And moving from license sales to subscriptions sales is going to have an impact on results for 2015. "The transition will have a dampening effect on our revenue our margins and net income in the near term," said CFO Tony Boor. Last year was marked by the impact of acquisitions and expenses. Net income for the most recently ended year was $28.3 million, down 7.2 percent from $30.5 million in 2013. Revenue rose to $564.4 million in 2014, up 12 percent from $508 million the prior year. Boor noted the Charleston, S.C-based nonprofit vendor had become more aggressive in decreasing the number of technology systems, particularly those introduced via acquisition. "We consolidated 24 legacy systems into six best-of-breed platforms, which are expected to drive increasing operating efficiency and contribute to the margin improvement plan we are focused on executing through 2017," Boor said.
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CLOUD TO HIT BLACKBAUD RESULTS Featured
Blackbaud spent much of its conference call about the results for the year ended December 31 preparing Wall Street and investors for the impact of its upcoming NXT product line. Raiser's Edge NXT and Financial Edge NXT have been sold since December and will be delivered in the second half. Those buying the desktop versions are buying the right to upgrade to the cloud-based NXT lines.
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