Image Scan Share Discussion Threads

[amt] 30/4/2018 08:38

Any idea what market expectations are?

[gnnmartin] 30/4/2018 08:29

I thought the result was much better than the update predicted, and I am surprised by the modest share price movement so far. I don't think that the closing order book is bad, though I'm guessing that the time between order and fulfilment is short, in which case too large an order book would indicate problems.

Could be that is just my wishful thinking.

PS. Good, I see the share price was ticking up while I wrote that.

[amt] 30/4/2018 07:33

The closing order book is disappointing to say the least. What does market expectations mean?

[amt] 30/4/2018 03:52

I don't suppose the results will tell us much more than we know since its less than a month since trading update and slightly disappointing forecast for first half. With market cap of 8m there isn't any scope for any further disappointment but if the order book comes in stronger than expected with say 4m for second half there might be some upside but I am expecting something closer to 3m than 4m. so not much growth vs 2017. I shall probably hang on to my existing holding.

[simso] 27/4/2018 22:23

I saw their presentation at Mello Derby, excellent talk by Bill. They also had a stand and spent all day Thursday talking to shareholders and potential investors. It feels that the £m contract loss was one-off beyond their control, they did the right thing in working out a solution with the customer to preserve longer term relationship. Feels like they have put that setback behind them, and seemed positive about the future. Results Monday!

[assagai] 27/4/2018 09:57

Err on level 2 and advfn monitor - both no change. ( so far) but steady buying so who knows.

[ali47fish] 27/4/2018 09:44

where are yuu looking itis definitely up 5pc today

[assagai] 27/4/2018 08:51

Ali, where are you seeing the share price up again today? Or are you just being (rightfully) optimistic?

Looking at davidosh's post, IGE were at mellow on Thursday, any feedback?

[ali47fish] 27/4/2018 08:21

assagai share price up yesterday and today- is that an enouh signal to add before monday

[davidosh] 24/4/2018 23:52

Just to mention that Image Scan will have a stand to display their products and be presenting at our huge Mello2018 event in Derby on 26th April. All shareholders and potential investors are welcome to attend

IGE have presented at a Mello event before and we are very pleased to welcome them so this is an ideal opportunity to meet the management and hear about their strategy.

Do come and join us at this quality two day event and there will be at least 45 other companies to meet each day plus some fabulous keynote speakers

[assagai] 18/4/2018 12:07

Yes Sarah, me too!
Hopefully there will be really bullish outlook noises and an actual break even or better. We have a long road back to 13p and in reality the company's performance has not degraded at all. Over all with new customers and a multi industrial order we should by comparison be 15-18p. Sentiment is everything!

[sarahbudd] 18/4/2018 09:22

So run up to results on 30 April... hoping for some movement here

[boadicea] 04/4/2018 16:18

Following a dump of 500k shares, they're being offered at 6.35p if you're quick!
(Just topped up with 50k., shows as sell.)

[monty68] 04/4/2018 12:41

Told you they would be able to resell the units. They have moved away from the special systems towards standard products. Complete market overreaction to the problem

[simso] 04/4/2018 12:02

Thanks gnnmartin, that's really helpful.

Last Year's PBT was £480k, which comprised £110k in H1 and £370k in H2. Given that current year's first half is around break-even, I would really hope that the second half this year at least matches the £370k made last year, especially given the encouraging news of new business won in today's announcement. Clearly that would be much better than the current Cantor forecast of £150k for FY.

I can also understand why IGE would not be raising expectations at this stage. If there was even a scintilla of risk of falling short of upwardly revised expectations, they would look foolish indeed having warned earlier this year.

I am really happy with today's announcement, and see an increased probability of delivering a number which is better than current expectations

[gnnmartin] 04/4/2018 11:31

'Market expectations' are one of my hobby horses. If 'market expectations' are generally known, then there is no reason why a company should not be able to say something like 'We believe market expectations to be in the range xxx to yyy'. If 'market expectations' are not generally known, then saying that they will meet market expectations is giving information to a subset of the market (those who have access to 'market expectations' and it should be illegal.

That said, IGE do push out the Cantor Fitzgerald 'Breakfast Bites' note, which summarises with "We recently published new forecasts for Image Scan in our note AGM update: trading in line, 28 February 2018. For FY18e we forecast: Revenue of £4.5m (FY17a: £5.03m), PBT of £150k (FY17a: £480k), EPS of 0.18p (FY17a: 0.43p) and year-end cash of £1.2m (FY17a: £1.3m). As discussed, with resale of systems and good underlying demand we believe risks for our forecasts for the full year are now on the upside."

[simso] 04/4/2018 09:10

As a PI in the post MIFID2 world, it is much more difficult to ascertain what "Market Expectations" actually are. Going through Research Tree, I see a note from Hydridan on 22nd Feb which mentions £0.6m PBT for 2018. The Hemmscott site references a Cantor Forecast of £0.4m, made back in October. Stockopedia only gives a "net profit" rather than Gross, but says £0.25m. Any ideas which one is "Market Expecations"?

[assagai] 04/4/2018 08:33

Well i'm not surprised! To have re-sold those units in the first half is remarkable. There is a lot of very good news in this update. To be building five industrial scanners at one time will really improve the gross margin and adding these to the maintenance column in the future underpins the regular income nicely.In terms of sales we look to be better than ever but due to the vagaries of the market are 5p below our best.....
Hopefully the Brokers will follow this up with a positive buy note and enhanced price targets. Maybe back to where we were before all the excrement hit the whirly thing!

[dave4545] 04/4/2018 08:24

9.4 mil cap

It's caught "ZOO" itus !

[amt] 04/4/2018 08:16

Pleasantly surprised by share price reaction

[paleje] 04/4/2018 08:10

Discounted perhaps? Would be normal, better than having a pile of stock hanging around.

[trident5] 04/4/2018 07:58

So, if they've sold all the kit from the dropped order - why aren't they making a profit?

[paleje] 04/4/2018 07:53

Well done management. Look beyond the current fiscal year.

[simso] 04/4/2018 07:39

Looks excellent to me. The break even first half is an improvement on February's trading update when a small loss was predicted. Much more substance to underpin the second half in this announcement too.

[amt] 04/4/2018 07:19

Trading update. A bit disappointing that only at break even. Apparently in line with expectations but I have heard that phrase used a lot. Ag least there are regular updates though.