Fiscal 2007 Financial Results
|Xenonics Holdings, Inc. Press Release||FlashlightNews.org - 12/19/2007|
NightHunter maker reports slightly higher revenue, larger loss for 2007 fiscal year; expects profitability during current quarter
Xenonics' NightHunter II HID spotlight
CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (AMEX: XNN), a leader in high-intensity illumination and high-definition night vision technologies, today announced financial results for fiscal 2007 in line with previous guidance, and reaffirmed its outlook for the first quarter of fiscal 2008 announced on December 11, 2007.
For the twelve months ended September 30, 2007, revenue increased to $4,984,000 compared to $4,833,000 for fiscal 2006. The net loss for fiscal 2007 was $4,034,000, or $0.22 per share. Results for fiscal 2007 included approximately $2.6 million in non-cash and one-time charges, consisting of approximately $1.1 million of non-cash option-related expense, and one-time charges of approximately $1.5 million related to the start-up of SuperVision manufacturing as well as legal and severance costs. For fiscal 2006, Xenonics reported a net loss of $1,488,000.
At September 30, 2007, Xenonics reported working capital of $4,527,000, including cash of $2,388,000, and stockholders' equity of $4,742,000. Xenonics has no debt.
As previously announced, for the first quarter of fiscal 2008 ending December 31, 2007, Xenonics expects to be profitable on revenue of approximately $3.4 million. In comparison, for the first quarter of fiscal 2007, Xenonics reported a net loss of $406,000 on revenue of $916,000.
Xenonics has scheduled a conference call at 11:00 a.m. EST this morning (Wednesday, December 19, 2007) to discuss its results for the quarter. The dial in number is (866) 510 - 0676, and the passcode is 13019939. A simultaneous webcast of the conference call can be accessed from the Investor Relations link at www.xenonics.com. A replay will be available after 1:00 p.m. EST at this same Internet addresses. For a telephone replay, dial (888) 286-8010, passcode 33677727, after 1:00 p.m. EST.
Xenonics Holdings, Inc. (AMEX:XNN) develops and produces advanced, lightweight and compact ultra-highintensity illumination and low-light vision products for military, law enforcement, public safety, and commercial and private sector applications. Xenonics' NightHunter line of illumination products is used by every branch of the U.S. Armed Forces as well as law enforcement and security agencies. Its SuperVision high-definition night vision is designed for commercial and military applications. Employing patented technologies, Xenonics provides innovative solutions for customers who must see farther so they can do their jobs better and safer. Xenonics' products represent the next generation in small, high intensity, high efficiency illumination and lowlight vision systems.
Visit Xenonics on the web at www.xenonics.com.