Revenue rose to $115.6 million, an increase of 22.1 million from $94.7 million in last year’s corresponding period, outpacing an 18.7-percent increase in operating expenses. The Blackbaud P&L is the textbook for the switch to the new software market. Its license fees plunged to just under $3 million from $7.2 million a year ago. But subscription revenues rose 75 percent to $47.8 million for the most recently ended quarter, compared to $28.1 million a year earlier. And CEO Marc Chardon pointed to what he said was "continued traction" from a subscription offer for selling the Financial Edge accounting package. CRM continues to boom for the Charleston, S.C.-based vendor. "There is a significant opportunity to bring our CRM offerings down market," Chardon also said. He did not specify how or when this would occur. Chardon, who will leave the company once a successor is found, said the company has a healthy pipeline with its enterprise business customer unit "off to a solid start." He also said the product pipeline is benefiting from the beginning of the cycle of replacement of legacy systems.