Source - SMW
Craneware reports its third consecutive year of record sales performance and a return to double digit growth in revenue and adjusted EBITDA.

Revenue for the year to the end of June increased 11% to $49.8m (FY15: $44.8m) and adjusted EBITDA  rose by 10% to $15.9m.

Profit before tax increased by 10% to $13.9m (FY15: $12.5m).

Basic adjusted EPS increased 13% to $0.429 (FY15: $0.378) and adjusted diluted EPS has increased to $0.423 (FY15: $0.375).

Continued operating cash conversion above 100% of Adjusted EBITDA Cash at year-end of $48.8m (FY15: $41.8m) after payment of $6m dividend to shareholders.

Proposed final dividend of 9p (12 cents) per share giving a total dividend for the year of 16.5p (22 cents) per share (FY15: 14p (22 cents) per share).

Chief executive Keith Neilson said:  "Craneware is in a stronger position than ever and we are passionate about the opportunity ahead.  The double digit growth in our reported revenue and adjusted EBITDA are only beginning to reflect the record levels of sales which began three years ago. 

"Importantly, the investment we are making in our product suite mean our market opportunity is now several times larger than it was when we joined AIM in 2007.

"The market continues to evolve as we anticipated. US healthcare providers are seeking the solutions to address the challenges the new value based re-imbursement environment brings to them. 

"We believe the investment we are making to expand the products in our Value Cycle suite addresses these challenges and we are now recognised beyond our original niche within the revenue cycle as a more strategic provider within a hospital's financial operations and their value cycle. 

"We are confident that the ongoing investment we are making, combined with our continuing sales successes, mean we are well positioned to deliver continued future growth as well as increasing stakeholder value."

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