Bottomline net skyrockets in 4Q

Bottomline Technologies Inc. posted $30.1 million in net income in the last quarter of its fiscal year — $29 million more than it made in the same quarter a year ago — thanks to one heck of a tax benefit.Still, no matter how you measure them, the Portsmouth-based financial software company’s top and bottom lines improved.Even without the non-cash tax benefit of $27.4 million, arising from the valuation allowance on its U.S.-based deferred tax assets, the company would have made $2.6 million, which is still more than double the 2010 earnings. And when it comes to core income – which doesn’t include all sorts of variables that basic accounting principles require, the company made $9.9 million.The last quarter brings the company’s net income to $35.9 million for the fiscal 2011 ($1.07 a diluted share), compared to $4 million in fiscal 2010,On the revenue side, the company pulled in $54.2 million for the quarter, a 31 percent increase. The big jump was in subscriptions and transactions, which accounted for $17.1 million, almost a third of the revenue — a 44 percent increase.Revenue for fiscal 2011 was $189.4 million — more than $30 million more than the previous year.One reason behind the growth was the acquisition of Allegiant Systems, a deal that closed in the fourth quarter. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW