that was taken for the abandonment of a facility in Sweden. However, the loss was principally related to a 74.6-percent increase in operating expenses. The bulk of that was $45.4 million in sales and marketing expenses, up 63.6 percent from $27.8 million. R&D spending more than doubled to $6.5 from just under $3 million and the same was true for G&A expenses of $17.1 million, which were up from $8.8 million. The company's resellers are primarily not mid-market ERP VARs/implementers, but there are some with accounting firms the most recognizable names. These include Armanino McKenna, Templeton & Co. Wipfli, J.H. Cohn, and McGladrey. Also in the lineup is Sage reseller, AccuPointe, and CRM specialist, Infinity Info Systems.

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