Last checked at 14 Jan 2015 07:00
14 January 2015
Craneware plc
("Craneware", "the Group" or the "Company")
Trading Update
14 January 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 six months ended 31 December 2014.
The Group is pleased to announce it has seen a further 10% increase in total value of contracts signed in the six month period ended 31 December 2014 compared to the same period last year. In accordance with the Company's revenue recognition policy the majority of revenue and margin resulting from these sales will be recognised over future periods, adding to the Group's long term visibility of revenue under contract.
The Group expects to report an increase of at least 10% in adjusted EBITDA for the six months ended 31 December 2014 compared with the same period last year and a modest increase in recognised revenue, in line with management's expectations. With increased revenue recognition in the second half of the year to 30 June 2015 arising from contracted sales made in prior periods, together with continuing positive sales momentum, the Board is confident in meeting market expectations for the full year.
Keith Neilson, CEO of Craneware plc commented, "The continuation of a strong sales performance, supporting ongoing growth, that increases in future periods, gives management confidence in its ability to deliver increasing stakeholder value through this year and in the future."
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 | Tim Thompson |
Craig Preston, CFO | Richard Kauffer | Heather Armstrong Ed Treadwell
|
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.