Contract Win

RNS Number : 0546G

Image Scan Holdings PLC

03 June 2013

 



3 June 2013

Image Scan Holdings plc

("Image Scan" or "the Company")

SIGNIFICANT CONTRACT WIN

Over £1m of orders secured since April

The Board of Image Scan, specialists in the field of real-time 3D and 2D x-ray imaging for the security and industrial inspection markets, is pleased to announce contract wins totalling over £1,000,000 since 1 April 2013 which include a significant repeat export order for the supply of security equipment.

Key Points:

·     Contracts totalling over £1m secured since 1 April 2013

·     £2.3m of cumulative orders in current financial year

·     Sale of two SVXi mobile security x-ray screening systems

·     Further sale of an AXIS-3D conveyor system into Africa

·     Continued focus on cash management and on-going sustainability

Following on from the Company's announcement on 27 February, the Board is pleased to report on £2.3m of cumulative orders secured in the current financial year, having started the year with an order book of approximately £0.4m and booked a further £1.9m of new orders in the year to date with security sales comprising over 75%. 

Capitalising on Image Scan's investment into product development in 2012, the Company has been able to secure a repeat order for two SVXi small vehicle x-ray inspection systems. These highly mobile units are for deployment with customs and border control agencies and security forces to counter on-going criminal and terrorist threats.  Given the lead time in manufacturing these systems, it is anticipated that they might be part-delivered within the current financial year.

In addition to the sale of the three AXIS-64 conveyor systems into the Middle East announced in April the Company has more recently sold a further AXIS-64 and one of its AXIS-3D systems into Africa where the enhanced image quality and processing functions for rapid and accurate interpretation of images remains essential.

Image Scan's full product range can be downloaded at the Company's website: www.3dx-ray.com

Commenting, Chief Executive, Louise George said: "Having invested heavily in development to extend Image Scan's product portfolio in 2012, we are delighted to see the benefit in terms of repeat sales in the current year and the strong performance across the security product range.  The Board recognises the tough economic conditions that still prevail and, through significant contract wins such as this one, remains focused on long term corporate sustainability."

-ENDS-

For further information, please contact:

Image Scan Holdings plc                                                               Tel: [phone]

Brian Emslie, Chairman

Louise George, CEO

[e-mail]

Cantor Fitzgerald Europe                                                             Tel: [phone]

Tom Sheldon / Rick Thompson (Corporate Finance)

Richard Redmayne / Paul Jewell (Corporate broking)

Yellow Jersey PR Limited                                                             Tel: [phone]

Dominic Barretto

Anna Legge

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 Axis range of baggage inspection systems; the FlatScan range of portable bomb and suspect package detection 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 is now broadening its scope to look at other key applications where its technology can be adopted, such as in the Medical devices industry.  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

 

END

 

 

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