15th Jul 2014 08:21
LONDON (Alliance News) - Craneware PLC said Tuesday said it had seen an 80% increase in the total value of contracts signed in the year to end-June, although a majority of these sales will not be recognised in revenue for the year.
The software company expects to report revenues between USD42.4 million to USD43 million for the year, up from USD41.5 million in the previous year.
The total value of contracts signed rose to over USD70 million from USD38.5 million, although a "vast" majority of revenue from these sales will benefit future years.
Craneware said larger and more complex hospital systems are becoming an increasing part of its current year sales and its pipeline of sales opportunities. It is continuing to invest in its sales organisation to take advantage of this growing market.
It cited fiscal and regulatory pressures on US hospitals as a driver, underpinning its confidence for future growth.
"The current sales success gives Craneware certainty over contracted revenue and associated profits upon which to build future growth," said Chief Executive Keith Neilson in a statement.
Craneware will announce its full-year results September 16.
Shares in Craneware were trading down 1.7% at 521.25 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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