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Blackbaud: 4Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Monday reported fourth-quarter net income of $1.3 million.

On a per-share basis, the Charleston, South Carolina-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The software and services provider in the nonprofit sector posted revenue of $237.8 million in the period. Its adjusted revenue was $238.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $231.4 million.

For the year, the company reported profit of $11.9 million, or 25 cents per share. Revenue was reported as $902.4 million.

Blackbaud expects full-year earnings in the range of $2.20 to $2.35 per share, with revenue in the range of $930 million to $955 million.

Blackbaud shares have fallen slightly more than 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.74, an increase of almost 8% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLKB at https://www.zacks.com/ap/BLKB