Convio posts revenue growth, slight net loss

Gene Austin
Gene Austin

Convio, a provider of online constituent-engagement solutions for nonprofits, reported a net loss of $72,000 on revenue of $18.3 million for the three months ended March 31, compared to net income of $182,000 on revenue of $16.7 million in the same period a year ago.

Non-GAAP diluted net income per share totaled 5 cents, compared to 11 cents a year ago.

The company, based in Austin, Tex., said its clients raised over $329 million online in the first quarter, up 22 percent from the same period a year ago after factoring out transactions related to giving for relief efforts for disasters such as the earthquakes in Japan and Haiti.

Convio also said it expects revenue for the year to total roughly $77.5 million to $79.5 million, or 11 percent to 15 percent more than in 2010, and diluted non-GAAP income per share to total roughly 38 cents a share to 41 cents a share.

Gene Austin, CEO and president, said in a statement the company expects quarterly year-to-year growth rates will be “significantly higher” in the second half of 2011, compared to recent quarters.

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