Invalid argument supplied for foreach() ... panels_export.module on line 116

When freshly installed and no panels exist, going to the tab "Bulk Export" gives the below warning message.

warning: Invalid argument supplied for foreach() in /var/www/cnsm/d12.great-lit.com/public/sites/all/modules/panels/panels_export/panels_export.module on line 116.

The code fix is to force the undefined variable $panels to be an array, thus the foreach sees an empty array and bypasses the foreach loop.

foreach ( $panels as $name => $panel) {
should be
foreach (array($panels) as $name => $panel) {