QlikTech Announces Fourth Quarter and Full Year 2010 Financial Results

Qlik Technologies Inc., a leader in Business Discovery™– user-driven Business Intelligence, today announced financial results for the fourth quarter and full year ended December 31, 2010.

Lars Björk, Chief Executive Officer of QlikTech, stated, "The fourth quarter was highlighted by revenue that significantly exceeded our expectations, increasing 32% year-over-year. This was driven by a combination of strong market demand, solid execution and QlikTech's disruptive value proposition. 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."

Björk added, "We further accelerated the company's hiring plans as a result of our strong momentum, increasing our headcount in order to effectively staff up in anticipation of expected 2011 demand. As we look to 2011, we will continue to invest in the business in order to capitalize on our product leadership position and gain market share. At the same time, we remain focused on growing our profitability and delivering incrementally higher operating margins."

Article sourced from www.qlikview.com, click here to read full story.