Earnings Call Excerpt
Blackbaud, Inc. (BLKB)
Q1 2009 Earnings Call
April 30, 2009 5:00 pm ET
Executives
Tim Williams - SVP, CFO
Marc Chardon - CEO
Analysts
Horacio Zambrano - Jefferies & Co
John Neff - William Blair
Tom Roderick - Thomas Weisel Partners
Priya Parasuraman - Wachovia
Presentation
Operator
Welcome to the Blackbaud's first quarter 2009 Earnings Call. Today's call is being recorded. (Operator Instructions).
I would like to turn the conference over to Mr. Tim Williams, Senior Vice President and Chief Financial Officer of Blackbaud. Please go ahead, sir.
Tim Williams
Thank you very much. Good afternoon, everyone. Thank you for joining us today to review our first quarter 2009 results. With me on the call is Marc Chardon, President and Chief Executive Officer. Marc and I have some prepared remarks, and then we will open up the call later for questions.
Please note our remarks today contain forward-looking statements. These statements are based solely on present information and are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements.
Please refer to our SEC filings, including our most recent report on Form 10-K and the risk factors contained therein, as well as our periodic reports under the Securities Act of 1934 for more information on these risks and uncertainties and on the limitations that apply to our forward-looking statements.
Also, please note that a webcast of today's call will be available in the Investor Relations section of our website.
With that, let me turn the call over to Marc, and I will come back a little bit later to give some further details regarding our financials. Marc?
Marc Chardon
Thank you, Tim, and my thanks to all of you on the call for joining us today to review our first quarter 2009 financial results.
A strong final month of the quarter enabled Blackbaud to deliver revenue that was at the higher end of our guidance. When combined with tight cost controls from the start of the quarter, this led to profitability that was well ahead of our expectations.
Areas of our business that were particularly strong included our Enterprise CRM solutions, where we experienced record sales activity, and online fundraising, led by the strong performance of our Sphere offering.
Looking back, we are truly fortunate that we have made investments in our key growth initiatives and that we made them when we did, because it is the success of these initiatives that are a very large reason Blackbaud is delivering solid financial results and weathering the challenging economic environment.
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