WASHINGTON (AP) — Blackboard Inc. sank to a second-quarter loss as the educational software maker prepared to be taken private in a leveraged buyout.
The company said Wednesday that it lost $4.1 million, or 12 cents per share, in the three months ending in June. That contrasted with net income of $4.4 million, or 13 cents per share, at the same time last year.
If not for an assortment of costs unrelated to its ongoing business, Blackboard said it would have earned 31 cents per share in the latest quarter. Analysts polled by FactSet had forecast earnings of 27 cents per share.
Revenue climbed 15 percent from last year to $124.2 million to match analyst projections.
The results are unlikely to attract much attention among investors because Blackboard recently announced it’s being bought by an investment group led by Providence Equity Partners for $1.64 billion, or $45 per share. The deal is expected to close during the final three months of the year.
Blackboard’s shares rose 35 cents to $43.49 in Wednesday’s extended trading.