Spurred by double-digit spikes in service and subscription revenues, nonprofit software vendor Blackbaud Inc. posted first-quarter profits of $10.9 million for the period ended March 31, versus net income of $4 million for the year-ago quarter.

The company, headquartered here, said that first-period revenues rose 19 percent, to $37.3 million, versus the same period for fiscal 2004.

License revenue rose 27 percent, to $6.5 million, while revenue from services and subscriptions rose 20 percent, to $11.4 million, and 17 percent, to $18.4 million, respectively.

"The fact that we delivered our second-highest quarterly revenue growth rate in the past two years is a direct result of the investments we have made in research and development and the expansion of our key account sales force," said Blackbaud chief executive Robert J. Sywolski.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access