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FY13 Half Yearly Report

26 February 2013 – Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, announces its unaudited results for the six months ended 31 December 2012

Financial Highlights (US dollars)

  • Revenue increased 7% to $20.1m (H112: $18.8m)
  • Adjusted EBITDA1 increased 15% to $5.4m (H112: $4.7m )
  • Profit before tax $4.5m (H112: $3.8m)
  • Adjusted basic EPS increased 18% to 13.2 cents per share  (H112: 11.2 cents)
  • Cash at period end $28.6m (H112: $23.6m) from $28.8m  at 30 June 2012
  • Proposed interim dividend of 5.2p (H112: 4.8p per share)

1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and transaction related costs.

Operational Highlights

  • 2012 Best in KLAS Awards: Software & Services
  • Particularly strong performance from InSight Audit
  • Supportive market environment
  • Good revenue visibility over the remainder of the year

Keith Neilson, CEO of Craneware commented:

“This has been a positive trading period for Craneware. Sales activity is ahead of the same period last year and is now starting to translate into revenue growth. The relevance of our product set continues to strengthen in the evolving healthcare landscape with the developments within the US healthcare market supportive of the Group’s long-term strategy and growth.”

For further information, please contact:

Craneware plc

  • +44 (0) 131 550 3100
  • Keith Neilson, CEO
  • Craig Preston, CFO

Peel Hunt

  • +44 (0) 20 7418 8900
  • Dan Webster
  • Richard Kauffer

Newgate Threadneedle

  • +44 (0) 20 7653 9850
  • Caroline Evans-Jones
  • Fiona Conroy
  • Heather Armstrong

About Craneware

Craneware is the leader in automated revenue integrity solutions that improve financial performance and mitigate risk for US healthcare organisations. Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Boston, Nashville and Phoenix employing more than 200 staff. 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.