13th Apr 2015 06:46
LONDON (Alliance News) - Image Scan Holdings PLC Monday said it expects to post a pretax loss of around GBP380,000 for the first half of its financial year, widened from a pretax loss of GBP59,000 in the previous year, due to lower sales and the delayed availability of an x-ray generator to replace the waning supply of its existing generator.
The company's sales have been hit by a drop off in orders of its portable x-ray systems as it exhausted the remaining supply of the old-style portable x-ray generators and it looked to find a replacement. This replacement generator was launched last December, and is performing well, with a total of 15 new generators delivered to customers so far, the company said.
Image Scan said that it had seen sales of GBP860,000 with an improved gross margin in the half year to end-March, and whilst it has managed its overhead costs carefully, it still expects to post a widened pretax loss. In the previous year, it posted revenue of GBP1.7 million for its first half.
"Order intake so far this year has been slow. However it is pleasing to see twelve months of hard work by our Research and Development team come to fruition with the launch of the important new portable systems," said Chairman and Chief Executive Bill Mawer in a statement.
"Initial responses from customers have been positive and we look forward to strong uptake as our sales team start demonstrating and trialling these systems around the world. I look forward to further recovery in the company's order intake in the second half of the financial year," Mawer added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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