Home » Technology » Qlik Technologies Inc (NASDAQ:QLIK) Shares Jump 12% On Upbeat 4Q Earnings

Shares of Qlik Technologies Inc(NASDAQ:QLIK) extended its gains in after-hours session after the company posted a better than estimated fourth quarter earnings and revenue.

The company posted adjusted net income of $32.3 million or 25 cents a share, topped analysts’ target by 2 cents. Revenue during the quarter came in at $137.50 million, up 27% year over year from $108.1 million, ahead of analysts’ target by $10.74 million.

License revenue was $93.5 million, an increase of 24% from $75.7 million in the fourth quarter of 2011.

Shares of company are up over 12% in late trading sessions. On Thursday, the stock ended higher by 3.50% at $22.76.

For the current quarter, the company projects to book a loss of 15-12 cents a share on revenue of $87-$91 million. For the full year, it expects a profit of 39-42 cents a share on revenue of $465-$475 million.

Moreover, the company today announced Bill Sorenson’s intention to resign as Chief Financial Officer for personal reasons. The company has initiated a search to identify a Chief Financial Officer and expects to conclude the search process expeditiously. Mr. Sorenson plans to continue as Chief Financial Officer of QlikTech until a successor is named in order to facilitate an orderly transition of his responsibilities.

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