Blackboard’s (News - Alert) financial results for the second quarter ended June 30, 2010 show that total revenue was $107.7 million, an increase of 17 percent over the second quarter of 2009.

Product revenues for the quarter were $97.5 million, an increase of 17 percent over the second quarter of 2009, while professional services revenues for the quarter were $10.3 million, an increase of 17 percent over the second quarter of 2009. GAAP net income was $4.4 million.

"I am pleased that once again we have delivered strong financial results including solid revenue and earnings growth," said Michael Chasen (News - Alert), chief executive officer and president of Blackboard. "With our range of products and services, including new technologies from the acquisitions of Elluminate and Wimba, we are well positioned to continue to meet the expanding needs of the global education market."

Blackboard's also had new and expanded client relationships in the quarter.

During the quarter, Blackboard launched Blackboard Mobile, Learn for Android, BlackBerry, iPad and iPhone (News - Alert) OS powered devices that give millions of students instant access to their course information directly from their smartphones. This new application recreates the course experience of Blackboard Learn, a leading online teaching and learning platform, and lets students check grades and assignments, add discussion board comments and blog posts, email instructors and classmates and much more.

Blackboard announced a major update for its flagship software with the launch of Blackboard Learn, Release 9.1, which integrates a range of social learning tools and drives student engagement. The release also introduces important new features for K-12 teachers and learners, including lesson planning and standards alignment.

Blackboard earned one of the software industry's top honors when its online learning platform was recently named Best Course Management Solution in the Software & Information Industry Association's (SIIA) 2010 CODiE Awards.

The Ohio Board of Regents selected Blackboard to help develop the plan for establishing a new, statewide digital learning clearinghouse to help increase the number of Ohio students that attend and graduate from college and, in turn, strengthen the state's overall workforce and economy.

In addition, Blackboard closed the acquisitions of Elluminate, Inc. and Wimba, Inc., two of the leading providers of synchronous learning and collaboration technology to the education markets, for a total of approximately $120 million in cash, excluding transaction costs.