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Blackbaud posts higher revenue, net income

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Blackbaud, a provider of software and related services for nonprofits, reported higher revenue and net income for both the three months and year ended Dec. 31.

For the year, revenue grew 6 percent to $327.1 million, while net income grew to $29.8 million, or 68 cents a share, from 28.4 million, or 65 cents a share, a year earlier.

For the fourth quarter, revenue grew roughly 10 percent to $87 million, while net income grew to $8.5 million, or 20 cents a share, from $8 million, or 18 cents a share, in the same period a year earlier.

While the Blackbaud Index of Charitable Giving reported overall giving remained flat for the three months ended November 2010 compared to the same period a year earlier, Blackbaud’s growth grew each quarter in 2010 and approached 10 percent near the end of the year, Marc Chardon, CEO of the Charleston, S.C.-based company, says in a statement.

The company ended the fourth quarter with $28 million in cash, compared to $26.3 million at the end of the previous quarter.

Blackboard’s board of directors approved a cash dividend of $48 cents for 2011, up from 44 cents paid in 2010.

The board also approved a first-quarter dividend of 12 cents a share payable on March 15 to stockholders of record on Feb. 28.

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