Blackbaud, a provider of software and related services for nonprofits, reported net income of $7.6 million, or 17 cents a share, in the first three months of 2011 on revenue of $87.3 million, compared to net income of $6 million, or 13 cents a share, on revenue of $76.2 million, in the same period a year ago.
The company, based in Charleston, S.C., ended the first quarter with $24.1 million in cash, compared to $28 million at the end of the previous quarter, and generated $17.5 million in cash from operations, compared to $7.3 million in the same period a year ago.
Blackbaud used $16.5 million for the acquisition of Public Interest Data, and $5.3 million for the quarterly payment of dividends to stockholders.
Its board approved a second-quarter dividend of 12 cents a share payable on June 15, 2011, to stockholders of record on May 27, 2011, compared to a dividend of 11 cents a share in the same period a year ago.
The company says roughly 24,000 organizations use one of more of its products and services.
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