Xenonics Reports Fiscal 2012 Results
CARLSBAD, Calif.--(BUSINESS WIRE)-- XENONICS HOLDINGS, INC. (OTCBB:XNNH) (OTCQB:XNNH) today announced financial results for fiscal 2012.
Revenue for the twelve months ended September 30, 2012 was $2,164,000. This compares to revenue of $7,179,000 for fiscal 2011. The net loss for fiscal 2012 was $2,189,000, or $0.09 per share. This compares to a net loss for fiscal 2011 of $92,000, or $0.00 per share.
Selling, general and administrative expenses decreased to $2,130,000 for fiscal 2012 compared to $2,441,000 for fiscal 2011. Research and development expenses rose to $720,000 for fiscal 2012 compared to $709,000 for the prior year.
At September 30, 2012, Xenonics reported working capital of $1,114,000, and a current ratio of 1.7-to-1. Inventories were $2,117,000. The Company has arranged for debt financing if needed.
"Our financial results for fiscal 2012 reflected the impact of fiscal uncertainty on defense spending, both in the United States and around the world. In response, we reduced costs and husbanded our financial resources even as we pursued many excellent opportunities to win large new orders in the year ahead. We expect substantial orders for our NightHunter and SuperVision products to be released over the coming months, in addition to the previously announced $1,000,000 NightHunter order scheduled to begin shipping in January. We are optimistic about our opportunities for renewed growth and profitability in fiscal 2013," said Chairman Alan Magerman.
Xenonics has scheduled a conference call at 11:00 a.m. EST this morning to discuss its results for fiscal 2012. The dial-in number is (800) 599-9816 and the passcode is #91994339. A simultaneous webcast of the conference call can be accessed from the Webcast Center of the Investor Relations link at www.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 #17491586, after 1:00 p.m. EST.
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 www.xenonics.com.
Except for the historical statements, statements in this release may constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934.When used, the words "anticipates," "believes," "expects," "intends," "future," and other similar expressions identify forward-looking statements.These forward-looking statements reflect management's current views with respect to future events and financial performance and are subject to risks and uncertainties, and actual results may differ materially from the outcomes contained in any forward-looking statement.Factors that could cause these forward-looking statements to differ from actual results include delays in development, marketing or sales of new products, and other risks and uncertainties discussed in the company's periodic reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission.Xenonics Holdings undertakes no obligation to update or revise any forward-looking statements.
XENONICS HOLDINGS, INC.
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XENONICS HOLDINGS, INC.
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KEYWORDS: United States North America California
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