Charleston tech firm Blackbaud reports 1Q sales, earnings

Mike Gianoni is the CEO of Blackbaud.

Charleston technology firm Blackbaud Inc. reported higher sales and profit for the first quarter.

Sales totaled $147.0 million for the January-March period, up 15.2 percent from a year earlier.

Net income rose 13 percent to $4.3 million, or 9 cents a share, from the opening quarter of 2014.

“We are very pleased with the strong start to the year in both revenue and profitability,” CEO Mike Gianoni said in a written statement. “Our recurring revenue has continued to grow in line with our strategy, and exceeded 75 percent of total revenue for the first time in our history. In addition, we continued solid execution on our key programs within our five growth and operational improvement strategies.”

Revenue got a boost from acquisitions last year, the Daniel Island company said.

“We are seeing the positive benefits of the investments we have made in areas targeted to accelerate growth, increase total recurring revenue, and continue to increase our operational efficiencies,” said Tony Boor, executive vice president and chief financial officer

Blackbaud sells software and services to help nonprofit organizations raise money. It is considered the biggest company in the world in that industry.

The company will hold a conference call with analysts at 8 a.m. Thursday to discuss the financial results, operations and related matters.

It also announced it has approved a second quarter dividend of 12 cents a share payable June 15 to stockholders of record on May 28.