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Craneware InSight Contract Win 2 June 2011 - Craneware plc (AIM: CRW.L; OTC: CRWRY), the market leader in automated revenue integrity solutions for the US healthcare market, is pleased to announce a new multi-year agreement with Kingman Regional Medical Center, a 235-bed non-profit medical center in Kingman, AZ. Recognised as one of the nation's five star hospitals in community value, Kingman Regional Medical Center will add Craneware InSight Denials® to the range of Craneware Revenue Integrity Solutions™ the organisation already uses to support optimal financial performance. Craneware InSight Denials is one of the new Craneware InSight solutions recently added to the Craneware suite of revenue integrity offerings through the Company's acquisition of ClaimTrust, Inc. of Murfreesboro, TN. With the addition of the InSight product line, Craneware provides the industry's most effective revenue integrity solutions.
http://www.investegate.co.uk/Article.aspx?id=201106020700147171H
Further evidence of confidence here Director & PDMR Shareholding 2 March 2011 - Craneware plc (AIM: CRW.L; OTC: CRWRY), the market leader in automated revenue integrity solutions for the US healthcare market, has been informed that the two co-founders of the business, Keith Neilson, Chief Executive Officer, and Gordon Craig, CTO and recently appointed President of Craneware US operations, each purchased yesterday 3,525 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 564.75 pence per share. Following these transactions, Mr. Neilson has a total holding in the Company of 3,428,779 Ordinary Shares, which represents 12.95% of the total issued share capital, and Mr. Craig has a total holding in the Company of 3,153,151 Ordinary Shares, which represents 11.91% of the total issued share capital. Further to the Additional Listing announcement yesterday, it should be noted that the denominator for these calculations includes the 509,097 new ordinary shares which were allotted yesterday to certain of the ClaimTrust, Inc. ("ClaimTrust") vendors, as part of the initial consideration for the acquisition of ClaimTrust. These shares are subject to a twelve month lock-in once they are admitted on 3 March 2011.
Evolution Securities maintained its "buy" rating for Craneware (CRW), the software solutions provider for the US healthcare market, with a 675p target price. Commenting on the recent acquisition of ClaimTrust, the broker believes the deal looks strategically "very sensible", and has subsequently upgraded its 2012 earnings per share forecast by 11%. This, along with strong earnings reported in interims, has brought the group's calendarised 2012 earnings multiple down, the broker added, with the stock now trading at a 10% discount to Evolution's US healthcare technology peer group. Despite the bullish note Craneware shares fell 14p to 565p.
Strong sales pipeline for Craneware Date: Monday 28 Feb 2011 LONDON (ShareCast) - Scotland-based Craneware, which provides revenue assessing software to US hospitals, continues its impressive growth in the six months to December 2010. AIM-quoted Craneware increased its rate of growth in the first half and continued to generate cash. Revenues grew by one-quarter to $16.6m with pre-tax profit 31% higher at $4.3m. Newer products are generating the majority of revenues. Net cash was $31.2m at the end of 2010. Craneware paid an initial $15m for ClaimTrust, which supplies audit and revenue recovery software. The maximum consideration could be $19.5m. More than two-thirds of ClaimTrust’s $8.5m of annual revenues are recurring. There is still uncertainty about the US healthcare sector but this does not seem to be hampering Craneware. Hospitals still want to make sure that they are claiming all the revenue that they are entitled to and Craneware says that its sales pipeline has never been stronger. There is still plenty of scope for cross-selling to a customer base of 1,500 hospitals. Fewer than two-fifths of customers take two or more software products. The revenue under contract is $87.9m, which stretches out over 10 years. That figure is 22% higher than 12 months ago and does not include any contribution from ClaimTrust. Craneware is rebasing its dividend payments. It paid a total of 8p a share in 2009-10. The latest interim has been cut from 4.7p a share to 4p a share but the total dividend for 2010-11 will be higher. House broker Peel Hunt forecasts a dividend of 8.8p a share for 2010-11. Peel Hunt forecasts a rise in full year profit from $7.4m to $9.6m.
maytheforcework - and that move back up may well start today with these results!
