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RNS: Image Scan, (AIM: IGE) specialists in the field of X-ray imaging for the security and industrial inspection markets, announces signature of a partnership agreement with a major security technology company that will lead to the launch of a new range of security X-ray screening systems for the international market.
The first system to be produced under the new agreement will replace the former "Axis 2D" machine in the Company's product range. The new system will be a high performance, competitive conveyor X-ray machine with a 60x40cm tunnel size, suitable for security checkpoints in Government and commercial buildings around the world. The product range will eventually include a range of X-ray formats. Other technologies, such as archway metal detectors, will also be sourced through the new agreement.
The new system will be taken to market both directly and through Image Scan's expanding network of international partners.
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Seems like fantastic news for the company. Anyone got any idea who the "major security technology company" is/could be?
Was just think that the second I posted.
Sorry to all those I have disappointed.
stayed quiet 306,. Went down 15%.
Not that I mind but does anyone have any clue why the rerate?
SP seems stable at this price which suggests that something is behind the increase!
Guess this was a good old pump and dump.
Back to 1p before the end of the week.
At what point are the company obliged to issue a note on the reasons for rise or to say there is no known reason for rise? I thought there was some rule which requires this?
Now.
News logged must be especially on a day like today when it's been poor to get a rise like that
Well with just £20k traded we got a 45% increase... Can't understand how such a small percentage of the share changing hands causes such a large increase?
Big is on its way!
Wish I knew what!
GL.
What's it mean major
now.
whats prompted a 36% rise today?
Next week anyone? Certainly hope so!
GL.
Has a lot further to go in view of turnaround in contracts/orders vs mcap!
Patience will be rewarded and more news would be fantastic!
GL.
Hi to IGE posters, just bought in today - hopefully this tiddler is about to grow up - GLA
Leaky leaky
Why the sudden rise here?
So another significant order and the pipeline is greater than was delivered last year!
Looks like they have turned a corner and orders will be filled by using existing stock boosting the cash balance.
Also developing new equipment to bring to market.
Mcap 1m?
GL.
Have now left the building!
I have more patience and actually believe this 800k order (yes 800k) is the beginning of a game changer for this previous struggling tiddler.
Will add as and when and await developments which I see as very +ve.
GL.
StockMarketWire.com - Image Scan has announced a contract win, which is worth in excess of £800,000, and will provide Image Scan's ThreatScan portable X-ray systems to a security organisation of a European country.
The new contract is expected to be delivered in the first half of financial year ending 30 September 2020 and so will not impact the sales and profits performance for the year ending 30 September 2019.
As previously reported, security sales were disappointing in the third quarter and the business will make a loss in FY 2019. The loss is the expected to be in the region of £400,000.
Image Scan's Chairman and Chief Executive, Bill Mawer, commented: 'This was an excellent win from a demanding customer against stiff competition and gives us confidence in the competitiveness of our portable X-ray systems in a crowded market.' 'Our overall performance for the current financial year has been disappointing and we look to our extensive sales and product development initiatives to drive improved performance in FY 2019/20.'
Healthy opportunity pipeline continuing to grow in both security and industrial
· New product development programme well underway targeted at new security product sector
· Discussions progressing to expand product range through partnership with other X-ray companies
An organic growth plan has been developed with the short-term goal of returning the Company's performance to the level achieved in FY 2017 and to develop a sustainable platform for long term growth. This plan is driven by new initiatives to expand both the Company's product range and its market access.
In addition to sustaining the pace of innovation in its portable X-ray products, the Company has started a project, based on the Company's existing range of technologies, to develop a new security X-ray system, designed for a similar but different group of customers from the bomb squads at whom the portable range is targeted. Discussions are advancing to further broaden the product range through partnership with other security technology companies.
Significant new channel partners have been appointed in South America and Europe and these are managed by the recently appointed sales manager. A tour of South America produced a strong pipeline of opportunities.
Government procurement processes are lengthy and not always predictable in their timing and sales intake is running behind management expectations for the half year. However, with customer decisions due on several significant projects, the level of activity is expected to increase in the second half and the Company expects to achieve market expectations for the full year.
cheers, only put a couple k in but its not far off the lows so worth a punt
Yes but the loss was known to the market via RNS in june and priced in!
This could be a nice recovery play.
GL.
@Henryb... If you're going long then yes, that's a strong possibility and worth very much a punt. So good luck if invested