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Craneware Announces Half-Year Results
Date:2/25/2009

Record 69% growth in sales in the first half of Craneware's 10th Anniversary Year

ATLANTA, Feb. 25 /PRNewswire/ -- Craneware (AIM: CRW.L), a leading provider of financial performance improvement software for hospitals and health systems, is pleased to announce its interim results for the half year ended December 31, 2008.

Highlights

  • Total of $21.8m in contracts booked in the half (H108: $12.9m) contributing to:
    • 28% increase in future revenues under contract to $51.1m (FY08: $39.9m)
    • 22% increase in revenues in the period to $10.6m (H108: $8.7m)

  • Profit before taxation increased by 59% to $2.6m (H108: $1.6m)

  • Strong balance sheet with $20.8m cash

  • Basic EPS increased to $0.078 (H108: $0.064)

  • Newly launched Patient Charge Estimator(TM) and Pharmacy ChargeLink(TM) delivering significant ROI to initial customers

  • Accelerated investment in product management and marketing

  • Increasing fiscal and legislative pressures driving market opportunity

Craneware CEO Keith Neilson commented, "Entering our 10th year of trading, these results highlight the growing maturity of Craneware and the increasingly robust nature of the business model. With a broadening product set and rapidly increasing revenue visibility, we not only have a high level of predictability over future performance, but are also extremely well-positioned for future growth and further expansion of our market footprint. The market continues to look strong with legislative changes expected to work in our favor, resulting in our confidence in a successful outcome for the current year and beyond."

About Craneware

Craneware partners with healthcare organizations to improve returns, increase productivity and manage risk, driving better financial and operational performance using market-driven revenue management solutions. By enhancing revenue capture processes, Craneware solutions allow those organizations to optimize reimbursement, improve operational efficiency, and support compliance. Visit www.craneware.com

A full copy of the Company's Interim Results can be found on Craneware's Web site at www.craneware.com. In the Investors area of the Web site, click on Financial Reports.

This document does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful.


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SOURCE Craneware
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