blackbaud inc (BNK) Snapshot

Blackbaud announced that major hospital systems including Dignity Health, Legacy Health and Catholic Health Initiatives will use Blackbaud CRM(TM) to empower users and enhance constituent engagement. Blackbaud CRM brings together fundraising, online applications, actionable prospect research and analytics, and multichannel direct marketing together in one platform to provide an integrated view of the constituent experience across an organization. Built to handle the unique needs of cause and cure, healthcare and other large direct response marketing organizations, higher education institutions and international NGOs, Blackbaud CRM works with nonprofits' unique processes to allow easier access to data and to offer a complete view of constituent and alumni activity.

Blackbaud Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $115,623,000 compared to $94,706,000 a year ago. Income from operations was $4,594,000 compared to $5,252,000 a year ago. Income before provision for income taxes was $3,020,000 compared to $4,800,000 a year ago. Net income was $2,666,000 or $0.06 per diluted share compared to $2,759,000 or $0.06 per diluted share a year ago. Non-GAAP revenue was $116,212,000 compared to $94,706,000 a year ago. Non-GAAP income from operations was $20,929,000 compared to $13,247,000 a year ago. Non-GAAP net income was $11,807,000 or $0.26 per diluted share compared to $7,805,000 or $0.17 per diluted share a year ago. Net cash provided by operating activities was $12,940,000 compared to $3,985,000 a year ago. Purchase of property and equipment was $6,292,000 against $6,297,000 a year ago. Unlevered free cash flow, which takes into consideration capital expenditures and excludes the impact of interest expense, was $7.6 million. For the second quarter of 2013, the company is forecasting non-GAAP revenue in the range of $121 million to $123 million, which represents a year-over-year growth of approximately 7%. From a profitability perspective, the company is forecasting non-GAAP operating income of $21 million to $23 million, resulting in a non-GAAP earnings per share of $0.26 to $0.29. For the full year of 2013, the company is maintaining forecast for total revenue in the range of $495 million to $505 million. The company is also maintaining profitability targets of a non-GAAP operating margin of $19 million to 19.5% for the full year 2013, which represents approximately 250 basis points of year-over-year expansion at the midpoint and non-GAAP EPS of $1.19 to $1.25 per share.

Blackbaud Inc. announced that its Board of Directors has approved a second quarter 2013 dividend of $0.12 per share payable on June 14, 2013, to stockholders of record on May 28, 2013.