Craneware plc Trading Update (2877M)
15 Luglio 2014 - 8:00AM
UK Regulatory
TIDMCRW
RNS Number : 2877M
Craneware plc
15 July 2014
Craneware plc
("Craneware", "the Group" or the "Company")
Trading Update and Notice of Results
15 July 2014 - Craneware (AIM: CRW.L), the market leader in
automated revenue integrity solutions for the US healthcare market,
provides an update on trading for the year ended 30 June 2014.
The Board is pleased to confirm the increased sales activity
reported earlier in the year has delivered a record sales
performance for the Group with the total value of contracts signed
in the year increasing to over $70m (FY13: $38.5m), an increase in
excess of 80% on the prior year.
In accordance with the Group's revenue recognition policy, which
is focussed on long term sustainable growth and mitigates against
year on year fluctuations in the total value of contracts signed,
the vast majority of the revenue from these sales has not been
recognised in the year to 30 June 2014, and will instead benefit
future years. Accordingly the Group expects to report revenues in a
range of $42.2m to $43m (FY13: $41.5m) and deliver an adjusted
EBITDA in a range of $12.8m to $13.2m (FY13: $12.4m).
The market for revenue integrity solutions continues to develop
with larger and more complex hospital systems becoming an
increasing part of both current year sales and the pipeline of
sales opportunities. We continue to invest in our sales
organisation to ensure we are optimally positioned to take
advantage of this growing market opportunity. Management believes
as the fiscal and regulatory pressures on US hospitals continue to
grow, the strength and relevance of our unique suite of solutions
will increase in this market environment, giving us confidence in
continued future growth.
Keith Neilson, CEO of Craneware plc commented, "We are delighted
to announce a record sales year for the Group, with a year on year
increase of over 80% in the total value of contracts signed in the
year, demonstrating the ongoing strength of our market position.
The current sales success gives Craneware certainty over contracted
revenue and associated profits upon which to build future
growth."
The Company will announce its Full Year Results on 16(th)
September 2014.
For further information, please contact:
Craneware plc Peel Hunt Newgate Threadneedle
+44 (0)131 550 3100 +44 (0)20 7418 8900 +44 (0)20 7653 9850
Keith Neilson, CEO Dan Webster Caroline Forde
Craig Preston, CFO Richard Kauffer Fiona Conroy
Heather Armstrong
About Craneware
Founded in 1999, Craneware has headquarters in Edinburgh,
Scotland with offices in Atlanta, Arizona, Massachusetts and
Tennessee employing over 200 staff. Craneware is the leader in
automated revenue integrity solutions that improve financial
performance for healthcare organisations. 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 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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