Blackbaud revenue, income jump

Blackbaud reported revenue growth of 20 percent for the second quarter of 2005, its highest revenue jump in five years, the company says.

The Charleston, S.C.-based company, which provides software and maintenance to nonprofits, posted total revenue of $42.8 million for the quarter ended June 30, and net income of $8.5 million, up 60 percent from the second quarter of 2004.

Diluted earnings per share were $0.18 versus $0.12 the previous year, the company says, and the board approved a dividend for the third quarter of $0.05 per share.

Revenue derived from software licenses grew 14 percent, while services revenue was up 27 percent and maintenance and subscription revenue jumped 18 percent, the company says.

The strong performance was due to the company’s business model, which is based on high transaction volume and recurring revenue sources, says Timothy Williams, Blackbaud’s chief financial officer.

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