Xenonics Reports Fiscal 2006 Third Quarter Results
Xenonics Holdings Press ReleaseFlashlightNews.org - 08/21/2006
Manufacturer of NightHunter line of searchlights reports lower revenues, says 4th quarter contracts to improve picture
Xenonics NightHunter
CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (Amex: XNN) today announced financial results for the third quarter of fiscal 2006.
For the three months ended June 30, 2006, revenue was $855,000 compared to $3,075,000 for the three months ended June 30, 2005. The prior year revenue included $2,700,000 related to a single contract from the U.S. Marine Corps. The net loss for the quarter ended June 30, 2006 was $633,000, or $0.04 per share. This compares to net income of $23,000 for the same period of the prior year.
For the nine months ended June 30, 2006, revenue was $2,493,000. This compares to $3,905,000 for the nine months ended June 30, 2005. The net loss for the nine months ended June 30, 2006 was $2,241,000, or $0.14 per share. This compares to net loss of $1,806,000, or $0.12 per share, for the same period of the prior year.
"Xenonics has positioned itself to provide our illumination systems to new military development programs and to be part of the future of the military services. We are aggressively pursuing opportunities internationally as well as domestically. Last year a significant contact from the Marines was awarded in the 3rd quarter. This year we expect similar contracts in the 4th quarter which will markedly increase our 4th quarter year over year earnings.
"Homeland Security and border control are major opportunities for our current and future products. We expect the SuperVision System which we announced last week to have a major impact in the security and law enforcement market and on Xenonics' revenues. These events should have a very positive effect on future earnings and shareholder value," said Richard Naughton, CEO.
About Xenonics
Xenonics develops and produces advanced, lightweight and compact ultra-high intensity lighting products for military, law enforcement, public safety, and commercial and private sector applications. Currently, NightHunters are in use by every branch of the U.S. Armed Forces as well as a wide variety of law enforcement and security agencies. Using its breakthrough patented technology, Xenonics provides innovative solutions for customers that demand the ability to see farther so that they can do their job better and safer. Xenonics' products deliver a quantum leap in performance over other illumination technologies and represent the next generation in small, high intensity, high efficiency lighting systems.
Visit Xenonics on the web at www.xenonics.com.