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NAPCO Security Technologies, Inc. (NASDAQ: NSSC) is a leading manufacturer and designer of high-tech electronic security equipment. Based in Amityville, New York, NAPCO’s products include intrusion and fire alarm systems, access control, door locking systems, and video surveillance products. These products are marketed and installed by thousands of security professionals worldwide, serving commercial, residential, industrial, institutional, and governmental applications.
The company, comprising NAPCO and its three wholly-owned subsidiaries—Alarm Lock, Continental Instruments, and Marks USA—boasts a reputation for innovation, reliability, and technical excellence. This has positioned NAPCO as a key player in the rapidly expanding multi-billion dollar electronic security market.
In recent developments, NAPCO achieved record-breaking financial results for fiscal 2024. The company reported first-quarter sales of $41.7 million and net income of $10.5 million, marking the highest Q1 net income in its history. Recurring service revenues surged by 25%, contributing significantly to overall sales and earnings growth. The second and third quarters continued this upward trend, with revenues of $47.5 million and $49.3 million respectively, setting consecutive records for highest quarterly sales. The net income also saw substantial increases, reaching $12.6 million in Q2 and $13.2 million in Q3. NAPCO’s strong balance sheet, with $87.5 million in cash and no debt, underscores its financial robustness.
Among its latest innovations, NAPCO introduced Prima by NAPCO, an All-in-One Panel designed for security, fire, video, and connected home applications. This product aims to capture a significant segment of the residential and small business security market. With built-in Wi-Fi/cellular radio communications, the panel offers customer alert notifications and video and smart home subscription options, enhancing the company’s ability to generate recurring revenue.
NAPCO’s commitment to growth is evident in its strategic appointments and promotions within the management team. Kevin Buchel was promoted to President and COO while retaining his CFO role, and Michael Carrieri became the Executive Vice President of Engineering & Chief Technology Officer. Andrew Vuono joined as Senior Vice President of Finance and Chief Accounting Officer, expected to start on June 3rd.
The company's focus remains on further penetrating key markets such as school and classroom security, healthcare, and retail loss prevention. This strategic direction is reinforced by continuous product innovation and technical superiority. NAPCO remains poised for sustained growth and profitability, aiming to maintain its leadership position in the electronic security sector.
NAPCO Security Technologies (NASDAQ: NSSC) announces securing a contract with Pasadena Unified School District to provide security locking solutions for their 23 schools serving over 14,000 students. The district-wide project will implement Marks USA LA318GJ Intruder Lockdown mortise locks and Marks USA 195DB Intruder Lockdown cylindrical locks to meet California state requirements for classroom doors. Both solutions feature SFIC removable core cylinder configurations compatible with the district's key system requirements.
NAPCO Security Technologies (NASDAQ: NSSC) reported record Q1 fiscal 2025 results with net sales increasing 6% to $44.0 million and net income rising 7% to $11.2 million. Recurring service revenue (RSR) grew 22% to $21.1 million with a 91% gross margin. The company's cellular communication device sales increased 93% year-over-year, representing 70% of Intrusion and Access Alarm product sales. However, equipment revenue decreased 6%, partially due to an 8% decline in door locking sales. The Board declared a quarterly dividend of $0.125 per share and authorized repurchase of up to 1,000,000 shares.
NAPCO Security Technologies (NASDAQ: NSSC) will announce its Fiscal First Quarter 2025 financial results on Monday, November 4, 2024, before market open. The company will host a conference call for analysts and investors at 11 A.M. ET on the same day. The call will be accessible via webcast through the company's Investor Relations website or by dialing in. NAPCO is a leading manufacturer of electronic security devices and provider of school safety solutions, operating through four divisions: NAPCO, Alarm Lock, Continental Instruments, and Marks USA.
NAPCO Security Technologies (NASDAQ: NSSC), a leading manufacturer of high-tech electronic security devices, will attend D.A. Davidson's 23rd Annual Diversified Industrials & Services Conference on September 19, 2024 in Nashville, TN. The company's management will host one-on-one meetings with investors during the event.
NAPCO is renowned for its innovative security solutions, including wireless communication services for intrusion, fire alarm, access control, and locking systems. The company also provides school safety solutions and consists of four divisions: NAPCO and three wholly-owned subsidiaries - Alarm Lock, Continental Instruments, and Marks USA.
Investors interested in meeting with NAPCO representatives can contact their D.A. Davidson sales representative or reach out to Francis Okoniewski, Vice President of Investor Relations at NAPCO.
NAPCO Security Technologies (NASDAQ: NSSC) reported record financial results for Q4 and fiscal year 2024. Highlights include:
- Q4 net sales increased 13% to $50.3 million
- Q4 net income rose 28% to $13.5 million
- Full-year net sales grew 11% to $188.8 million
- Full-year net income surged 84% to $49.8 million
- Recurring service revenue for Q4 increased 27% to $20.3 million
- Adjusted EBITDA for the year increased 72% to $58.9 million
The company's strong performance was driven by growth in recurring service revenues and robust sales from its locking product lines. NAPCO increased its quarterly dividend by 25% to $0.125 per share, reflecting its strong financial position.
NAPCO Security Technologies (NASDAQ: NSSC), a prominent designer and manufacturer of electronic security devices and wireless communication services, has been awarded the 2024 ESX Innovation Award for its new Super Dual™ StarLink Fire Max2 Communicator. This cutting-edge device, designed for fire and life safety, meets dual path fire code requirements by utilizing both Verizon and AT&T networks, thereby ensuring reliable, supervised alarm reporting without the need for an IP connection. The product is UL864 listed and dynamically switches between carriers to enhance life-safety and cybersecurity while reducing installation costs and IT-related concerns. The initial market response has been positive with encouraging sales orders.
NAPCO Security Technologies, Inc. (NSSC) reported record revenues, net income, and adjusted EBITDA for Q3 of fiscal 2024, with net sales increasing by 13% to $49.3 million, net income increasing by 38% to $13.2 million, and adjusted EBITDA increasing by 37% to $15.6 million. The company also declared a quarterly dividend of $0.10 per share. Recurring service revenues saw a 29% increase to $19.5 million with a gross margin of 92%. NAPCO's financial performance was the strongest in its history, driven by growth in recurring revenues and strong hardware sales.
NAPCO Security Technologies, Inc. (NSSC) announced management and organizational changes to sustain recent growth. Kevin Buchel promoted to President & Chief Operating Officer, Michael Carrieri to EVP of Engineering & CTO, Andrew Vuono as SVP of Finance, and Michael Almes as Controller.
NAPCO Security Technologies, Inc. (NSSC) will announce its Fiscal Third Quarter 2024 results on May 6, 2024. The company is a leading designer and manufacturer of high-tech electronic security devices, wireless communication services, and school safety solutions. It will release financial results before the market opens, followed by a conference call for analysts and investors. NAPCO consists of four divisions and has a strong presence in the electronic security market.
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