Key Developments For Blackboard Inc.
Blackboard Inc. (BBBB.O) (Nasdaq)
Blackboard, Inc. Joins Forces With Microsoft Corp. To Make Course Information Available On Web Browsers
Blackboard, Inc. announced an alliance with Microsoft Corp., to offer students and learners access to information from their online courses on Web browsers, enabling them to keep up with important course updates while surfing the Web, not just when logged into their Blackboard accounts. Under the agreement, Blackboard and Microsoft will work together to enable notifications to appear in their Web browser using the Bing toolbar when new course information becomes available through the Blackboard Learn platform. The toolbar will also be compatible with the Internet Explorer and Firefox Web browsers. As part of the alliance, Blackboard is also using Microsoft's Bing decision engine to help power its SafeAssign plagiarism prevention service. In addition, Microsoft has joined the Blackboard Alliance Program as a Blackboard Premier Partner.
Blackboard, Inc. Issues Q4 2009 Guidance In Line With Analysts' Estimates; Raises FY 2009 Guidance
Blackboard, Inc. announced that for fourth quarter of 2009, it expects revenue of $96.7-$99.7 million, GAAP net income of $4.2-$6.4 million, GAAP net income per diluted share of $0.12 to $0.19, non-GAAP adjusted net income of $13.3 to $15.5 million, which excludes the amortization of acquisition-related intangible assets, stock-based compensation, and non-cash interest expense, all net of taxes and non-GAAP adjusted net income per diluted share of $0.40 to $0.46 based on an estimated 33.7 million diluted shares and an estimated effective tax rate of approximately 35%. For fiscal 2009, it expects revenue of $373.6-$376.6 million, GAAP net income of $4.4 to $6.5 million, GAAP net income per diluted share of $0.13 to $0.20, non-GAAP adjusted net income of $44.1 to $46.3 million, which excludes the amortization of acquisition-related intangible assets, stock-based compensation, non-cash interest expense, and non-cash patent related impairment charge, all net of taxes and non-GAAP adjusted net income per diluted share of $1.34 to $1.41 based on an estimated 32.8 million diluted shares and an estimated effective tax rate of approximately 38%. According to Reuters Estimates, analysts were expecting the Company to report revenues of $98.2 million, net income of $13.7 million and EPS of $0.41 for fourth quarter of 2009; revenues of $373.5 million, net income of $43.12 million and EPS of $1.33 for fiscal 2009.
Blackboard, Inc. Partners With Imagine America Foundation To Bring Online Learning To Military Veterans
Blackboard, Inc. announced a partnership with the Imagine America Foundation, an associated foundation of the Career College Association, to bring online education opportunities to military veterans in an effort to help them acquire skills needed for success as they move into civilian careers. As part of the partnership, Blackboard's Professional Education division will work with Imagine America, a nonprofit organization, in support of the IAF LDRSHIP Award over the next five years.
MiCTA Selects Blackboard, Inc. As Endorsed Learning Management System Vendor
Blackboard, Inc. announced that MiCTA, a national non-profit technology consortium, has selected the Company as an endorsed Learning Management System (LMS) vendor.
Blackboard, Inc. Announces Two New Client Agreements
Blackboard, Inc. announced two new client agreements that extend Blackboard Connect services to the Caribbean for the first time. In Puerto Rico, Inter-American University has been using the Blackboard Learn platform for six years. The university has now expanded the agreement to include the Blackboard Connect multi-modal communication platform. American University of Antigua will also integrate the Blackboard Connect platform as an important part of its campus-wide communication plan.
