Revenue increased to $127.9 million in the most recently ended period, up from $122.5 million a year ago. License revenue dropped to $3.8 million, off 14.2 percent from $4.5 million while subscription income rose to just over $52 million, a 9.7-percent increase from $47.4 million. CFO and acting CEO Anthony Boor said that the company's accounting line, the Financial Edge, showed "particular strength" and noted that sales of that product are entirely subscription-based.
BLACKBAUD EARNINGS TRIPLE Featured
Net income for nonprofit software vendor Blackbaud more than tripled for the third quarter ended September 30 as revenue rose by 4.4 percent. That came as license revenue continued to drop while subscription revenue rose. Net income hit $9.4 million, compared to $2.8 million in last year's corresponding period.
