Blackbaud, a provider of software and related services for nonprofits, reported higher revenue and net income for the first quarter ended March 31.
Total revenue for the company, based in Charleston, S.C., totaled $76.2 million for the three-month period, compared to $74.7 million in the same period a year earlier.
Net income totaled $6 million, or 13 cents in diluted earnings a share, compared to $4.1 million, or 9 cents a share, in the same period last year.
Marc Chardon says in a statement that Blackbaud, with over 22,000 nonprofit customers, is "encouraged by a few initial signs of stabilization in the small and mid-sized organization segments of our market."
But he says the "macro environment facing nonprofit organizations remains challenging."
The company will continue to focus on key growth areas, including online fundraising, Chardon says.
Subscription-based solutions, he says, continue to represent Blackbaud's fastest-growing revenue segment.
Blackbaud's board of directors declared a second-quarter dividend of 11 cents a share payable on June 15, 2010, to stockholders of record on May 28, 2010.
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