StockMarketWire.com - Shares of Craneware soared Tuesday after the company said it expects a record annual sales performance and a double-digit increase in both revenue and earnings compared to the prior year. The company also announced a significant new contract was signed at the end of the year.
New sales growth for the year increased by approximately 100%, while revenue and adjusted earnings (EBITDA) for the year ended 30 June 2018, is expected to have increased 16% and 20%, respectively, from the previous year.
Craneware had signed a 'significant' new contract, with a large hospital network in the Eastern US, for its 'Pharmacy ChargeLink' solution, the company said.
This contract is expected to deliver in excess of $6m of revenue over its initial five year term. Craneware's solution would be rolled out to the 12 facilities across the network.
'These record results demonstrate the ongoing momentum we are seeing across all strata of hospitals including large and complex health systems as they embrace the realities of value-based economics within healthcare,' said Keith Neilson, CEO of Craneware.
At 9:29am: [LON:CRW] Craneware PLC share price was +260p at 2395p
Story provided by StockMarketWire.com
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