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Last Modified: 6 September 2010

The following information is disclosed in accordance with Rule 26 of the AIM Rules (Sept. 2007).

"Whilst this has been a record year for sales, perhaps more significant has been the investment we have made in the business over the year. We have increased our sales team, expanded our network of alliances and enhanced our product set and customer offering.

"The U.S. healthcare industry is starting to debate the early effects of the reforms which were outlined in January 2010 and will gradually be introduced over the next eight years, meaning the drivers for growth in coming years could be yet higher than those which we have experienced this year. Our focus on the mitigation of risk for our customers, and the delivery of financial and operational efficiencies means we are extremely well positioned to benefit from the unprecedented changes we expect to see in healthcare in the U.S., no matter the final form of healthcare reform.

"These factors, plus the $89.8m of revenues we currently have under contract for future years gives us high levels of confidence in our success in the years ahead. With industry leading product sets and an enviable customer base our focus now will be on achieving operational excellence and providing the next generation of solutions to help with the challenges of healthcare reform that face our customers."

—Keith Neilson, CEO of Craneware  - 6 September 2010


Financial Highlights

  • Record levels of contracted sales in the year totalling $58.1m (2009: $43.2m), 34% up on the previous year, contributing to:
    • 23% increase in revenues to $28.4m (2009: $23.0m)
    • 49% increase in future revenues under contract to $89.8m (2009: $60.1m)
  • EBITDA1 increased 31% to $7.6m (2009: $5.8m)
  • Profit before taxation increased by 24% to $7.3m (2009: $5.9m)
  • Cash position increased 13% to $29.4m after paying dividends of $3m in year (2009: $26.1m)
  • Basic EPS increased to $0.22 (2009: $0.18) and diluted to $0.21 (2009: $0.17)
  • Final dividend proposed of 3.3p (4.94 cents) per share giving a total dividend for the year of 8.0p (11.99 cents) per share (2009: 4.7p (7.43 cents) per share

Quick Facts—Financial

  • 34% — Increase in contracted sales in the year to record $58.1m
  • 49% — Increase in future revenues under contract
  • 23% — Increase in revenues to $28.4m
  • 31% — Increase in EBITDA1 to $7.6m
  • 24% — Increase in profit before tax to $7.3m
  • 13% — Increase in cash to $29.4m

Operational Highlights

  • Launch and first sales of fifth product, Supplies ChargeLink™.
  • Significant investment in sales and marketing capacity during the year.
  • Strengthened market position through signing in the year of two significant partnerships with Premier Healthcare Alliance and McKesson Corporation.
  • Signing of several major multi-site contracts, including with Intermountain Healthcare, described by President Obama and other U.S. leaders as 'a model for the rest of the nation.'
 

EBITDA refers to earnings before interest, tax, depreciation, amortisation and share based payments

 

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