Buoyed by double-digit increases in license and subscription revenue, non-profit software provider Blackbaud Inc. posted second-quarter profits of $8.5 million, compared with $5.3 million for the same period last year.
System-wide revenue for the second period rose 20 percent, to $42.8 million, versus the second quarter in 2004.
The company also said licensed revenue rose 14 percent, to $8.3 million, while services revenue jumped 27 percent, to $14.1 million. Maintenance and subscription revenue rose 18 percent, to $19.1 million.
In addition, the company's board reinstituted its stock buyback plan, approving the repurchase of up to $35 million in stock. Earlier this month, Blackbaud launched a partnership with Silverpoint, a Web-site provider, to create custom Web sites for independent, private and religious schools. Blackbaud's has approximately 2,200 private school customers and has been providing technology to nonprofits since 1981.
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