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

For the year ended December 31, 2008, non-GAAP revenue, including a $4.0 million revenue adjustment related to Kintera purchase accounting, was $306.5 million, an increase of 19% compared with the full year 2007. Non-GAAP income from operations, which excludes stock-based compensation expense and amortization of intangibles arising from business combinations, was $69.5 million, an increase compared with $62.8 million in the full year 2007. Non-GAAP net income was $41.7 million for the year ended December 31, 2008, leading to non-GAAP diluted earnings per share of $0.95. This compares with non-GAAP net income of $37.8 million and diluted earnings per share of $0.84 in the full year 2007.