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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Xenonics Holdings Inc (CE) | USOTC:XNNHQ | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
XENONICS HOLDINGS, INC. (OTCQB:XNNH) today announced financial results for the third quarter and first nine months of fiscal 2014.
Revenue for the three months ended June 30, 2014 decreased to $257,000. This compares to revenue of $373,000 for the third quarter of fiscal 2013. The net loss for this year's third quarter was $446,000, or $0.02 per basic and diluted share. This compares to a net loss for the third quarter of fiscal 2013 of $480,000, or $0.02 per basic and diluted share.
For the nine months ended June 30, 2014, revenue decreased to $337,000 compared to $1,492,000 for last year's first nine months. The net loss for the first nine months of fiscal 2014 was $1,625,000, or $0.07 per basic and diluted share. This compares to a net loss for the first nine months of fiscal 2013 of $1,267,000, or $0.05 per basic and diluted share.
"We expect to receive significant orders from military and international customers in the weeks and months ahead. We currently are arranging additional financing to support our operations, and hope to complete this process soon," said Chairman Alan Magerman.
Conference Call
Xenonics has scheduled a conference call at 11:00 a.m. EDT this morning to discuss its results for the quarter. To participate in the call, dial (877) 299 4454, passcode #94273379. 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 2:00 p.m. EDT at this same Internet address. For a telephone replay, dial (888) 286-8010, passcode #46943824, after 2:00 p.m. EDT.
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 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.
XENONICS HOLDINGS, INC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three months ended
Nine months ended
June 30,
June 30,
2014
2013
2014
2013
Rounded to the nearest thousand, except per share amounts
(unaudited)
(unaudited)
Revenues
$
257,000
$
373,000
$
337,000
$
1,492,000
Cost of goods sold
155,000
247,000
200,000
826,000
Gross profit
102,000
126,000
137,000
666,000
Selling, general and administrative
378,000
380,000
1,177,000
1,264,000
Research and development
57,000
99,000
285,000
327,000
Loss from operations
(333,000)
(353,000)
(1,325,000)
(925,000)
Other income/(expense):
Interest (expense)
(113,000)
(127,000)
(298,000)
(340,000)
Loss before provision for income taxes
(446,000)
(480,000)
(1,623,000)
(1,265,000)
Income tax provision
--
--
2,000
2,000
Net Loss
$
(446,000)
$
(480,000)
$
(1,625,000)
$
(1,267,000)
Net loss per share:
Basic and fully-diluted
$
(0.02)
$
(0.02)
$
(0.07)
$
(0.05)
Weighted average shares outstanding:
Basic and fully-diluted
24,976,000
24,976,000
24,976,000
24,976,000
XENONICS HOLDINGS, INC
CONDENSED CONSOLIDATED BALANCED SHEETS
June 30, September 30, 2014 2013
Rounded to the nearest thousand, except par value
(unaudited) Assets Current Assets: Cash $ 9,000 $ 220,000 Accounts receivable 2,000 30,000 Inventories 1,017,000 1,154,000 Other current assets 23,000 27,000 Total Current Assets 1,051,000 1,431,000 Inventories 480,000 480,000 Equipment, furniture and fixtures at cost, net 5,000 11,000 Goodwill 375,000 375,000 Other assets 48,000 17,000 Total Assets $ 1,959,000 $ 2,314,000 Liabilities and Shareholders' Deficit Current Liabilities: Accounts payable $ 711,000 $ 399,000 Accrued expenses 471,000 211,000 Accrued payroll and related taxes 280,000 91,000 Notes payable - current portion, net of debt discount 2,262,000 -- Total Current Liabilities 3,724,000 701,000 Notes payable, less current portion, net of debt discount 43,000 1,962,000 Total Liabilities 3,767,000 2,663,000 Commitments and contingencies Shareholders' Deficit:Preferred shares, $0.001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding
-- --Common shares, $0.001 par value, 50,000,000 shares authorized; 24,976,000 shares issued and outstanding at June 30, 2014 and September 30, 2013
25,000 25,000 Additional paid-in capital 27,044,000 26,879,000 Accumulated deficit (28,877,000) (27,253,000) Total Shareholders' Deficit (1,808,000) (349,000) Total Liabilities and Shareholders' Deficit $ 1,959,000 $ 2,314,000
Investor Contact:Berkman Associates310-477-3118info@BerkmanAssociates.comorCompany Contact:Xenonics Holdings, Inc.Alan Magerman, 760-477-8900Chairmanxenonics@xenonics.com
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