Keith Neilson, CEO of Craneware commented: "We have recorded a strong start to the year, delivering growth throughout our business. The market drivers for Craneware remain positive and we have seen an increase in our average annualised hospital value due to a larger percentage of cross- sell of our enlarged product set, pointing to the success of our newly launched products and investment in our Client Sales Teams. The robustness of our business model, and its relative immunity to sales mix and contract renewal timing, continues to deliver high quality visibility of our results. "Debate continues regarding the shape of healthcare reform in the US, but we believe that no matter what the final form, the drivers for Craneware's products will be strong. The US has an ever-growing hospital population looking for greater levels of healthcare at a time when overall healthcare costs need to be managed. This will continue to drive hospitals to seek greater efficiencies and endeavour to recover all the revenue to which they are entitled. We are committed to supporting them in achieving this and believe our ability to do so has been strengthened yet further post period end through the acquisition of ClaimTrust. "These factors, combined with the strong visibility over revenues in the coming period and nearly $90 million of revenue which we have under contract for future years, mean we continue to be extremely positive regarding the outcome for the year and the future growth prospects for Craneware."
Financial Highlights (US dollars) § Strong revenue and profit growth o 25% increase in revenues to $16.6m (H110: $13.3m) o EBITDA1 increased 35% to $4.6m (H110: $3.4m) o Profit before taxation increased by 31% to $4.3m (H110: $3.3m) o EBITDA1 margin increased to 28% (H110: 26%) o Basic EPS increased by 37% to $0.126 (H110: $0.092) § Cash at period end increased by 16% to $31.2m (H110: $26.9m) and from $29.4m at end June 2010 § Interim dividend of 4.0p pence per share (FY10 interim dividend 4.7p; FY10 total dividend 8.0p), re-phasing the interim and final dividend payments, total dividend for FY11 expected to be in line with stated progressive dividend policy 1. EBITDA refers to earnings before interest, tax, depreciation, amortisation and share based payments Operational Highlights § Launch and first sales of Value Based Pricing Analyzer § Strong first full year of sales of Supplies ChargeLink § Increase in average annualised hospital value § Increased product attachment rate to 1.7 (H110:1.5) § Acquisition of ClaimTrust completed post-period end; increasing market share, adding new product family and additional domain expertise
http://www.investegate.co.uk/Article.aspx?id=201102280700169271B
maytheforcework - howdy yes I see you going about lol(sorry for delay in replying!) ---to be honest I am not invested here. It is on a rather large watch list I have ! I do fancy i for a move back up though - but no spare cash so it will have to remain unloved by me just now -- perhaps when funds become available. GL
In a move to broaden and strengthen its product offering, Craneware (CRW), the provider of revenue cycle management software for healthcare, has acquired ClaimTrust, a Software-as-a-Service revenue cycle technology solutions provider, for a maximum consideration of 19.5 million dollars (12 million pounds). "The acquisition...represents an exciting step forward for Craneware by enhancing our product set, increasing our market share and adding to the profitability of the group," commented Keith Neilson, chief executive of Craneware. The acquisition is expected to be earnings enhancing in its first full financial year of ownership. The shares pushed ahead 8.5p to 581p.
I seem to be in a few of the same shares as you, as I see you on the oil ones. I took my original investment back out in these @around 620p. been in some time and collected dividends. have 500 left which is all profit. Have been thinking of moving on but this new coverage may give it another boost.I need more money as I have other plays shouting at me. Have a good 2011
Evolution Securities initiated coverage on Craneware (CRW), the proprietary revenue cycle management software solutions provider, with a "buy" recommendation and 675p target price. The broker believes the group is in a "sweet-spot of demand" for revenue integrity solutions in the US hospital market, benefiting from several regulatory catalysts, a large market opportunity and limited competition. That said, Evolution thinks the stock is highly rated by the market and trades at a substantial premium but, nevertheless, it sees continued stock price outperformance