StockMarketWire.com - Craneware - the market leader in automated revenue integrity solutions for the US healthcare market - reports record sales in the year to the end of June.

The group said the total value of contracts signed in the year increased to over $70m - up by more than 80% on the prior year.

Craneware says that in accordance with the group's revenue recognition policy, which is focussed on long term sustainable growth and mitigates against year on year fluctuations in the total value of contracts signed, the vast majority of the revenue from these sales has not been recognised in the year to 30 June 2014, and will instead benefit future years.

Accordingly the Group expects to report revenues in a range of $42.2m to $43m (FY13: $41.5m) and deliver an adjusted EBITDA in a range of $12.8m to $13.2m (FY13: $12.4m).

Chief executive Keith Neilson said: "We are delighted to announce a record sales year for the Group, with a year on year increase of over 80% in the total value of contracts signed in the year, demonstrating the ongoing strength of our market position. The current sales success gives Craneware certainty over contracted revenue and associated profits upon which to build future growth."

The company will announce its full year results on 16 September.




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