Craneware plc Trading Update and Notice of Results (1810T)
16 Luglio 2015 - 8:00AM
UK Regulatory
TIDMCRW
RNS Number : 1810T
Craneware plc
16 July 2015
Craneware plc
("Craneware", "the Group" or the "Company")
Trading Update and Notice of Results
16 July 2015 - 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 2015.
The Board is pleased to confirm total value of contracts signed
for the year of $72.5m, building on the previous year's record
sales performance.
As the Group's revenue recognition policy retains focus 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 2015, and will instead benefit future years.
Accordingly the Group expects to report revenues in a range of
$44.5m to $45m (FY14: $42.6m) and deliver an adjusted EBITDA in a
range of $14.0m to $14.5m (FY14: $13.1m).
Other key performance indicators for the Group continue to trend
well including renewals in the year above 100% (by $ value) with
strong cash generation resulting in cash reserves in excess of $40m
at 30 June 2015 (2014 $32.6m).
Keith Neilson, CEO of Craneware plc commented, "We are delighted
with the continued level of strong sales throughout the period that
underpin the Group's financial and operational performance. We
believe this continues to demonstrate our solutions' importance in
supporting US hospitals as they transition towards value based
healthcare. Having now defined the "Value Cycle" for US Healthcare
providers, Craneware's leading position in providing solutions to
discover, convert and optimise value for them along with the
Group's ongoing financial performance, gives management confidence
in its ability to deliver continued and increasing stakeholder
value."
The Company will announce its Full Year Results on 8(th)
September 2015.
For further information, please contact:
Craneware plc Peel Hunt
+44 (0)131 550 3100 +44 (0)20 7418 8900
Keith Neilson, CEO Dan Webster
Craig Preston, CFO Richard Kauffer
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
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