Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Access Control
LeftNav
Alarms
LeftNav
Biometrics
LeftNav
Detection
LeftNav
Deutsche Zone (German Zone)
LeftNav
Education, Training and Professional Services
LeftNav
Government Programmes
LeftNav
Guarding, Equipment and Enforcement
LeftNav
Industrial Computing Security
LeftNav
IT Security
LeftNav
Physical Security
LeftNav
Surveillance
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
 
News

Revenues up and losses down for night vision specialists

Xenonics : 14 August, 2008  (Company News)
Nighthunter high intensity illumination product manufacturer sees greater than 150% increase in revenues stemming the company’s losses with increased product demand
Xenonics Holdings has announced sharply higher revenue and a sharply smaller net loss for the third quarter and first nine months of fiscal 2008 compared to the same periods of the prior year.

For the three months ended June 30, 2008, the net loss narrowed to $783,000, or $0.04 per share, versus a net loss of $1,952,000, or $0.11 per share, for the third quarter of fiscal 2007, as revenue increased 85% to $1,892,000 compared to $1,023,000 last year. For the first nine months of fiscal 2008, the net loss decreased to $249,000, or $0.01 per share, versus a net loss of $2,534,000, or $0.14 per share, for last year's first nine months, as revenue increased 153% to $9,074,000 compared to $3,585,000 for the same period a year ago.

The increase in revenue for the third quarter and first nine months of fiscal 2008 versus the same periods of fiscal 2007 was driven primarily by higher sales of Xenonics' NightHunter high-intensity illumination products to US Army, US Marines and military distributors.

At June 30, 2008, the Company had working capital of $4,615,000 and a current ratio of 8-to-1, as compared to working capital of $4,527,000 and a current ratio of 4.9-to-1 at September 30, 2007.

Chief Executive Officer Chuck Hunter said, 'We have successfully completed the transition from our NightHunter II high-intensity illumination system with the introduction during the third quarter of our advanced NightHunter 3 device. The performance of this new product during demonstrations for military customers has consistently exceeded expectations. A number of military units have already submitted Operational Need Statements requesting funding for purchases of NightHunter 3.

Production by our supplier, Perkin Elmer, is increasing steadily, and we expect this new device to contribute to our results beginning in the current quarter.' NightHunter 3 is half the size and weight of NightHunter II and can illuminate targets at a greater distance.

Hunter continued, 'We also are pleased by the steady progress we are making in establishing our patented and proprietary SuperVision device as the night vision system of choice in our target markets. More than 80 police departments and state and federal agencies throughout the country have purchased our high-definition night vision system to date. Positive customer feedback and increasing re-orders confirm our view that SuperVision offers a price/performance profile unmatched by any other night vision technology.'
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 ProSecurityZone.com
Netgains Logo