Blackbaud: Q4 Earnings Snapshot

CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Monday reported fourth-quarter net income of $5.4 million, after reporting a loss in the same period a year earlier.

The Charleston, South Carolina-based company said it had net income of 10 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.14 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The software and services provider in the nonprofit sector posted revenue of $295 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $298.1 million.

For the year, the company reported net income of $1.8 million, or 3 cents per share, swinging to a profit in the period. Revenue was reported as $1.11 billion.

Blackbaud expects full-year earnings in the range of $4.12 to $4.38 per share, with revenue in the range of $1.17 billion to $1.2 billion.

Blackbaud shares have declined roughly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $82.65, a rise of 35% 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