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Final Results

8 September 2015 – Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, announces its results for the year ended 30 June 2015.

Financial Highlights (US dollars)

  • Total Contract Value in the year continues at record levels of $72.9m (FY14: $71.0m)
  • Revenue increased to $44.8m (FY14: $42.6m)
  • Adjusted EBITDA1. increased by 10% to $14.4m (FY14: $13.1m)
  • Profit before tax increased to $12.5m (FY14: $11.3m)
  • Basic adjusted EPS increased to $0.378 (FY14: $0.340) and adjusted diluted EPS has increased to $0.375 (FY14: $0.338)
  • Positive operational cash flow of $22.0m (FY14: $10.2m)
  • Cash at year end $41.8m (2014: $32.6m) after payment of $5.4m dividend to shareholders
  • Proposed final dividend of 7.7p (12.1 cents) per share giving a total dividend for the year of 14.0p (22.0 cents) per share (2014: 12.5p (21.37 cents) per share)

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

Operational Highlights

  • US healthcare market evolving as predicted towards value-based care with a critical dependency on accurate financial data
  • Launch of Craneware’s Value Cycle strategy at HFMA ANI 2015
  • Continued investment in the product suite and the development of a new fourth Gateway product in the Patient Access and consumerism market
  • Data Analytics capability added through partnership
  • Dollar renewal rates above 100%
  • Total visible revenue increased to $123.4m (FY14 same 3 year period: $111.9m)

Keith Neilson, CEO of Craneware plc commented, “This year has seen Craneware continue its record level of sales, but perhaps more importantly has seen the anticipated emergence of a high growth financial analytics and performance market. Major changes in reimbursement and care delivery models have made understanding and reducing the cost of care mission-critical for every healthcare provider in the US. As we expand our offerings into this value-driven healthcare market and pioneer the Value Cycle, we are confident that our position as a trusted financial performance partner will strengthen. This provides a significant opportunity for the expansion of Craneware. This opportunity combined with the business’ financial strength means we look to the future with confidence.”

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

Alma

  • +44 (0)7515 805 218
  • Hilary Buchanan
  • Josh Royston

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.