WASHINGTON (dpa-AFX) - Qlik Technologies Inc. (QLIK) Thursday said its first-quarter loss widened to $7.5 million or $0.09 per share from $5.1 million or $0.06 per share in the year-ago quarter. The wider loss was attributed mainly to higher operating expenses as well as a stock compensation expense of $4.0 million which offset a 26 percent revenue growth.
Adjusted loss, excluding stock-based compensation and employer payroll taxes related to stock transactions, totaled $2.5 million for the first quarter, compared to $2.7 million last year. On a per-share basis, adjusted loss was $0.03, flat with last year.
On average, 17 analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the first quarter. Analysts' estimates typically exclude special items.
First-quarter revenues totaled $79.2 million, up 26 percent from $63.0 million last year. Analysts expected revenues of $78.16 million for the period.
Operating expenses for the period increased to $77.6 million from $59.8 million last year.
Looking ahead to the second quarter of 2012, the company expects adjusted earnings to range between $0.01 and $0.03 per share. Analysts currently expect earnings of $0.05 per share for the second quarter. Revenues for the period is forecast in the range of $91.0 million to $96.0 million. Analysts expect revenues of $94.22 million for the second quarter.
The company also raised its guidance for fiscal year 2012, with adjusted earnings now expected in the range of $0.41 to $0.45. Analysts currently expect earnings of $0.41 per share for 2012.
Revenues are expected to range between $408.0 million and $418.0 million, with analysts anticipating revenues of $408.92 million for 2012.
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