Blackbaud Inc. (NASDAQ:BLKB) reported its results for the fourth quarter. Blackbaud is a global provider of software and related services designed specifically for nonprofit organizations.
Investing Insights: Warren Buffett Trashes Gold, But What About Silver?
Blackbaud Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Blackbaud Inc. fell to $6.4 million (14 cents per share) vs. $7.2 million (17 cents per share) a year earlier. This is a decline of 12.3% from the year-earlier quarter.
Revenue: Rose 10.8% to $95 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Blackbaud Inc. reported adjusted net income of 27 cents per share. By that measure, the company beat the mean estimate of 24 cents per share. It fell short of the average revenue estimate of $99.2 million.
Quoting Management: Marc Chardon, Chief Executive Officer of Blackbaud, stated, “We continued to enjoy solid sales activity during the fourth quarter, contributing to a record year for Blackbaud. The combination of improved customer demand, solid execution and our broad suite of solutions enabled us to re-accelerate revenue growth back to the double digit range during 2011. This was a significant accomplishment in light of the continued challenging economic environment, and it provides us with momentum for 2012.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the third quarter, by 2 cents in the second quarter, and by 5 cents in the first quarter.
Looking Forward: The average estimate for the first quarter of the next fiscal year is steady at 22 cents a share. The average estimate hasn’t changed from 88 cents per share for the fiscal year.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
To contact the reporter on this story: Derek Hoffman at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org