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February 12, 2008 |
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BLACKBOARD INC: Earns US$4.2 Mln in Quarter Ended December 31 Blackboard Inc. reported financial results for the fourth quarter and year ended Dec. 31, 2007. Net income was US$4.2 million for the fourth quarter of 2007 compared to net income of US$201,000 in the same period last year. Net income was US$12.9 million for the full year 2007 compared to a net loss of US$10.7 million in the same period last year. "This was a tremendous year for Blackboard," Michael Chasen, chief executive officer and president for Blackboard, said. "We are pleased with our financial results, made possible by our global client base adopting Blackboard products and services to manage their most mission-critical technologies. During the year, we realized strong revenue and earnings performance and generated operating cash-flows of more than US$69 million." At Dec. 31, 2007, the company's balance sheet showed total assets of US$307.3 million, total liabilities of US$167.18 million and total stockholders' equity of US$140.12 million. About Blackboard Inc. Headquartered in Washington D.C., Blackboard Inc. (Nasdaq: BBBB) -- http://www.blackboard.com/ -- is a provider of enterprise software applications and related services to the education industry. Founded in 1997, Blackboard's software applications are used by colleges, universities, K-12 schools and other education providers, well as textbook publishers and student- focused merchants that serve education providers and their students. Blackboard has offices in North America, the Netherlands, Australia, and China. * * * As reported on Jan, 17, 2008, Standard & Poor's Ratings Services said its ratings and outlook on Blackboard Inc. (B+/Positive/--) would not be affected by the company's disclosed acquisition of The NTI Group Inc. |
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