Revenue for the three months ended December 31, 2012 was $157,000. This compares to revenue of $325,000 for the first quarter of fiscal 2012. The net loss for the first quarter of fiscal 2013 was $494,000, or $0.02 per share. This compares to a net loss for the first quarter of fiscal 2012 of $653,000, or $0.03 per share.
Selling, general and administrative expenses decreased to $416,000 for the first quarter of fiscal 2013 from $526,000 for the first quarter of fiscal 2012.
At December 31, 2012, Xenonics reported working capital of $193,000, and a current ratio of 1.1-to-1. Inventories were $2,173,000. In January 2013, the Company completed a debt financing for $450,000.
"Our fiscal first quarter is historically our seasonally weakest quarter of the year, and this quarter was no exception. We expect improved performance going forward. The entire $1,000,000 NightHunter order we previously announced is scheduled to ship in the current quarter. We expect additional substantial orders for our NightHunter and SuperVision products to be announced in the coming months. As always, we remain focused on cost control as we pursue a variety of 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 the first quarter of fiscal 2013. The dial-in number is (866) 713-8567, passcode #84453921. 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 #30617190, 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.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
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Selling, general and administrative
Research and development
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|XENONICS HOLDINGS, INC.|
|CONDENSED CONSOLIDATED BALANCE SHEETS|
|December 31,||September 30,|
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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 as of December 31, 2012 and September 30, 2012
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Total Shareholders' Equity
Total Liabilities and Shareholders' Equity