Qlik Technologies, a provider of Business Intelligence, has reported total net revenue of $81.4m for the fourth quarter of 2010, an increase of 32% compared to $61.8m for the same period last year.
Revenues from lincense, maintenance and professional services grew to $56.3m, $18.3m and $6.8m, respectively, from $43.7m, $12.8m, and $5.4m for the same quarter previous year.
The company posted an operating income of $16.6m for the fourth quarter of 2010, compared to $20.5m for the same period last year.
For the fourth quarter ended December 31 2010, the company posted net income of $10.6m, a decrease of 31% compared to a net income of $15.3m for the same quarter a year ago.
Net income per diluted share was down by 12% to $0.12 from $0.16 per share for year ago quarter.
For fiscal year 2010, the company’s revenue, operating income and net income increased to $227m, $27.6m and $13.5m, respectively.
QlikTech CEO Lars Bjork said the fourth quarter was highlighted by revenue that significantly exceeded their expectations, increasing 32% year-over-year.
"We have been pioneering an evolution in business intelligence, Business Discovery, our unique data discovery and user-driven BI, which is expanding the market by addressing the ease-of-use and quick time to value needs of business users," Bjork said.
The company expects total revenue for the first quarter of 2011 to be in the range of $52m to $55m.
