The company added 100 sales reps in 2016 and 2017 but “kept it relatively flat year-to-date because we just had a big push on productivity, and we're seeing productivity really come up nicely,” CEO Mike Gianoni said during the webcast. The company is now on a hiring track again. On the numbers side, net income fell to $6.6 million for the most recently ended quarter, down 40.2 percent from $11 million a year ago. Revenue rose 11.5 percent to $213.7 million in the second quarter from $191.6 million in last year’s corresponding period. Operating expenses rose at a faster rate than revenue, reaching $107.1 million, an increase of 14.8 percent from $88.1 million. Expenses included a $3.7-million restructuring charge. During the quarter, the company moved into a new headquarters in Charleston, S.C., and “continued upgrading and expanding our satellite office locations to be more centrally located for employees and closer to customers,” Gianoni said.
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BLACKBAUD TO GROW SALES FORCE Featured
Blackbaud intends to grow its sales force in the second half after focusing on increasing productivity in the first half. Company executives outlined that plan in this week’s webcast for earnings for the second quarter ended June 30.
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