Sales growth continues at Craneware

19th Jul 2011 07:52

Scotland-based software developer Craneware said revenue for the year ended 30 June 2011 is expected to have grown by 34% from $28.4m in 2010. The group, which provides revenue calculating software to US hospitals, said it is trading in line with company forecasts as it closed the year on strong footing. Adjusted profit, before share based payments, depreciation, amortisation and transaction related costs, is expected to show growth of approximately 30% from $7.6m in 2010. The company's visibility of revenue for the next three-year period has risen from $83m at 30th June 2010 to $105m at 30th June 2011. The results include the first contribution from ClaimTrust, bought in February 2011. Craneware also announced it has signed two significant sales to US multi-hospital groups in June 2011. CEO Keith Neilson commented, "We are delighted to have closed the year in such a positive manner, securing strong competitive wins with two large multi-hospital groups. With the first fines from the US government's Recovery Audit Contractor programme now starting to come into effect, the drivers for our business continue to grow and we look to the future with confidence." ---CJ