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BLACKBAUD ENDS 2009 WITH NET UP

Blackbaud ended its year on December 31 reporting a 17.9 percent rise in net income on a 4.7 percent decline in revenue for the fourth quarter. Net income rose to just under $8 million in the most recently ended quarter, compared to $6.5 million a year earlier. Fourth-quarter revenue was just under $79 million, down from $80.5 million.

Results for 2009 showed with net income of $28.4 million, dropping 4.8 percent from just under $30 million for 2008. However, executives on a conference call warned the nonprofit market would likely lag any economic recovery and while the number of opportunities it is pursuing has risen, the number of delayed or postponed deals have gone up by more.

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