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Hipster
Platinum Contributor
Joined: 15-Oct-02
Location: United Kingdom
Posts: 830
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| Posted: 21-May-07 at 12:32 | IP Logged
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Just bought in on RNS
IMAGE SCAN HOLDINGS PLC
('Image Scan' or the 'Company')
INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2007
Significantly increased turnover and a reduced loss edges the Company towards
profitability
The Board of Image Scan, a world leader in the field of real-time 3D and 2D
x-ray imaging for the 'Homeland Security' and 'Industrial Inspection' markets,
announces interim results for the six months ended 31 March 2007.
HIGHLIGHTS
• Company approaching break-even;
• Loss before tax down to £60,000 (2006: £278,000);
• Loss per share down to 0.17p (2006: 0.80p);
• Turnover up 50% to £1,133,000 (2006: £755,000);
• Gross margin strengthened to 50% (2006: 45%);
• Three-fold increase in order book to £945,000 (2006: £253,000);
• Ongoing sales with Blue Chip clients such as British Nuclear Group &
Johnson Matthey; and
• Placing agreed in May to raise £3m before expenses.
Commenting on the results, Peter Woods, Chairman, stated: 'The Board is pleased
with the improvement in the Company's financial results as it moves towards
profitability, and at the high level of interest shown by both the Industrial
and Security markets in our products and technology.
'The Company is seeking to raise £3m in order to provide the necessary resources
and working capital to optimise the opportunities we have created and accelerate
future growth.'
Enquiries:
Image Scan Holdings plc &nb sp; &nb sp;Tel: +44 (0) 1664 503 600
Peter Woods, Chairman
Nicholas Fox, CEO
info@ish.co.uk
Bishopsgate Communications Ltd &nb sp; Tel: +44 (0) 207 562 3350
Dominic Barretto
Jenni Herbert
jenni@bishopsgatecommunications.com
Seymour Pierce Ltd &nb sp; &nb sp; Tel: +44 (0) 207 107 8100
David Newton
davidnewton@seymourpierce.com
For further information on the Company, please visit: www.ish.co.uk - and for
further information on its products, please visit: www.3dx-ray.com.
CHAIRMAN'S STATEMENT
Introduction
I am pleased to present the interim results of Image Scan for the six months
ended 31 March 2007, and the Board's view of the Company's prospects for the
remainder of this financial year.
Image Scan continues to be focused on the development and commercialisation of
market leading real-time 3D and 2D x-ray solutions for use in the global
industrial and security inspection markets. The Company's industrial inspection
solutions include the MDXi unit and the X-Line systems. The security portfolio
includes a unique 3D baggage inspection system for corporate and airport
security and TPXi, a portable suspect package inspection system for use by bomb
disposal experts.
Financial Results
Sales for the six months have increased by 50% to £1,133,000 (2006: £755,000),
reflecting our ongoing relationship with blue chip companies, such as Johnson
Matthey and British Nuclear Group. Over the same period the Company has
maintained its tight control over costs, with overheads being contained at
£614,000 (2006: £619,000). In addition, the increased efficiencies associated
with higher activity have allowed us to improve our gross margin to 50% (2006:
45%).
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Hipster
Platinum Contributor
Joined: 15-Oct-02
Location: United Kingdom
Posts: 830
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| Posted: 21-May-07 at 12:38 | IP Logged
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Update on Trading
The Company has released its interim statement for the 6 months to 31 March
2007. The Interim financial statements show continued improvement with turnover
increased by 50% to £1.1m, gross margins strengthened to 50% and the loss for
the period down to £60,000. At the period end prospects for the Company were
strong with the order book at £945,000. Since the period close we have seen new
orders for our Service Division, in respect of installed equipment in the USA,
and continue to see excellent progress on current contracts and development of
our sales pipeline.
Commenting on the Placing, Nicholas Fox, Image Scan's CEO, said:
'The result of this placing will provide the Company with the necessary
resources and working capital to optimise the opportunities we have created and
accelerate future growth.
Over the last few years the Company has worked hard to consolidate its
technology into a viable product portfolio to satisfy market needs. This effort
has been strongly validated through our success in marketing these systems to
'blue chip' customers, providing us with a strong base from which we can now
rapidly expand.'
Enquiries:
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Hipster
Platinum Contributor
Joined: 15-Oct-02
Location: United Kingdom
Posts: 830
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| Posted: 21-May-07 at 13:24 | IP Logged
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Looks like Ive got stuffed down 10% now. This must be due to the dilution with all those extra shares being issued. Didnt read that till after buying
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Krabthearab
Regular Contributor
Joined: 20-Dec-07
Location: United Kingdom
Posts: 65
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| Posted: 23-Feb-08 at 11:02 | IP Logged
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These seem to have good product, but they never deliver, yet have often been tipped by the likes of shares mag.
Anyone still hold?
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Fillyaboots Forums : General Trading
Topic: Image Scan Holdings
