The bottom line got a great deal of help from reduced operating expenses which were down almost 1 percent for the quarter and 2.6 percent for the year. Most of the savings were in G&A expenses, which were trimmed by 23.3 percent over the 2012 level. The increase in revenue was good, rising to $134.9 million for the fourth quarter, up 12.3 percent from $120.1 million a year earlier, and to $503.8 million, a 16.6-percent increase from 2012's $447.4 million. With new CEO Mike Gianoni having started only in January the week's earnings webcast was bland, and pretty much all numbers. His comments were generally limited to talking about getting to know the company and why he took the job. About the most exciting issue was a discussion of the change of accounting for revenue for Blackbaud payment services from a net to gross basis. There was almost no discussion about the performance of specific product lines. CFO Tony Boor noted the Charleston, S.C.-based vendor experienced "double-digit growth of recurring revenue in both our enterprise and general markets business unit." And in terms of the moving to the cloud, Boor commented, "We are moving and migrating forward with the Edge products."