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Xenonics Reports
Fiscal 2011 Results

The net loss for fiscal 2011 narrowed to $92,000, or $0.00 per share

Xenonics Holdings, Inc. Press Release

FlashlightNews.org - 12/19/2011

Click photo to enlarge

Xenonics' Nighthunter 3

Xenonics' Nighthunter 3

CARLSBAD, Ca. - XENONICS HOLDINGS, INC. (OTCBB & OTCQB: XNNH) today announced financial results for fiscal 2011.

For the year ended September 30, 2011, revenue increased to $7,179,000 compared to $4,397,000 for fiscal 2010. Operating income rose to $47,000 for fiscal 2011, compared to an operating loss for fiscal 2010 of $1,643,000. The net loss for fiscal 2011 narrowed to $92,000, or $0.00 per share. This compares to a net loss for fiscal 2010 of $1,781,000, or $0.08 per share.

Selling, general and administrative expenses decreased by $580,000 to $2,441,000 for fiscal 2011 compared to $3,021,000 for fiscal 2010, and R&D expense decreased to $709,000 compared to $772,000.

At September 30, 2011, Xenonics reported working capital of $3,088,000, including cash of $738,000, and a current ratio of 6.1 to 1. This compares to working capital of $3,065,000, including cash of $705,000, and a current ratio of 5.2 at September 30, 2010.

"We are pleased to report higher revenue and operating income and greatly improved bottom-line performance for fiscal 2011. The business generated cash for the year, which speaks to our commitment to tight cost control and close management of our financial resources. As we have stated previously, despite delays in securing purchase orders from the Department of Defense and certain foreign governments for our NightHunter and SuperVision products, we continue to believe that substantial orders are forthcoming," said Chairman Alan Magerman.

Conference Call

Xenonics has scheduled a conference call at 11:00 a.m. EST this morning to discuss its results for fiscal 2011. The dial-in number is (866) 831-6270 and the passcode is #69895866. A simultaneous webcast of the conference call can be accessed from the Webcast Center of the Investor Relations link at xenonics.com. A replay will be available after 1:00 p.m. EST at this same Internet address. For a telephone replay, dial (888) 286-8010, passcode #78608544, after 1:00 p.m. EST.

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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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