Blackbaud reports year-end results

Blackbaud, a Charleston, S.C.-based provider of software and services for nonprofits, reported higher net income and lower revenue for the fourth quarter of 2009 and lower net income and higher revenue for the year.

In the fourth quarter, net income grew to nearly $8 million, or 18 cents a share, compared to $6.5 million, or 15 cents a share in the last three months of 2008, while revenue fell to nearly $79 million from nearly $80.5 million in the same period a year earlier.

For the year, net income fell to $28.4 million, or 65 cents a share, from nearly $29.9 million, or 68 cents a share, in 2008, while revenue grew to $209.3 million from nearly $302.5 million.

Blackbaud’s board declared a first-quarter dividend of 11 cents a share payable on March 15, 2010, to stockholders of record on Feb. 26 2010.

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