ISH ISH – June 2008 © Image Scan Holdings plc, 2008 1 Image Scan Holdings plc Advanced X-ray Imaging Solutions 2008Interim Results 2008 Interim Results

ISH

ISH – June 2008

© Image Scan Holdings plc, 2008© Image Scan Holdings plc, 2008 1

Image Scan Holdings plcImage Scan Holdings plc

Advanced X-ray Imaging SolutionsAdvanced X-ray Imaging Solutions

20082008 Interim ResultsInterim Results

ISH

ISH – June 2008


Financial ResultsFinancial Results

Income Statement Income Statement Year end 30 September Year end 30 September

20082008 20072007 20072007HYHY HYHY FYFY

Revenue (£’000)Revenue (£’000) 1,1221,122 1,1331,133 1,5421,542

Gross margin (%)Gross margin (%) 46%46% 50%50% 46 46%%

Administrative Expenses (£’000) Administrative Expenses (£’000) 691691 614614 1,5221,522

Profit/(loss) (£’000) Profit/(loss) (£’000) (136)(136) (60)(60) (761)(761)

EPS (pence)EPS (pence) (0.24)(0.24) (0.17)(0.17) (1.9)(1.9)

ISH

ISH – June 2008



Balance SheetBalance Sheet 20082008 20072007 20072007

HYHY HYHY FYFY£’000£’000 £’000£’000£’000 £’000

Net cash Net cash 1,337 1,337 (542)(542) 1,5311,531

Total assetsTotal assets 2,3552,355 863863 2,3922,392

Total liabilities Total liabilities (552)(552) (1,066)(1,066) (515)(515)

Net assets/(liabilities) Net assets/(liabilities) 1,8031,803 (203)(203) 1,8771,877

Retained earningsRetained earnings (6,059)(6,059) (5,223)(5,223) (5,925)(5,925)

ISH

ISH – June 2008



Revenue of £1.1m comparable to H1 FY07, but Revenue of £1.1m comparable to H1 FY07, but improvement on H2 FY07improvement on H2 FY07

46% gross margin reflecting change in sales mix46% gross margin reflecting change in sales mix

Loss of £71k before redundancy costs of £65kLoss of £71k before redundancy costs of £65k

Repeat sales from four customers endorsing Repeat sales from four customers endorsing technologytechnology

Bank balance currently stands at £1.4 millionBank balance currently stands at £1.4 million

ISH

ISH – June 2008


Restructuring of ManagementRestructuring of Management

Senior ManagementSenior Management Appointed Gilbert Chalk as Chairman who brings strong financial, Appointed Gilbert Chalk as Chairman who brings strong financial,

strategic and corporate experiencestrategic and corporate experience Appointed Jerry Horwood as NED who has a proven track-record Appointed Jerry Horwood as NED who has a proven track-record

in sales and marketingin sales and marketing

Middle ManagementMiddle Management Recruited Sales & Marketing Manager with international Recruited Sales & Marketing Manager with international

experienceexperience Appointed Operations Manager with extensive experience of Appointed Operations Manager with extensive experience of

project management and managing sub-contractorsproject management and managing sub-contractors Developed the Applications Team Manager’s role to focus on Developed the Applications Team Manager’s role to focus on

supporting the sales and marketing activity supporting the sales and marketing activity Intending to appoint another salesman to focus on security sales Intending to appoint another salesman to focus on security sales

in the UKin the UK

ISH

ISH – June 2008


OverviewOverview

AAXISXIS-3-3DD®®

Repeat sales to SRA in the USRepeat sales to SRA in the US

5 units in use at the Beijing Olympics5 units in use at the Beijing Olympics

First sale of second generation AFirst sale of second generation AXISXIS-3-3DD®®

Conditional order of £630k dependent on approval Conditional order of £630k dependent on approval of first systemof first system

TPXiTPXi Repeat sales to the British Transport Police Repeat sales to the British Transport Police

Orders of £425,000 through distributor iCMOrders of £425,000 through distributor iCM

SecuritySecurity

ISH

ISH – June 2008


OverviewOverview

Successful completion of British Nuclear Group Successful completion of British Nuclear Group contractcontract

Repeat sale to Johnson Matthey in the US for MDXiRepeat sale to Johnson Matthey in the US for MDXi

Renewal of all Johnson Matthey support contracts Renewal of all Johnson Matthey support contracts valued at £110k plus sparesvalued at £110k plus spares

Breakthrough in x-ray imaging of catalytic convertersBreakthrough in x-ray imaging of catalytic converters

IndustrialIndustrial

ISH

ISH – June 2008


Sales FocusSales Focus

Invited by USA’s Oak Ridge National Research Invited by USA’s Oak Ridge National Research Laboratory to present a joint conference paper in Laboratory to present a joint conference paper in Detroit on inspecting catalytic convertersDetroit on inspecting catalytic converters

Invited to present SVXi and TPXi developments to Invited to present SVXi and TPXi developments to this years Transec conference in Amsterdam with this years Transec conference in Amsterdam with the Home Officethe Home Office

Development of routes to market through Development of routes to market through distributors and representation including China, distributors and representation including China, India, South Africa, Kuwait and USAIndia, South Africa, Kuwait and USA

ISH

ISH – June 2008


Growing the CompanyGrowing the Company

Growth in security sales is encouragingGrowth in security sales is encouraging

Closer relationship with iCM resulting in greater Closer relationship with iCM resulting in greater

visibility on their TPXi sales pipelinevisibility on their TPXi sales pipeline

New TPXi-based security system devised for the BTP New TPXi-based security system devised for the BTP

for use in London. Possible extension to all mainline for use in London. Possible extension to all mainline

stationsstations

Renewed interest in Renewed interest in AAXISXIS-3-3DD®® following TSA report on following TSA report on

multi-view and 3Dmulti-view and 3D

Further sales stream expected from China assuming Further sales stream expected from China assuming

conditional order is confirmedconditional order is confirmed

ISH

ISH – June 2008



Trial scheduled in July with HMRC at Dover of a Trial scheduled in July with HMRC at Dover of a

small vehicle x-ray inspection system (SVXi)small vehicle x-ray inspection system (SVXi)

Recent advances in the Company’s technology Recent advances in the Company’s technology

has widened opportunities from just diesel to now has widened opportunities from just diesel to now

include petrol catalytic converters and substrates include petrol catalytic converters and substrates

Recent development work with Crown has Recent development work with Crown has

resulted in new instrumentation opportunities with resulted in new instrumentation opportunities with

the can manufacturing industrythe can manufacturing industry

ISH

ISH – June 2008



Scope to accelerate Company growth through Scope to accelerate Company growth through

add-on acquisitions being actively researchedadd-on acquisitions being actively researched

Reviewing strategic optionsReviewing strategic options

Documents

ISH ISH – June 2008 © Image Scan Holdings plc, 2008 1 Image Scan Holdings plc Advanced X-ray Imaging Solutions 2008Interim Results 2008 Interim Results