LONDON (ShareCast) - Craneware warned that revenues and earnings for the year will be in line or marginally ahead of last year but below current market forecasts.

The Scotland-based firm, which provides revenue assessing software to US hospitals, said it continues to see increased levels of sales activity and conversion of its growing sales pipeline into revenue in our underlying small and medium sized hospital business.

It added that progress also continues to be made with a significant number of large sales opportunities.

"It has not, however, been possible to sign one of these large deals in this period due mainly to corporate activity within this customer base. Management expects that the likelihood of one of these deals closing before the end of the financial year is now low," it explained.

In the past, at least one of these large sales deals has contributed to revenue growth in any individual year, as was the case in 2012, it said.

"As such, without the contribution from new large deals and with the final month of the financial year still to complete, the board expects to report revenue for the year in a range of $41m to $42m and adjusted EBITDA in a range of $11.9m to $12.6m, both in line or marginally ahead of the prior year but below current market expectations."

Shares of Craneware fell 48.5p to 327.5p at 08:50 in London.





CJ

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