ATLANTA, Sept. 5, 2012 /PRNewswire/ -- Craneware plc (AIM:
CRW.L), the market leader in automated revenue integrity solutions
for the U.S. healthcare market, today announced its financial
results for fiscal year 2012.
Financial Highlights for the Year Ending June 30, 2012 include (all figures in U.S.
dollars):
- Continued revenue and profit growth:
- Revenue increased 8% to $41.1m
(2011: $38.1m)
- Adjusted EBITDA1 increased 18% to $11.9m (2011: $10.1m)
- Adjusted profit before taxation increased 16% to $10.8m (2011: $9.3m)
- Profit before tax increased 29% to $11.2m (2011: $8.7m)
- Basic adjusted EPS increased 23% to 31.6
cents (2011: 25.6 cents)
- Basic EPS increased 43% to 33.0
cents (2011: 23.1 cents)
- Positive operational cash flow of $10.6m (2011: $10.1m)
- Cash at year end $28.8m (2011:
$24.2m) after returning $4.1m to shareholders by way of dividends
- Proposed final dividend of 5.7p (8.9
cents) per share giving total dividend for the year of 10.5p
(16.4 cents) per share (2011: 8.8p
(14.2 cents) per share)
1. Adjusted EBITDA refers to earnings
before interest, tax, depreciation, amortisation, share based
payments, released deferred consideration and transaction related
costs
Operational Highlights for FY2012 include:
- Extension of market reach through two significant client deals
signed in the year, one providing entry into the federal and state
healthcare market and the other taking Craneware's software into a
non-competitive parallel market
- Increased sales activity in the second half of the year in core
market
- Increasing pressure being placed on hospitals by Medicare
Recovery Auditors (formerly known as the RAC program)
- Craneware InSight fully integrated as at 1st
July 2012, first cross-sales
delivered
- Renewal levels strong at over 100% of dollar value
- Entered 2013 with revenue visibility back at historically high
levels
"In a mixed trading environment Craneware delivered a solid
level of growth across key financial and operational metrics,
confirming the health of the business and giving a high degree of
confidence for the future," said Keith
Neilson, CEO of Craneware. "Added pressures on U.S.
hospitals have led to an increased sales and opportunity pipeline
for our products as we move into the current financial year.
Craneware's solutions help U.S. healthcare providers drive business
improvements that will result in better financial health. In this
turbulent, demanding environment, hospitals need financial
accuracy, visibility and shared accountability to survive. Fiscal
and regulatory drivers are expected to increase in the year ahead
as they push for greater transparency and accuracy, and although
this creates a challenging, ever-evolving marketplace, it
ultimately increases the opportunities for Craneware's
solutions."
"Craneware is a trusted and established part of the fabric of
the U.S. healthcare industry, with a client base consisting of
around a quarter of all U.S. hospitals. We are confident that the
business is ideally placed with its in-house expertise,
industry-leading product suite and balance sheet strength to help
U.S. healthcare organizations deal with their increasing fiscal and
regulatory pressures. Furthermore, with revenue visibility having
returned to the historic high levels, we view the future with
confidence," Neilson concluded.
About Craneware
Craneware (AIM: CRW.L) is the leader in automated revenue
integrity solutions that improve financial performance for
healthcare organizations. Craneware's market-driven, SaaS solutions
help hospitals and other healthcare providers more effectively
price, charge, code and retain earned revenue for patient care
services and supplies. This optimizes reimbursement, increases
operational efficiency and minimizes compliance risk. By partnering
with Craneware, clients achieve the visibility required to
identify, address and prevent revenue leakage. To learn more, visit
craneware.com and stoptheleakage.com.
To see the full announcement please go to the investor section
of the craneware.com website.
SOURCE Craneware