Image Scan Holdings Plc · LSE:IGE
Image Scan — H1 2011 Earnings Presentation
13 slides from Image Scan's earnings presentation, May 27, 2011
Slide 1: Interim Results 2011 and Proposed Strategic Investment
INTERIM RESULTS 2011 AND PROPOSED STRATEGIC INVESTMENT 27 MAY 2011
Slide 2: Key Points
Key Points • Recent signs of strategy adopted bearing fruit • Sales team established in new territories without increasing overheads • Stronger order intake in current year of £1.8m • Disappointing that increased order intake is not reflected in interim results • Bank balance as at 14 May 2011 of £1
Slide 3: Income Statement
Income Statement HY 2011 HY 2010 FY 2010 Revenue (£’000) 772 922 1,472 Gross Margin (%) 41% 54% 55% Overheads (£’000) 582 604 1,218 Profit/(Loss) (£’000) (266) (108) (410) EPS (pence) (0.43) (0.19) (0.65)
Slide 4: Balance Sheet
Balance Sheet HY 2011 HY 2010 FY 2010 Tangible Assets 43 96 49 (£’000) Inventories (£’000) 320 273 273 Receivables (‘000) 460 370 348 Net Cash (£’000) 197 643 348 Current Liabilities (470) (297) (204) (£’000) Net Assets (£’000) 550 1,085 814
Slide 5: Interim Results 2011
Interim Results 2011 • Revenue disappointing, although good H2 sales visibility • Gross margin reduced due to greater mix of industrial and nuclear sales EOD vehicle inspection • Period end net cash at £197k (FY10: £348k) • Continued losses and increased stock requirements causing pressure on workin
Slide 6: Sales Mix by Sector
Sales Mix by Sector 1000 900 800 700 600 500 Security 400 Industrial 300 200 100 0 H1 H2 H1 H2 H1 H2 H1 H2 H1 2007 2007 2008 2008 2009 2009 2010 2010 2011
Slide 7: Security Overview
Security Overview • Predominantly FlatScan-TPXi sales • Systems sold into Middle East, Europe and Asia • Disappointing H1 sales into Europe • Launched FlatScan-15 at Counter Terror in April 2011 in the UK • Sales of FlatScan-15 into South East Asia in H2 • Attended exhibitions in the UK and the Midd
Slide 8: Industrial Overview
Industrial Overview • Extension to new MDXi software platform • Work-in-progress on contract for 2 MDXi-NT industrial inspection systems • Small nuclear contract to deliver key component • First tranche of significant contract for the inspection of nuclear waste
Slide 9: Current Year Order Book
Current Year Order Book • Brought forward order book of £90k • FY11 order intake to date of £1.8m includes: £830k nuclear sector contracts £330k industrial orders for software and equipment Nuclear waste drum inspection within the automotive sector £580k security order for FlatScan and AXIS sy
Slide 10: Sales by Product Range
Sales by Product Range Confirmed orders in FY07 FY08 FY09 FY10 hand £’000 deliverable £’000 £’000 £’000 £’000 in FY11 £’000 FlatScan 206 687 472 1,165 491 AXIS 32 440 660 40 89 Industrial 576 245 122 - 330 Nuclear 450 400 - - 430* Spares & Support & Consultancy 278 233 190 267 143 TOTAL 1,542 2,005
Slide 11: Notice of General Meeting
Notice of General Meeting General Meeting of Shareholders • Tuesday 21 June at 3pm • Proposed placing: To raise £300,000 Issue of 15,000,000 new ordinary shares FlatScan-TPXi and 15 Placing price of 2p represents premium of 60% Placing shares will represent 20% of enlarged share capital • Re-app
Slide 12: Strategic Investment
Strategic Investment • Strategic Investor Rise Step International Development Limited Hong Kong resident limited liability company Sole director is Lu Qing • Basis of investment Rise Step believe that there are opportunities in Asia and the Far East : AXIS 100 To reduce cost of key components
Slide 13: Important Notice
Important Notice • This document is issued and approved for distribution within the United Kingdom by Image Scan Holdings plc (the “Company”) only to eligible counterparties and professional clients as defined in the FSA rules. It is not directed at, may not be suitable for and should not be relied