NAPCO Security Technologies Announces Project at Rutgers University

Rhea-AI Summary

NAPCO Security Technologies, Inc. (NasdaqGS: NSSC) announced a significant project involving the installation of its StarLink commercial fire alarm communicators at Rutgers University. This project encompasses the installation in 450 buildings across multiple university campuses, aimed at enhancing safety and emergency response capabilities. The StarLink system replaces outdated traditional telephone lines, generating recurring monthly revenue for NAPCO. CEO Richard Soloway expressed optimism regarding similar future projects, suggesting potential growth in recurring service revenues for the company.

Positive

• Installation of StarLink systems in 450 Rutgers buildings enhances safety and emergency response.
• Project expected to generate recurring monthly revenue (RMR) for NAPCO, contributing to financial growth.
• CEO's optimism about future projects suggests potential for further revenue growth in the long term.

Negative

• None.

AMITYVILLE, N.Y., July 7, 2020 /PRNewswire/ -- NAPCO Security Technologies, Inc. (NasdaqGS: NSSC), one of the world's leading manufacturers of high-tech electronic security devices that are fueling the Company's fast-growing recurring service revenues, as well as a leading provider of school safety solutions, today announced that its StarLink commercial fire alarm communicators are being used at Rutgers University. Rutgers, The State University of New Jersey encompasses three locations across 6,000 plus acres and has an enrollment of approximately 71,000 students and over 8,700 full and part time faculty.

The project which is currently in progress, includes the installation of StarLink dual path commercial fire alarm communicators in 450 Rutgers buildings. Rutgers undertook the upgrade to protect their students and employees with this communication technology, for response in case of emergency. The StarLink commercial fire alarm communicators replaced the traditional telephone lines of the fire alarm control panel, for central station reporting and emergency response.

Richard Soloway, CEO of NAPCO commented "We are very excited to announce this project for Rutgers. The StarLink commercial fire alarm communicators provide the locations with the latest technology available today ensuring safe and reliable notifications replacing the outdated and costly, unreliable traditional phone lines that were being used. StarLink communicators generate recurring monthly revenue (RMR) for NAPCO, which has been growing rapidly for the company during the last few years. We believe that there are many more projects like this one that need to be completed across the US which we believe will be beneficial to our business in the future."

About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc. is one of the world's leading manufacturers of high- tech electronic security devices that are fueling the Company's fast- growing recurring service revenues, 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 -1%26h%3D432116880%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D2630550-1%2526h%253D3723281859%2526u%253Dhttp%25253A%25252F%25252Fwww.napcosecurity.com%25252F%2526a%253Dhttp%25253A%25252F%25252Fwww.napcosecurity.com%26a%3Dhttp%253A%252F%252Fwww.napcosecurity.com&a=http%3A%2F%2Fwww.napcosecurity.com" rel="nofollow">http://www.napcosecurity.com.

Safe Harbor Statement
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission.

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

 

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SOURCE NAPCO Security Technologies, Inc.