Last checked at 16 Jan 2014 07:00
Craneware plc
("Craneware", "the Group" or the "Company")
Trading Update and Notice of Results
16 January 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 six months ended 31 December 2013.
The Group has continued to see positive momentum in sales through the period, driven by a strengthened sales operation and supportive market environment. The majority of revenue and margin resulting from sales in the period will be recognised over future periods as per the Company's normal revenue recognition policy, adding to the Group's long term visibility of revenue under contract.
The Company expects to report recognised revenue and EBITDA increases of 5% for the six months ended 31 December 2013 compared with the same period last fiscal year. This is in line with management's expectations for the H1 to H2 split, which, together with the continuing positive sales momentum, provides the board with confidence in meeting market expectations for the full year.
Keith Neilson, CEO of Craneware plc commented, "The continued incremental increases in the size of hospital groups, overall deal size and increasing number of longer term contracts signed during the period provided a strong sales performance and resulted in recognised revenue and EBITDA growth. Importantly, the increased sales activity will flow through into revenue and EBITDA contribution in the second half of the year and beyond, providing further visibility over future contracted revenues and supporting continued growth."
The Company will announce its Interim Results on 11 March 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 Evans-Jones |
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.