Craneware Shares Plunge Over 20% Following Full-Year Profit Warning

Key Facts

1Craneware shares dropped by more than 20% after warning that full-year results would fall short of market expectations.

2The company attributed the shortfall to slower conversion of drug-pricing program opportunities and the shifting of large contracts into the next financial year.

Craneware shares dropped by more than 20% after the company warned that its full-year financial results would fall short of market expectations. Reuters reported that the healthcare technology firm issued the guidance update following a significant slowdown in its sales pipeline.

The company attributed the shortfall to the slower conversion of drug-pricing program opportunities and the shifting of several large contracts into the next financial year. Management indicated that revenue and adjusted earnings are now expected to be broadly flat year-over-year due to these delays.