|
11 May 2010 ,
Written by Dhruv Tanwar
|
|
Blackboard's total revenue for the first quarter ended March 31, 2010 was $101.1 million, up 17 percent over the first quarter of 2009. Net income was $5 million, and net income per basic and diluted share was $0.15 per share, as compared to a net loss of $37,000 or a net loss per basic and diluted share of ($0.00) per share for the first quarter of 2009.
The company also revised its outlook for the second quarter and Full Year of 2010. For the second quarter, it expects revenue of $104.2 million to $108.2 million; stock-based compensation expense of approximately $5 million; net income of $2.6 million to $4.9 million, net income per diluted share of $0.07 to $0.14 on an estimated 35.1 million diluted shares and an estimated effective tax rate of approximately 33 percent, For the full year 2010, revenue is anticipated at $433.4 to $445.4 million; stock-based compensation expense of approximately $20.7 million; net income of $22.7 to $29.7 million, net income per diluted share of $0.64 to $0.84 based on an estimated 35.2 million diluted shares and an estimated effective tax rate of approximately 33 percent. It expects free cash flow from operations (cash flow from operations less purchases of property and equipment) of $80 to $90 million. |