Summary
Blackbaud, Inc. reported its financial results for the first quarter of 2012 in its 10-Q filing, focusing on operational aspects such as cash flow, lease commitments, and foreign currency effects. Net cash used in financing activities for the quarter was $4.6 million, slightly less than the $4.8 million used in the same period last year. Dividends remained consistent, with the company distributing approximately $5.4 million in both years. Stock option exercises during the quarter were counterbalanced by costs incurred to amend the company's credit facility, indicating a potential strategic adjustment in its financial structure.
The company reaffirmed its dividend policy, with the Board approving an annual rate of $0.48 per share which would total $21.1 million, assuming the current level of shares outstanding. The ability to sustain this dividend rate depends on several factors including credit facility terms, economic conditions, and cash flow generation.
Blackbaud's future lease commitments as of March 31, 2012, were noted at $58.3 million, with no substantial changes reported in contractual obligations from the previous quarter. The company relies on third-party relationships for its product offerings, which involve purchasing commitments amounting to $6.8 million through 2013, showing a reliance on these external partnerships for steady operations.
Approximately 15% of Blackbaud's revenue for the quarter was from international operations, exposing it to potential fluctuations in currency exchange rates. The weaker U.S. dollar has historically increased revenues and expenses from non-U.S. currency transactions, but the Q1 2012 period marks a deviation with foreign translation decreasing these parameters slightly. The company remains vigilant in monitoring currency exposure, though it has not materially impacted overall financial results.
It is clear from the management discussion that Blackbaud is operating within a competitive landscape with inherent risks. However, specifics on risk factors were not provided in the filing, leaving a gap in understanding potential vulnerabilities.
In summary, Blackbaud's first quarter of 2012 financial condition appears stable, maintaining consistent dividend payments and effectively managing its financing activities. Yet, its exposure to currency fluctuations and third-party dependencies highlights critical areas for ongoing attention.
Forecast
No forward guidance in this quarter's filings.
Reported figures
GAAP, from SEC filings| Metric | Q1 FY2012 | Q4 FY2011 | QoQ | Q1 FY2011 | YoY |
|---|---|---|---|---|---|
| Revenue | $94.7M | $94.7M | +0.0% | $87.3M | +8.5% |
| Gross profit | $53.6M | $52.5M | +2.2% | $51.0M | +5.1% |
| Gross margin | 56.6% | 55.5% | +1.2 pp | 58.5% | -1.8 pp |
| Research & development | $13.3M | $11.4M | +16.2% | $12.0M | +11.2% |
| Sales & marketing | $20.4M | $18.2M | +11.7% | $19.3M | +5.3% |
| General & administrative | $14.5M | $9.6M | +51.3% | $9.2M | +57.6% |
| Total operating expenses | $48.4M | $41.3M | +17.1% | $40.7M | +18.7% |
| Operating income (loss) | $5.3M | $11.2M | -53.0% | $10.3M | -49.0% |
| Operating margin | 5.5% | 11.8% | -6.3 pp | 11.8% | -6.2 pp |
| Net income (loss) | $2.8M | $6.9M | -60.3% | $7.6M | -63.6% |
| Net margin | 2.9% | 7.3% | -4.4 pp | 8.7% | -5.8 pp |
| Diluted EPS | $0.06 | $0.16 | -$0.10 | $0.17 | -$0.11 |
| Customers | 27,000 | 26,000 | +3.8% | — | — |
Summary, forecast, risks and KPIs are extracted from BLACKBAUD INC's SEC filings for Q1 FY2012 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Aug 4, 2026.