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Xenonics Reports
First Quarter Results

Recently announced orders include $2.3 million for NightHunters and $1 million for SuperVision devices

Xenonics Holdings, Inc. Press Release - 2/18/2009
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Xenonics' SuperVision

Xenonics' SuperVision Nigh Vision Device

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (AMEX: XNN) today announced financial results for the first quarter of fiscal 2009, and commented on the outlook for the fiscal year.

For the three months ended December 31, 2009, revenue decreased as anticipated to $354,000 compared to $3,561,000 for the first quarter of fiscal 2008, primarily reflecting the timing of the receipt of orders for Xenonics' NightHunter high-intensity illumination products from military customers. The net loss for this year's first quarter was $1,296,000, or $0.06 per share. This compares to net income for last year's first quarter of $312,000, or $0.01 per diluted share.

"We are confident that our financial performance will improve significantly in the current quarter, based on orders we have received for our NightHunter and SuperVision products, a substantial portion of which are scheduled to ship before the end of March. We also continue to expect the company to deliver substantially higher revenue for fiscal 2009 as a whole compared to fiscal 2008 despite the slow start to the new year, as more than $11 million of outstanding Operational Needs Statements from military customers requesting funding for purchases of our NightHunter 3 work their way through the procurement process, and the five new master distributors we recently signed for our SuperVision products add to the momentum we are building for this patented night vision system in the law enforcement marketplace," said Alan Magerman, Chairman.

Recently announced orders include $2.3 million for NightHunters to be included in non-lethal force protection integration projects for the U.S. military, and $1 million for SuperVision devices from master distributors that primarily serve the law enforcement market.

At December 31, 2008, Xenonics reported working capital of $2,163,000 and a current ratio of 2-to-1. The company owns $1,000,000 of Auction Rate Securities (ARS) collateralized by student loans guaranteed by the U.S. government. Due to extraordinary credit market conditions, the ARS owned by Xenonics experienced failed auctions in 2008. The company's investment advisory firm, as well as the original marketing bank, have contractually committed to repurchase the ARS, at par value, by June 2010. Accordingly, the ARS were reclassified on the company's balance sheet at September 30, 2008 from current to long-term investments. Xenonics has established a non-recourse bank line of credit for 100% of the principal balance of the ARS, with interest limited to interest earned on the ARS, and has borrowed the entire $1,000,000 and invested the proceeds in a money market account.

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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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