Blackboard Inc. (BBBB) reported that its fourth-quarter net income increased to $7.714 million or $0.23 per share from $1.758 million or $0.06 per share last year.
Non-GAAP adjusted net income per share increased to $0.49 from $0.35 last year.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues increased to $100.034 million from $85.022 million prior year. Analysts expected revenue of $99.03 million for the quarter.
The company expects first quarter revenue in the range of $98.6 million-$102.6 million; GAAP net income in the range of of $3.2 million-$5.7 million, resulting in GAAP net income per share of $0.09 to $0.16, Non-GAAP adjusted net income of $12.5 million-$15.1 million, Non-GAAP adjusted net income per share of $0.36-$0.43.
The company expects fiscal 2010 revenue of $424.0 million-$440.0 million; GAAP net income of $23.1 million to $33.3 million, resulting in GAAP net income per share of $0.65 to $0.94, Non-GAAP adjusted net income of $58.6 million to $68.8 million, Non-GAAP adjusted net income per share of $1.65 to $1.94.
The company also announced that Mike Beach announced that he will retire from his CFO position. John Kinzer will succeed Mike Beach as the company's CFO effective March 1. As part of the planned transition process, Beach will serve in an advisory capacity through the end of the second quarter.
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