Press Releases
Preliminary results for the year ended 30 September 2008
23 December 2008
Image Scan, AIM-listed specialist in the field of real-time 3D and 2D x-ray imaging for the ‘Homeland Security’ and ‘Industrial Inspection’ markets, announces preliminary results for the year ended 30 September 2008.
KEY POINTS
- Sales at £2,004,000 (2007: £1,542,000);
- Gross margin at 45% (2007: 46%);
- Reduced overheads of £1,360,000 (2007: £1,522,000);
- Loss on ordinary activities after taxation down to £331,000 (2007: £761,000);
- Year end net cash of £1,535,000 (2007: £1,531,000); and
- New international industrial customer in a new segment with further market opportunities.
POST BALANCE SHEET EVENTS
- Confirmation of the £630,000 order from China;
- New order of £141,000 from Johnson Matthey for their plant in Japan;
- Current order book at £743,000;
- Restructuring of the Board; and
- Further reduction in headcount since year end.
Gilbert Chalk, Chairman of Image Scan, commented:
“The confirmation of the Chinese contract, the further commitment from Johnson Matthey and the success in attracting new customers against international competition, are all positive endorsements of our technology. However, notwithstanding these recent successes, trading conditions are difficult with both general security and industrial sales being under budget in the first quarter. As a consequence the Company has recognised the need for a particularly tight control of overheads and for a renewed focus of effort on the commercialisation of the existing product range and extension of routes to market. As a result there has been a re-assignment of roles amongst the executive directors and a reduction of headcount to reflect this strategy”.
Enquiries:
| Image Scan Holdings plc | Tel: +44 (0) 1664 503 600 |
| Gilbert Chalk, Chairman | |
| Louise George, CEO | |
| info@ish.co.uk | |
| Bishopsgate Communications Ltd |
Tel: +44 (0) 207 562 3350 |
| Jenni Herbert | |
| imagescan@bishopsgatecommunications.com | |
| Seymour Pierce | Tel: +44 (0) 207 107 8000 |
| Richard Feigen | |
| Sarah Jacobs |
