Nortia Research: Blackboard

Wednesday, December 24, 2008

Blackboard

Founded in 1997 with a vision to enable educational innovations everywhere by connecting people and technology, Blackboard is a leading provider of e-Education enterprise software applications and services. Consisting of five software applications bundled in two suites, the Blackboard Academic Suite and the Blackboard Commerce Suite, these products are licensed on a renewable basis.
Our global clients include primary and secondary schools, higher education, corporation and government markets as well as textbook publishers and student-focused merchants. Blackboard and its clients have pioneered the emergence of the e-Education industry around the world.

Blackboard's online learning application, the Blackboard Learning System, is the most widely-adopted course management system among U.S. postsecondary institutions.

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Blackboard Inc. Reports Third Quarter 2008 Results

 - Company Reports Record Cash Flow from Operations and Raises Full Year Cash
                      Flow from Operations Guidance -

       - Third Quarter Revenue Increases 35 Percent to $83.1 Million -

WASHINGTON, Oct. 29 /PRNewswire-FirstCall/ -- Blackboard Inc. (Nasdaq: BBBB) today announced financial results for the third quarter ended September 30, 2008 and updated guidance for the fourth quarter and the full year of 2008.

Total revenue for the quarter ended September 30, 2008 was $83.1 million, an increase of 35 percent over the third quarter of 2007. Product revenues for the quarter were $74.3 million, an increase of 38 percent over the third quarter of 2007, while professional services revenues for the quarter were $8.8 million, an increase of 16 percent over the third quarter of 2007. For the third quarter of 2008, net income was $2.1 million, or $0.07 per basic share and $0.06 per diluted share, compared to net income of $3.3 million, or $0.11 per basic and diluted share for the third quarter of 2007. In the quarter, the company had a $2.4 million benefit for income taxes.

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