QlikTech Announces First Quarter 2011 Financial Results

Qlik Technologies Inc., a leader in Business Discovery—user-driven Business Intelligence (BI), today announced financial results for the three month period ended March 31, 2011.

Lars Björk, Chief Executive Officer of QlikTech, stated, "This was an excellent quarter for QlikTech. Revenue grew 44% year-over-year, with particular strength in the United States, our largest individual sales territory. We continued with our strategy of increasing investments to capture growth, adding 103 net employees during the quarter, the majority of which are in customer facing positions, and ending the quarter with a headcount of 883 people, a 43% increase year-over-year. We believe these ongoing investments, combined with the value of our user-driven BI solution, are paying off."

Björk added, "Based on our strong start to the year and the opportunity we see in front of us, we are increasing our revenue guidance for 2011. We will continue to invest in all aspects of our business from quota carriers to marketing professionals as well as additional inside sales capabilities in Europe to complement our North American initiative, while still managing the business to meet our operating profitability goals for the full year."

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