Today, Xenonics Holdings, Inc. released their announced financial report for the fiscal year 2011, ending on September 30. The company released an overall optimistic report.
Xenonics is focused on producing ultra-high intensity lighting products as well as low-light vision apparatus for military, law enforcement, public safety, and commercial customers. The company produces the NightHunter series of lighting products, which is used by every branch of the US Armed Forces. Xenonics also produces the SuperVision line of night vision apparatus, designed for commercial and military use.
During their 2011 fiscal year, Xenonics’ revenue increased to $7,179,000, up from $4,397,000 in 2010. The company’s 2011 operating income rose to $47,000, versus an operating loss in 2010 of $1,643,000. 2011’s net loss was $92,000, compared to 2010′s $1,781,000 net loss.
As of September 30, 2011, the company reported working capital of $3,088,000, which includes cash of $738,000 and a current ratio of 6.1 to 1. This is up from 2010′s working capital of $3,065,000, with cash of $705,000 and a current ratio of 5.2. Expenses decreased to $2,441,000 for fiscal 2011, versus $3,021,000 in 2010, a difference of $580,000. 2011′s R&D expenses decreased to $709,000, versus 2010′s $772,000.
Xenonics Chairman Alan Magerman said, “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.”
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