Xenonics Issues Shareholder Update
Thursday January 24, 7:30 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--XENONICS HOLDINGS, INC. (AMEX:XNN - News), a leader in high-intensity illumination and high-definition night vision technologies, today issued the following letter to shareholders:
To Our Shareholders:
Here is an update on Xenonics:
* Xenonics will be profitable in the first quarter of fiscal 2008 ended December 31, 2007 on revenue of approximately $3.4 million.
* We expect our profitability to continue throughout the year
* Xenonics has approximately $5 million in working capital, including more than $2.3 million in cash, and a current ratio of 5-to-1
* Xenonics has no debt, and no bad receivables
* With our strong balance sheet, we have no plans to raise money in the foreseeable future
* Our key new products, SuperVision and NightHunter 3, have been expensed and are in production. Our new NightHunter Tactical device and our just-released SuperVision infrared illuminator also are moving into production and should contribute to our results beginning this fiscal year
* Our manufacturing capacity is ample, both for the NightHunter and SuperVision products we make in-house, and the NightHunter 3 product manufactured for us by Perkin Elmer
* Our NightHunter and SuperVision products target customers in large, strong and growing military, police and public safety markets in the U.S. and around the world that can support our growth for years to come
* The experienced management team we have put in place is confident in our strategy to build value for our shareholders
Sincerely,
Chuck Hunter
Chief Executive Officer
About Xenonics
Xenonics Holdings, Inc. (AMEX:XNN - News) 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.
Forward-Looking Statements
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.
Contact:
Xenonics Holdings, Inc.
Chuck Hunter, CEO, 760-448-9700
xenonics@xenonics.com
or
Investor Contact:
Berkman Associates, 310-826-5051
info@BerkmanAssociates.com
Source: Xenonics Holdings, Inc.
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