NAPCO Security Technologies Announces Partnership with PASS K-12 (Partner Alliance for Safer Schools)

Rhea-AI Summary

NAPCO Security Technologies, Inc. (NASDAQ: NSSC) has partnered with the Partner Alliance for Safer Schools (PASS K-12) to enhance school security solutions amidst a rise in school shootings, with 296 incidents reported in 2022. This partnership aims to provide comprehensive guidelines for improving school safety. The Department of Justice has allocated approximately $190 million for school security upgrades, emphasizing the urgent need for effective security systems. NAPCO has a strong reputation in the education sector, offering innovative and reliable security technology tailored for schools.

Positive

• Partnership with PASS K-12 enhances market position in school security solutions.
• Access to government funding programs for school security upgrades.
• Reputation as a trusted provider in major school districts.

Negative

• Escalating incidents of school shootings may indicate increased competition in the security market.

AMITYVILLE, N.Y., Dec. 13, 2022 /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 today announced that it has recently become a PASS Partner (Partner Alliance for Safer Schools) as part of its commitment to help provide more school and campus security solutions, in the face of the escalating violence and tragedies nationwide.

PASS K-12 is a well-respected program that offers comprehensive information and objective guidelines for securing school facilities, created by a multidisciplinary team spanning security, education, infrastructure, and corporate sectors. The mission of PASS is to provide school administrators, school boards and public safety and security professionals with information, tools and insight needed to implement a tiered approach to securing and enhancing the safety of school environments based on their individual needs, nationwide best practices, and making the most effective use of resources available.

In 2022 there have been more school shootings than any other year with 296 incidents taking place surpassing the 250 that took place on 2021. The need for school security solutions is urgent and many schools continue to lack the proper equipment which can protect their staff and students. Schools have access to multiple funding programs from the US government as well as state and local programs. Recently in October of this year the Department of Justice awarded approximately $190 million dollars to schools for security upgrades.

As a long-time trusted source in some of the largest school districts and best-known educational institutions across the country, NAPCO Security Technologies, and its divisions, Marks USA, Alarm Lock, and Continental Access have developed a wide range of security technology solutions, to fit any classroom, campus & budget for school and classroom locking, access control, video and security-management.

Richard Soloway CEO of NAPCO commented, "We believe that the school security market is a large multi-billion dollar plus opportunity and we are excited to announce this partnership with PASS K-12 as we remain committed to providing the best solutions for schools and universities as they look to protect their students and staff."

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.

Contacts:
Patrick McKillop
Vice President of Investor Relations
NAPCO Security Technologies, Inc.
800-645-9445 x 374
Mobile: 516-404-3597
pmckillop@napcosecurity.com

 

View original content:https://www.prnewswire.com/news-releases/napco-security-technologies-announces-partnership-with-pass-k-12-partner-alliance-for-safer-schools-301701424.html

SOURCE NAPCO Security Technologies, Inc.

FAQ

What is the significance of NAPCO Security Technologies' partnership with PASS K-12?

The partnership aims to bolster school security solutions through comprehensive guidelines and resources.

How many school shootings occurred in 2022 according to NAPCO's press release?

There were 296 school shootings reported in 2022.

What funding opportunities are available for school security upgrades?

The Department of Justice awarded approximately $190 million for security upgrades in schools.

What is the stock symbol for NAPCO Security Technologies?

The stock symbol for NAPCO Security Technologies is NSSC.

How does NAPCO Security Technologies plan to address the growing need for school safety?

NAPCO plans to provide innovative security solutions and partner with organizations like PASS K-12.