NAPCO Introduces a Range of Innovative Security Products at ISC East 2024, Many Feature Recurring Service Revenue (RSR)

Rhea-AI Summary

NAPCO Security Technologies (NASDAQ: NSSC) showcased its latest security products at ISC East 2024 in New York City. The company's 20'x50' booth featured interactive demonstrations of new products designed to generate Recurring Service Revenue (RSR). Key product launches included the MVP Access Control and Locking System, StarLink Fire Max2, StarLink Intrusion Max2, FireLink Control Panel System, Prima Alarm System Accessories, and specialized electronic locks. The company deployed 25 sales representatives and trainers, conducting product demonstrations and educational sessions focused on RSR generation opportunities.

Positive

• Introduction of multiple new products with Recurring Service Revenue (RSR) potential
• Strong presence at major industry trade show with large-scale booth and 25-person sales team
• Implementation of lead capture system for post-show sales follow-up

Negative

• None.

Insights

Market Research Analyst

The product showcase at ISC East 2024 highlights NAPCO's strategic focus on Recurring Service Revenue (RSR) across multiple product lines. The company's prominent booth placement and extensive product demonstrations indicate strong market positioning, but more importantly, the emphasis on RSR-generating products signals a shift toward more predictable revenue streams.

The introduction of dual-carrier support in StarLink products addresses market reliability concerns while creating additional revenue opportunities. The MVP Access Control system and FireLink Control Panel represent significant moves into the commercial sector, potentially expanding NAPCO's market share in higher-value installations.

While the trade show presence is impressive, the real value lies in the company's systematic approach to converting traditional security products into RSR generators, which could lead to more stable and growing revenue streams for both NAPCO and its dealers.

AMITYVILLE, N.Y., Nov. 25, 2024 /PRNewswire/ -- NAPCO Security Technologies, Inc. (NASDAQ: NSSC), one of the leading designers and manufacturers of high-tech electronic security devices, wireless recurring communication services for intrusion, fire alarm, access control and locking systems as well as a leading provider of school safety solutions, recently showcased its products at the International Security Conference East. The Event was held at the Javits Center in New York City.

ISC East, the premier security trade show on the East Coast, brings together security dealers, installers, integrators, consultants, and practitioners from corporate, government, and first responder sectors. Held annually in New York City, the event serves as a vital platform for networking, learning, and exploring the latest security technologies and solutions.

Richard Soloway, Founder and CEO of NAPCO reflected on the Company's successful presence at this year's event, "Our booth was strategically positioned at the forefront of the show floor, offering a prominent and welcoming space for visitors as they arrived via the escalator. Spanning 20'x50' and featuring a bright, innovative design, it stood out as one of the most impressive, walk-in booths at the show. Throughout the event, our booth was bustling with activity, hosting both current and prospective customers. Our team of 25 sales representatives and trainers delivered interactive product demonstrations across dozens of displays, showcasing both existing and newly launched offerings. Additionally, we conducted classroom sessions nearby to educate attendees on leveraging our groundbreaking MVP Access Control and Locking System to generate Recurring Service Revenue (RSR) for their businesses and NAPCO. To ensure continued engagement post-show, we scanned visitor badges at both the booth and classroom, enabling our sales and customer service teams to follow up and foster new sales opportunities."

Highlighting NAPCO's New Products, the Company introduced several cutting-edge security solutions designed to drive RSR and meet diverse market needs:

• MVP Access Control and Locking System: Featuring innovative capabilities to generate RSR.
• StarLink Fire Max2: A fire reporting radio combining AT&T and Verizon carrier services, with RSR.
• StarLink Intrusion Max2: An intrusion reporting radio with dual-carrier support and RSR.
• FireLink Fire Control Panel System: Scalable solutions for commercial buildings with integrated fire reporting radio and RSR.
• Prima Alarm System Accessories: Including wireless solar-powered doorbell cameras and dealer takeover modules, all supporting RSR.
• Specialized Locks: Electronic and mechanical locks tailored for multi-tenant/multi-family buildings.
• Trilogy Locks: Touchscreen-operated locks offering advanced security.

Summing up the event, Soloway shared, "ISC East 2024 was a resounding success. The exposure of our exciting new products to thousands of attendees solidifies NAPCO's trajectory for continued growth and innovation. I extend my heartfelt thanks to our exceptional team for their hard work in establishing NAPCO as the standout company of the show."

About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc., is one of the world's leading manufacturers and service providers of high-tech electronic security devices as well as a leading provider of school safety solutions. The Company consists of four Divisions: NAPCO, plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. Headquartered in Amityville, New York, its products are installed by tens of thousands of security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for innovation, technical excellence and reliability, positioning the Company for growth in the multi-billion dollar and rapidly expanding electronic security market. For additional information on NAPCO, please visit the Company's web site at http://www.napcosecurity.com.

Safe Harbor Statement 
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, but are not limited to, statements relating to the impact of COVID-19 pandemic; the growth of recurring service revenue and annual run rate; the introduction of new access control and locking products; the opportunities for fire alarm products; and our ability to execute our business strategies. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those risk factors set forth in the Company's filings with the Securities and Exchange Commission, such as our annual report on Form 10-K and quarterly reports on Form 10-Q. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and the Company undertakes no duty to update such information, except as required under applicable law.

Contact:
Francis J. Okoniewski III
Vice President, Investor Relations
NAPCO Security Technologies, Inc.
800-645-9445 x 374 
Mobile: 516-404-3597
fokoniewski@napcosecurity.com

View original content:https://www.prnewswire.com/news-releases/napco-introduces-a-range-of-innovative-security-products-at-isc-east-2024-many-feature-recurring-service-revenue-rsr-302314862.html

SOURCE NAPCO Security Technologies, Inc.

FAQ

What new products did NAPCO Security Technologies (NSSC) introduce at ISC East 2024?

NAPCO introduced the MVP Access Control and Locking System, StarLink Fire Max2, StarLink Intrusion Max2, FireLink Fire Control Panel System, Prima Alarm System Accessories, and specialized electronic locks, all designed to generate Recurring Service Revenue.

How did NAPCO (NSSC) showcase its products at ISC East 2024?

NAPCO showcased its products in a 20'x50' booth at the front of the show floor, featuring interactive demonstrations by 25 sales representatives and trainers, plus nearby classroom sessions focused on the MVP Access Control and Locking System.

What is the Recurring Service Revenue (RSR) strategy for NAPCO Security (NSSC) in 2024?

NAPCO's RSR strategy involves launching multiple new products with recurring revenue capabilities, including the MVP Access Control System, StarLink Fire Max2, StarLink Intrusion Max2, and FireLink Control Panel System.