Business
Trading Update and Contract W
Trading Update and Contract W.
About this update from Craneware Plc
[{"type":"text","content":"\n RNS Number : 5162L Craneware plc 13 January 2009 \n \n\nCraneware plc\n('Craneware' or the 'Company')\nH1 TRADING UPDATE AND CONTRACT WIN\n\n13 January 2009 - Craneware plc, (AIM: CRW) a leader in financial improvement software solutions for the US healthcare market, is pleased to give an update today on trading during the half year to 31 December 2008. \n\nThe Board is pleased to announce that Craneware has continued to deliver solid growth in the first half of the year and expects to report Interim results in line with management expectations.\n \nIn addition to revenue growth of circa 20%, the total value of new contracts signed has increased by over 50% as compared to the corresponding period in FY 2008. Craneware has also taken advantage of the short term benefits of the strengthening US Dollar to accelerate investment in the areas of Product Management and Marketing, whilst continuing to deliver operating profit in line with management expectations. During the half, the Company's flagship product, Chargemaster Toolkit®, was once again named top in its class by the prestigious industry research house KLAS in the US, reaffirming Craneware's market leading position.\n\nThe rollout of major contract wins secured at the end of the previous financial year are on schedule with significant ROI being found for these clients, particularly with the Pharmacy ChargeLink™ product. Whilst the Board remains conscious of the wider economic conditions, the growing financial and legislative pressures being exerted on US healthcare organisations mean Craneware has entered the second half of the year with a strong sales pipeline for Revenue Cycle products and the newer Supply Management and Strategic Pricing product families.\n\nThis together with the Company's annuity revenue model and high ongoing renewal rates, gives the Board confidence in Craneware's performance for the full year. \n\nThe Company is also pleased to announce it signed a significant contract for a 21 facility hospital system in the state of New York during the last days of the half with planned implementation throughout the remainder of FY09. The full impact of the revenue from this contract will not be seen until FY2010.\n\nCraneware will be announcing Interim results on Tuesday 24th February 2009.\n\nKeith Neilson, CEO of Craneware, comm...