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Xenonics Reports 85% Increase
in Third Quarter Revenue

NightHunter maker reports sharply narrower net loss for quarter

Xenonics Holdings, Inc. Press Release - 8/14/2008

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Xenonics' NightHunter

Xenonics' NightHunter Illumination System

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (AMEX: XNN), a leader in high-intensity illumination and high-definition night vision technologies, today announced sharply higher revenue and a sharply smaller net loss for the third quarter and first nine months of fiscal 2008 compared to the same periods of the prior year.

For the three months ended June 30, 2008, the net loss narrowed to $783,000, or $0.04 per share, versus a net loss of $1,952,000, or $0.11 per share, for the third quarter of fiscal 2007, as revenue increased 85% to $1,892,000 compared to $1,023,000 last year. For the first nine months of fiscal 2008, the net loss decreased to $249,000, or $0.01 per share, versus a net loss of $2,534,000, or $0.14 per share, for last year's first nine months, as revenue increased 153% to $9,074,000 compared to $3,585,000 for the same period a year ago.

The increase in revenue for the third quarter and first nine months of fiscal 2008 versus the same periods of fiscal 2007 was driven primarily by higher sales of Xenonics' NightHunter high-intensity illumination products to U.S. Army, U.S. Marines and military distributors.

At June 30, 2008, the Company had working capital of $4,615,000 and a current ratio of 8-to-1, as compared to working capital of $4,527,000 and a current ratio of 4.9-to-1 at September 30, 2007.

Chief Executive Officer Chuck Hunter said, "We have successfully completed the transition from our NightHunter II high-intensity illumination system with the introduction during the third quarter of our advanced NightHunter 3 device. The performance of this new product during demonstrations for military customers has consistently exceeded expectations. A number of military units have already submitted Operational Need Statements requesting funding for purchases of NightHunter 3. Production by our supplier, Perkin Elmer, is increasing steadily, and we expect this new device to contribute to our results beginning in the current quarter." NightHunter 3 is half the size and weight of NightHunter II and can illuminate targets at a greater distance.

Hunter continued, "We also are pleased by the steady progress we are making in establishing our patented and proprietary SuperVision device as the night vision system of choice in our target markets. More than 80 police departments and state and federal agencies throughout the country have purchased our high-definition night vision system to date. Positive customer feedback and increasing re-orders confirm our view that SuperVision offers a price/ performance profile unmatched by any other night vision technology."

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Conference Call

Xenonics has scheduled a conference call at 11:00 a.m. EDT this morning to discuss its results for the quarter. The dial-in number is (800) 638-4930, and the passcode is 48247717. A simultaneous webcast of the conference call can be accessed from the Webcast Center of the Investor Relations link at A replay will be available after 1:00 p.m. EDT at this same Internet address. For a telephone replay, dial (888) 286 8010, passcode 18607497, after 1:00 p.m. EDT.

About Xenonics

Xenonics Holdings, Inc. (AMEX: XNN) develops and produces advanced, lightweight and compact ultra-high-intensity 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 low-light vision systems.

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