Blackbaud posts higher revenue, earnings

Blackbaud, a provider of software and services for nonprofits, reported net income of $8.8 million, or 20 cents a share, for the third quarter ended Sept. 30, up from $8.4 million, or 19 cents a share, in the same period a year earlier.

Revenue for the company, based in Charleston, S.C., grew to $67.8 million from nearly $47.8 million a year earlier.

CEO Marc Chardon said in a statement the contribution from two recent acquisitions — the Target Companies, which provide direct-response-marketing services to nonprofits, and eTapestry, which provides on-demand fundraising solutions — were “very strong, with each generating better-than-expected revenue performance.”

He also said the company, with nearly 19,000 customers, believes its “overall market opportunity remains largely under-penetrated.”

Blackbaud also said its board of directors had declared a fourth-quarter dividend of 85 cents a share payable on Dec. 14, 2007, to stockholders of record on Nov. 28, 2007.

A year ago, the board declared a fourth-quarter dividend of 70 cents a share.

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