After issuing a profit warning earlier this summer, Craneware, which specialises in software for hospitals, yesterday announced a 1% rise in revenue to $41.5m for the year to June 30 and said that a restructuring should help it target business from larger customers.
Chief executive Keith Neilson said: "It has been quite a solid set of results. I think we are in a good place for growing."
The US healthcare market is in flux, with larger groups buying up both independent hospitals and each other as regulation of the sector is toughened up.
Mr Neilson insisted that Craneware typically does well in these transactions, seeing its software adopted across enlarged groups.
He put the profit fall down to a failure to secure the usual one or two large contract wins that Craneware records in most years.
"If you strip out the large hospitals (contract wins) for last year, you see good and strong underlying growth in the business," he said.
Trading is more stable at the small to medium-sized end of the hospital market, Craneware indicated.
Mr Neilson said a restructuring at Craneware, including the recruitment of Mark Montgomery formerly of Experian Healthcare as its chief marketing officer, is intended to help it build relationships below chief executive level at its target market.
Company chiefs will continue to be targeted by Mr Neilson and other senior colleagues.
Mr Montgomery's role extends to product management and corporate development.
He will therefore play a part in Craneware's renewed interest in acquisitions.
"There are some opportunities that are potentially there and at the same time we have seen a little bit of a market change where some of the softening we had last year is coming through and is affecting other companies more negatively," Mr Neilson said.
He told analysts that depressed valuations for smaller, less financially stable healthcare information technology providers gave it the chance to expand Craneware's market reach or its product portfolio.
"There has been more activity in the marketplace," Mr Neilson said. "But there is nothing imminent from us."
Craneware has not made an acquisition since 2011.
Mr Neilson said: "Overall group revenue reported in the year was marginally ahead of that of last year, masking the steady growth through the year in sales to individual hospitals, which was very encouraging and a reflection of the more stable trading environment.
"The strengthening of sales activity has continued and trading in the first few months of the new financial year has been healthy.
"We are confident Craneware has the platform to deliver increased shareholder value in the years ahead."
Craneware employs around 200 people, including some 90 in Scotland.
But Mr Neilson indicated it is finding recruitment a challenge.
"Edinburgh is a tight market for technology staff. We are looking for people and want to expand there but it is a tight market," he said.
Debt-free Craneware finished the year with $30.3m of cash, up from $28.8m last year, after paying out $4.7m in dividends.
It has proposed a final dividend of 6.3p to be paid on December 13. This takes the total for the year to 11.5p, up 1p on the previous year.
Having traded flat for most of the day, Craneware shares had a late dip, closing down 13.5p or 3.3% at 395p.