Craneware plc Trading Update (0741C)
January 14 2015 - 2:00AM
UK Regulatory
TIDMCRW
RNS Number : 0741C
Craneware plc
14 January 2015
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 +44 (0)20 7418
3100 8900 +44 (0)20 7653 9850
Keith Neilson, Dan Webster Tim Thompson
CEO
Craig Preston, Richard Kauffer Heather Armstrong
CFO 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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