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Interim Results

26 February 2008 – Craneware plc, (AIM: CRW) a leader in revenue cycle management software solutions for the US healthcare market, is pleased to announce interim results for the half year ended 31 December 2007.

Highlights

  • Revenues increased by 24% to $8.7m (H107: $7.0m)
  • Profit before share based payments, depreciation and amortisation increased 21% to $2.0m (H107: $1.68m)
  • Basic EPS of $0.064 (H107: $0.026)
  • Successful Placing and IPO on AIM in September 2007 raising £5.4 million prior to expenses to fund continued expansion into the US healthcare market
  • 96 new hospitals added in the half, bringing total number to 878
  • Flagship product, Chargemaster Toolkit®, was also once again named top in its class by the prestigious industry research house KLAS in the US
  • Launch of Patient Charge Estimator™ and Pharmacy ChargeLink®

Keith Neilson, CEO of Craneware commented:

“We are very pleased with the performance of the Company having successfully executed on our plan and positioned ourselves well for future growth. We have attained, and maintained, a number one position in the market, significantly grown our customer base and delivered new products into the market. These are being well received and the broadening of the product range coupled with our improved sales execution means we are expanding our footprint within each customer and across the market as a whole. Recent legislative changes have and will continue to work in our favour. Our pipeline is strong and we are therefore confident of a successful outcome for the year.”

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
  • Oliver Scott
  • Nicholas Marren

Newgate Threadneedle

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

About Craneware

Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta and Arizona, employing over 200 staff. Craneware is the leader in automated revenue integrity solutions that improve financial performance and mitigate risk for healthcare organisations. Craneware’s market-driven, annuity SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. These optimise reimbursement, increase operational efficiency and minimize compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.