CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Tuesday reported first-quarter net income of $4.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charleston, South Carolina-based company said it had profit of 10 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The software and services provider in the nonprofit sector posted revenue of $223.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $223.3 million.
Blackbaud shares have declined 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $55.42, a decline of 30% in the last 12 months.