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Xenonics Reports
Profitable Second Quarter

NightHunter maker turns profit for second quarter of 2011, sees profit in future quarters

Xenonics Holdings, Inc. Press Release

FlashlightNews.org - 6/2/2011

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Xenonics Nighthunter3

Xenonics Nighthunter3 Illumination System

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (OTCBB & OTCQB: XNNH) today announced net income for the second quarter of fiscal 2011 of $231,000, or $0.01 per basic and diluted share, on revenue of $2,000,000. This compares to a net loss for the second quarter of fiscal 2010 of $951,000, or $0.04 per basic and diluted share, on revenue of $109,000.

Selling, general and administrative expenses decreased 10% to $627,000 compared to $696,000 for the second quarter last year. The Company expects SG&A to be below this pace for the balance of the year, excluding any non-cash expenses.

For the six months ended March 31, 2011, net income increased to $973,000, or $0.04 per basic and diluted share, on revenue of $5,548,000. This compares to a net loss for the first six months of fiscal 2010 of $1,356,000, or $0.06 per basic and diluted share, on revenue of $1,365,000.

At March 31, 2011, Xenonics reported working capital of $4,045,000, including cash of $2,419,000, and a current ratio of 7.7 to 1.

"Our second quarter shipments were affected by the widely reported slowdown in defense procurement during the period, as Congress worked to complete a budget for the current fiscal year. With the budget now finally in place, we are optimistic that order flow from our defense customers will accelerate in the months ahead, and we remain confident about the outlook for Xenonics' growth and profitability in the year's second half," said Chairman Alan Magerman.

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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