Amid the current economic turmoil, Convio has posted record revenue for the third quarter of 2008.
The Austin-based company, which provides software and services to help nonprofits manage their constituents, says its revenue for the quarter ended Sept. 30 grew 26 percent to $14.9 million, while operating cash flow stood at $1.1 million.
Convio posted income from operations of $751,000, after excluding stock-based compensation and expenses related to the purchase of competitor GetActive Software. That compares to a loss of $722,000 in the same period last year.
The company processed $565 million in online donations to its clients during the first three-quarters of the year, almost doubling the volume of the same period in 2008.
Nonprofits using Convio software sent more than 2.2 billion emails during the first nine months of 2008, with a deliverability rate of 95 percent, Convio says.
"Our continued growth, record revenues, cash flow and profitability during a challenging economic period shows that nonprofit organizations are assessing their IT and software budgets and adopting solutions that drive results and develop stronger relationships with clients," Gene Austin, CEO of Convio, says in a statement.
- Professional Area: Management/leadership
