Xenonics Holdings, Inc. (XNNH) shares gain on strong Q2 results

Posted on: Wednesday, May 11th, 2011
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Xenonics Holdings, Inc. (OTCBB: XNNH) saw its shares gain 8.6% to 38 cents Wednesday, on word of a stronger second fiscal quarter. Volume for the shares totaled 19,700 shares, in contrast to an all-day average around 40,000.

The company, headquartered in Carlsbad, California, announced net income for the quarter ending March 31, 2011 of $231,000, or $0.01 per basic and diluted share, on revenue of $2,000,000. This compares to a net loss for the second quarter of fiscal 2010 of $951,000, or $0.04 per basic and diluted share, on revenue of $109,000.

According to Xenonics Chairman Alan Magerman, “Our second-quarter shipments were affected by the widely reported slowdown in defense procurement during the period, as Congress worked to complete a budget for the current fiscal year. With the budget now finally in place,” Magerman continued, “we are optimistic that order flow from our defense customers will accelerate in the months ahead, and we remain confident about the outlook for Xenonics’ growth and profitability in the year’s second half.”

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.

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Category: OTCBB, Penny Stocks
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