ClearStar, Inc. Provides Earnings Guidance for the Fiscal Year Ended December 31, 2017
January 10, 2018 at 02:00 am EST
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ClearStar, Inc. provided earnings guidance for the fiscal year ended December 31, 2017. Company expects to report revenue growth and reduced loss before tax for full year 2017 in line with market expectations. ClearStar expects to report full year 2017 revenue growth of approximately 11% year-on-year to $17.8 million against fiscal year 2016 of $16 million, in line with market expectations. Growth was driven by the company's direct services, which increased in revenue by 21% year-on-year, with sustained upscaling in the direct client base and particular demand from the transportation, on-demand labour and education sectors for background screening services: Direct sales growth was primarily due to the number of active direct client accounts increasing 18% year-on-year; The number of people screened by ClearStar for direct clients increased 26% year-on-year. Medical information services continued to serve as a key growth driver for the company, with sales increasing 20% year-on-year, and remained a large contributor to overall revenues accounting for 38%: Global services achieved strong growth, with revenue increasing 90% year-on-year to now make a meaningful contribution to total sales, primarily due to the supply of international records for channel partner clients.
ClearStar Inc. (ClearStar) is a technology and service provider to the background check industry, supporting background screening companies, employers and employees with their recruitment and employment application decisions. ClearStar provides employment intelligence to its clients through a suite of information technology (IT) applications for day-to-day use in their business. Its technology includes ScreenMeNow, ClearMD, ClearID and ClearConnect. ScreenMeNow helps users verify candidates by allowing them to enter info and e-signature consent from mobile devices. ClearMD streamlines the drug and clinical test ordering process, which enables to eliminate the errors and hassles of paper forms. ClearID uses on-the-spot identity (ID) validation and facial recognition to make hiring contract labor a snap. With ClearContact, users can organize and schedule their contract workers in one place.
CLEARSTAR, INC. 
