Blackbaud revenue grows

Blackbaud, a Charleston, S.C., provider of software and services for nonprofits, reported revenue grew to nearly $48.8 million in the second quarter ended June 30, up from $42.8 million in the same period a year earlier.

Net income for the second quarter fell to $7.7 million from $8.5 million a year earlier, when the company said it received $2.9 million in state tax credits that were not repeated this year.

Diluted earnings per share totaled 17 cents in the second quarter, compared to 18 cents in the same period a year earlier.

Revenue in the quarter grew to $9.2 million from license fees, nearly $15.7 million from services, and $22.5 million from maintenance and subscriptions, compared to $8.3 million, $14.1 million and nearly $19.2 million, respectively, in the same period a year earlier.

Blackbaud’s board of directors declared a third-quarter dividend of 7 cents a share payable on September 15 to stockholders of record on August 28.

In a statement, CEO Marc Chardon said the company had “identified several new nonprofit market opportunities” and planned, for example, to “develop solutions to bring a greater level of effectiveness to the direct-response marketing needs of many large nonprofit organizations.”

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