Blackbaud revenue up, earnings down

July 31, 2009

Blackbaud, a provider of software and services for nonprofits, reported higher revenue and lower net income in the second quarter, compared to the same period a year ago.

Revenue grew five percent to $76.4 million from $72.5 million in the three months ended June 30, compared to the same period last year, while net income fell to nearly $6.6 million, or 15 cents a share, from nearly $9 million, or 21 cents a share.

"We are making solid progress against our goal of establishing a clear market leadership position in online fundraising solutions," Marc Chardon, Blackbaud's CEO, says in a statement.

He says the company's "efforts and investments to solidify our leadership position and expand our addressable market opportunity will pay off in a meaningful when the economy improves and [information-technology] budgets increase in the nonprofit sector."

Blackbaud, based in Charleston, S.C., says its board of directors declared a third-quarter dividend of 10 cents a share payable on Sept. 15 to stockholders of record on Aug. 28.

The company says 22,000 organizations use its products and services.

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