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Xenonics Reports
1st Quarter Financial Results

Xenonics Reports First Quarter Net Income of $742,000 On Revenue of $3,548,000

Xenonics Holdings, Inc. Press Release

FlashlightNews.org - 2/25/2011


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Xenonics' NightHunter 3

Xenonics' NightHunter 3

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (OTCBB & OTCQB: XNNH) announced net income for the first quarter of fiscal 2011 ended December 31, 2010 of $742,000, or $0.03 per basic and diluted share, on revenue of $3,548,000. This compares to a net loss for the first quarter of fiscal 2010 of $405,000, or $0.02 per basic and diluted share, on revenue of $1,255,000.

"Based on orders in hand and current shipment schedules, we expect to report a profit again in the second quarter, and we are optimistic about the outlook for growth and profitability for the second half of the year as well," said Chairman Alan Magerman.

"Order flow in our military business continues to improve, as the years of hard work we have devoted to establishing our NightHunter illumination products in the defense market now are beginning to deliver the results we anticipated. To achieve the long term growth we are striving for, we also are building demand for our NightHunters and SuperVision night vision systems in the public safety and national security markets, as well as among international customers, and believe we have the opportunity to be successful. With more than $2 million in cash on hand, we have the resources we need to implement our business plan," Magerman said.

Selling, general and administrative expenses decreased 18% to $651,000 compared to $794,000 last year. "Our tight control over operating costs will continue. We expect SG&A to remain at or below this year's first quarter pace for the balance of the year," Magerman said.

At December 31, 2010, Xenonics reported working capital of $3,759,000, including cash of $2,139,000, and a current ratio of 5.6 to 1.

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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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