Blackbaud (NASDAQ: BLKB) reported Q1 EPS of $32.00, in-line with the analyst estimate of $0.32. Revenue for the quarter came in at $147 million versus the consensus estimate of $147.5 million.

Mike Gianoni, president and CEO, commented, "We are very pleased with the strong start to the year in both revenue and profitability. Our recurring revenue has continued to grow in line with our strategy, and exceeded 75% of total revenue for the first time in our history. In addition, we continued solid execution on our key programs within our five growth and operational improvement strategies."

"Our organic growth and improved non-GAAP operating margin are additional steps toward our long term aspirational goals. We remain committed to achieving the 2015 revenue, profit and cash flow guidance that we provided earlier this year," concluded Mr. Gianoni.

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