Image Scan Holdings PLC Trading Statement (7690P)
23 February 2016 - 6:00PM
UK Regulatory
TIDMIGE
RNS Number : 7690P
Image Scan Holdings PLC
23 February 2016
23 February 2015
Image Scan Holdings plc
("Image Scan" or the "Company")
TRADING UPDATE
Image Scan, (AIM: IGE) specialists in the field of real-time
X-ray imaging for the security and industrial inspection markets,
provides a trading update ahead of its 2016 Annual General Meeting
to be held at 13:30 today.
Key Points:
-- Over GBP1m of new orders have been added to the GBP600k of
orders carried forward from the prior year
-- Multi-unit orders received for the newly released portable
X-ray systems from two Asian customers
-- Growing security business in Europe
-- Successful exhibit at security exhibitions in Paris and Dubai
-- Continued strengthening of industrial order book
-- Ongoing investment in Research and Development during the period
In the security business significant orders have been received
for both the new ultra-thin ThreatScan(R) LS1 panel and the smaller
FlatScan-15 panel, together with our unique portable generator and
new software suite. Multiple unit orders have been received from
two important Asian customers and one of these orders has been
despatched. In Europe our new sales manager continues to make
progress and, among other achievements a unit will be provided to a
European Commission research facility in Germany. The focus remains
on winning the larger orders that are key to the long term and
sustainable development of the Company's security activity.
The Precision Linescan Detector (PLD) project, which is assisted
by a UK Government grant of GBP104k, is on schedule and a first
quarterly review was completed successfully with Innovate UK, the
funding body. In this project we are working with innovative new
technology from Ibex Innovations Ltd. Good progress is being made
as the technology evaluation unit is now producing very high
quality images.
The sales team have further accelerated the promotion of our
portable X-ray products with exhibitions, demonstrations and
customer trials around the world. The system was demonstrated
widely at the Milipol Exhibition in Paris, the Intersec Exhibition
in Dubai and during a tour of the Gulf region. Similar
demonstrations are planned for other regions.
In terms of the industrial business, which is focussed on
providing inspection technology used in the manufacture of
automotive emissions control systems, we have continued to
strengthen the order book. In addition to the order of four units
reported at the start of the year, orders for three further units
for delivery this year have also been received. Long term support
contracts have been signed with a number of important
customers.
Image Scan's Chairman and Chief Executive, Bill Mawer,
commented: "It has been gratifying to see the return of multi-unit
orders for our portable X-ray systems while 'in the field' reports
from customers using the new technology have been very positive.
The continued strength of the order book for our industrial x-ray
systems confirms our strength in this particular niche market. I am
at this point optimistic for our first half performance and look
for continued strong order intake to support the second half."
-ENDS-
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817400
William Mawer, Chairman
Sarah Atwell-King, Company Secretary
ir@ish.co.uk
Cantor Fitzgerald Europe Tel: +44 (0) 207 894 7000
Rick Thompson / David Foreman / Michael Reynolds (Corporate
Finance)
David Banks / Tessa Sillars (Corporate Broking)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development
and commercialisation of market leading real-time X-ray solutions
for use in the global Security and Industrial inspection markets.
The Company's Security portfolio includes the ThreatScan(R) range
of portable bomb and suspect package detection systems; the Axis
range of baggage inspection systems; and SVXi, a small vehicle
inspection system. The Industrial inspection solutions include the
MDXi product range, cabinet X-ray systems for laboratories and
production lines. The Company was founded in 1996 and joined AIM in
2002.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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