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Xenonics Announces
Fourth Quarter and Fiscal 2010 Results

Gross profit margin improved to 49% for fiscal 2010 versus 46% for fiscal 2009.

Xenonics Holdings, Inc. Press Release

FlashlightNews.org - 1/10/2011


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XENONICS HOLDINGS, INC.

XENONICS HOLDINGS, INC.

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (OTCBB & OTCQB: XNNH) today announced financial results for the fourth quarter and fiscal 2010.

For the three months ended September 30, 2010, the net loss was $237,000, or $0.01 per share, on revenue of $1,611,000. Results for the fourth quarter of fiscal 2010 included one-time charges associated with the termination of a master distributor of approximately $200,000. For the fourth quarter of fiscal 2009, the net loss was $42,000, or $0.00 per share, on revenue of $2,090,000.

For the twelve months ended September 30, 2010, the net loss was $1,781,000, or $0.08 per share, on revenue of $4,397,000. This compares to a net loss for fiscal 2009 of $1,839,000, or $0.09 per share, on revenue of $7,378,000.

"Based on orders we have announced recently, we continue to expect a substantial profit for the first quarter ending December 31, 2010 on revenue in excess of $3,000,000. The pace of new orders appears to be accelerating, and we are optimistic that we will continue winning business for both our NightHunter and SuperVision products in the months to come. We are increasingly optimistic about the company's performance for fiscal 2011 as a whole," said Chairman Alan Magerman.

Gross profit margin improved to 49% for fiscal 2010 versus 46% for fiscal 2009. Selling, general and administrative expenses decreased 33% to $3,021,000 compared to $4,535,000 for the prior year, reflecting decreases in salaries and benefits, consulting services, and marketing and travel expenses. "We expect SG&A expenses in fiscal 2011 to be below fiscal 2010, as we remain committed to aggressively managing costs even as we grow the business," Magerman said.

At September 30, 2010, Xenonics reported working capital of $3,065,000, a current ratio of 5.2, and shareholders' equity of $3,349,000. At September 30, 2009, working capital was $2,436,000, the current ratio was 2.6, and shareholders' equity was $2,649,000.

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About Xenonics

Xenonics Holdings, Inc. 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.

Visit Xenonics on the web at xenonics.com.

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