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CONVIO REVS UP ON EVE OF BLACKBAUD DEAL
Convio, which is soon going to be part of Blackbaud, registered a sharp increase in net income for the fourth quarter and year ended December 31 as revenue for the periods went up by double digits. Fourth quarter net income was $12.5 million, a big jump from $65,000 in last year’s corresponding period.
Revenue for the quarter was $20.4 million, a 20-percent rise from just under $17 million a year ago. Net income for 2011 of $14.9 million was more than four times the $3.5 million earned in 2010. Last year’s revenue was $80.4 million, up 15 percent from $69.7 million in 2010. Convio will fit into the fundraising side of Blackbaud’s business. It makes online systems that combine fundraising capabilities with CRM. I keep thinking it sounds like a car. “I just got the 2012 Convio with leather seats and a moon roof."
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