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Blackbaud beats 4Q profit forecasts

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Tuesday reported fourth-quarter earnings of $30.7 million.

The Charleston, South Carolina-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The software and services provider in the nonprofit sector posted revenue of $217 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $217.3 million.

For the year, the company reported profit of $65.9 million, or $1.38 per share. Revenue was reported as $788.3 million.

Blackbaud expects full-year earnings in the range of $2.75 to $2.88 per share.

Blackbaud shares have fallen nearly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $91.75, a climb of 42 percent in the last 12 months.

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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