CRW Craneware Plc

 

TIDMCRW 
 
RNS Number : 2818P 
Craneware plc 
14 July 2010 
 

                                  Craneware plc 
                         ("Craneware" or the "Company") 
 
                                 Trading Update 
 
14 July 2010 - Craneware plc (AIM: CRW.L), the market leader in automated 
revenue integrity solutions for the US healthcare market, is pleased to give an 
update on trading for the year ended 30 June 2010. 
 
Record Sales Year 
 
Craneware continued to grow strongly during the year and expects to report 
results for the year ended 30 June 2010 in line with management expectations. 
The total value of contracts signed during the year will be the highest in the 
Company's history, increasing by over 25% against the prior year (2009 $43.2m). 
This growth is driven by the Company's increased product range and strengthening 
of its partner relationships, supported by favourable conditions in the US 
healthcare market.  The majority of this revenue will, however, be recognised in 
future periods in accordance with the Company's annuity revenue model, adding to 
its already high visibility of future revenues. 
 
Craneware will be announcing final results on Monday 6th September 2010. 
 
Keith Neilson, CEO of Craneware commented, "This has been another strong year 
for Craneware, in which we have once again delivered high levels of sales 
growth. The ongoing healthcare reforms in the US have increased the need for our 
financial performance and risk mitigation solutions and we have continued to 
successfully execute on our strategy. These factors have resulted in another 
record year in terms of the total value of contracts signed during the period, 
increasing our high levels of visibility for future years and giving us a great 
platform on which to continue to grow. We therefore continue to be very 
confident regarding the future for Craneware and look forward to giving a full 
update at the time of our final results in September." 
 
 
For further information, please contact: 
 
+--------------------+-----------------+-----------------------+ 
| Craneware plc      | KBC Peel Hunt   | Threadneedle          | 
|                    |                 | Communications        | 
+--------------------+-----------------+-----------------------+ 
| +44 (0)1506 407    | +44 (0)20 7418  | +44 (0) 20 7653 9850  | 
| 666                | 8900            |                       | 
+--------------------+-----------------+-----------------------+ 
| Keith Neilson, CEO | Jonathan Marren | Caroline Evans-Jones  | 
|                    |                 |                       | 
+--------------------+-----------------+-----------------------+ 
| Craig Preston, CFO | Richard Kauffer | Fiona Conroy          | 
+--------------------+-----------------+-----------------------+ 
|                    | Dan Webster     |                       | 
+--------------------+-----------------+-----------------------+ 
 
About Craneware 
 
Founded in 1999, Craneware has headquarters in Livingston, Scotland with offices 
in Atlanta, Florida, Arizona and Kansas, employing over 130 staff. Craneware is 
the leader in automated revenue integrity solutions that improve financial 
performance and mitigate risk for healthcare organisations. Craneware's 
market-driven, SaaS solutions help hospitals and other healthcare providers more 
effectively price, charge and code for services and supplies associated with 
patient care. This optimises reimbursement, increases operational efficiency and 
minimises compliance risk. By partnering with Craneware, clients achieve the 
visibility required to identify, address and prevent revenue leakage. To learn 
more, visit craneware.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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