Image Scan soars on x-ray contract win

Shares in AIM-listed Image Scan lifted sharply on Monday morning after the company reported contract wins totalling over 1.0m pounds since April 1st.The company, which is focused on the development and commercialisation of real-time x-ray solutions for use in the global security and industrial inspection markets, said that the contracts included a significant repeat export order for the supply of security equipment.Following on from the company's announcement on February 27th, the company reported £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 said it had been able to secure a repeat order for two SVXi small vehicle x-ray inspection systems. Louise George, Chief Executive Officer of Image Scan, commented: "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. She added: "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."Shares in Image Scan were up 30% to 3.25p at 10:12 on Monday.MF Image Scan Holdings