ATLANTA, Sept. 11, 2013 /PRNewswire/ -- Craneware
(AIM: CRW.L), the leader in automated revenue integrity solutions
for the U.S. healthcare market, today announced financial results
for its fiscal year 2013 that ended June 30,
2013.
(Logo: http://photos.prnewswire.com/prnh/20121221/CL33999LOGO
)
Financial Highlights (U.S. dollars)
- Revenue increased 1% to $41.5m
(2012: $41.1m)
- Adjusted EBITDA1 increased 4% to $12.4m (2012: $11.9m)
- Adjusted profit before taxation increased 4% to $11.2m (2012: $10.8m)
- Profit before tax decreased 5% to $10.6m (2012: $11.2m)
- Basic adjusted EPS increased 4% to 32.9
cents (2012: 31.6 cents),
basic EPS decreased 7% to 30.7 cents
(2012: 33.0 cents)
- Cash at year end $30.3m (2012:
$28.8m) after returning $4.7m to shareholders by way of dividends
- Proposed final dividend of 6.3p (9.6
cents) per share giving total dividend for the year of 11.5p
(17.4 cents) (2012: 10.5p
/15.9 cents per share)
1. Adjusted EBITDA refers to earnings
before interest, tax, depreciation, amortization, share based
payments, released deferred consideration and transaction related
costs
Operational Highlights
- Underlying growth in sales to individual hospitals and small
hospital groups
- Exited the year with significantly higher sales run rate than
at the start
- Renewal rates over 100% of dollar value
- Products achieved top rankings in their divisions of the KLAS
industry awards
- Hospitals continue to face growing financial and administrative
pressure including increased audit activity and significant
backlogs in the appeal process
- Key appointments increase bandwidth of senior management
team
"Overall Group revenue reported in the year was marginally ahead
of that of last year, masking the steady growth through the year in
sales to individual hospitals, which was very encouraging and a
reflection of the more stable trading environment," said Craneware
CEO, Keith Neilson. "The
strengthening of sales activity has continued and trading in the
first few months of the new financial year has been healthy. With a
product suite that addresses many of the fundamental financial
issues besetting healthcare providers in the U.S., an invigorated
sales team and a more stable trading environment, we are confident
Craneware has the platform to deliver increased shareholder value
in the years ahead."
To see the full announcement, please go to the
investor section of the craneware.com website.
About Craneware
Craneware (AIM: CRW.L) is the leader
in automated revenue integrity solutions that improve financial
performance for healthcare organizations. 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 helps
customers optimize reimbursement, increase operational efficiency,
minimize compliance risk, and retain more earned revenue. By
partnering with Craneware, clients achieve the visibility required
to identify, address and prevent revenue leakage. To learn more,
visit craneware.com and stoptheleakage.com.
*Chargemaster Toolkit® is ranked No. 1 in the Revenue
Cycle – Chargemaster Management market category for the seventh
year in a row (2006 – 2012), and Bill Analyzer is ranked No. 1 in
the Revenue Cycle – Other market category the second year in a row
(2011 – 2012 ) in the "2012 Best in KLAS Awards: Software &
Services" report, published December
2012. Data © 2012 KLAS Enterprises, LLC. All rights
reserved. www.KLASresearch.com
SOURCE Craneware