The company's explosives trace detection solutions have received approvals and certifications from several international regulatory agencies including the TSA in the U.S., ECAC in Europe, CAAC and the Ministry of Public Safety in China, Russia FSB, STAC in France, and the German Ministry of the Interior, a Feb. 11 press release stated.
IMSC's Q2 revenue climbs 380 percent
Last February, IMSC reported results for the three months ended Dec. 31, 2015.
Revenue for the quarter increased 380.7 percent to $10.3M, from $2.1M for the comparable prior year period, a Feb. 11 press release stated. IMSC also cut its loss in the quarter to $3.3M as compared with a net loss of $6.2M for the comparable prior year period.
IMSC's revenue for the six months ended Dec. 31, 2015 increased 515.6 percent to $24.7M, compared to $4M for the same period a year earlier. For the six months ended Dec. 31, 2015, IMSC cut its net loss to $4.2M, compared with a net loss of $11.6M in the same six-month period a year earlier.
"We are extremely pleased with the results of our recently completed quarter, a quarter in which we recorded revenues in excess of prior fiscal years revenues, a quarter in which we continued our penetration in the European aviation market with additional follow-on orders following the successful ECAC deployment in our first quarter and the initial delivery to U.S. airports under the delivery order with the Transportation Security Administration," said IMSC's CEO Dr. William McGann in a Feb. 11 press release.
IMSC announces follow-on orders for European nations
On Thursday, IMSC announced that it shipped approximately $1M of its QS-B220 desktop explosives and drugs trace detectors and its QS-H150 handheld explosives trace detectors.
A large portion of the sales, which were previously unannounced, were shipped to fulfill additional demand for aviation security in European nations, a Mar. 31 press release stated Over the past year, IMSC has been selected by high profile airports across 14 EU nations and has deployed over 1,000 units to support ECAC regulations.
"Implant Sciences continues to perform as the market leader, selected time and again by the busiest airports in Europe," said IMSC's executive vice president Dr. Darryl Jones in the Mar. 31 press release. "We are pleased by our ongoing success in this market and we look forward to continuing to deliver to these customers as we work to develop new solutions and product offerings to meet their critical security needs."
To learn more about IMSC, visit: http://www.implantsciences.com.
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