Blackbaud, Inc. Announces Fourth Quarter and Full Year 2008 Results

For the quarter ended December 31, 2008, non-GAAP revenue, including a $1.5 million revenue adjustment related to Kintera purchase accounting, was $81.9 million, an increase of 17% compared with the fourth quarter of 2007. Non-GAAP income from operations, which excludes stock-based compensation expense and amortization of intangibles arising from business combinations, was $17.6 million, an increase from $17.3 million in the same period last year. Non-GAAP net income was $10.4 million for the quarter ended December 31, 2008, compared with $10.5 million in the same period last year. Non-GAAP diluted earnings per share were $0.24 for the quarter ended December 31, 2008, above the high-end of the Company’s guidance of $0.22 to $0.23 and up over the year ago period.