NAPCO Security Technologies Awarded School Security Project for the Pasadena Unified School District, Pasadena California

Rhea-AI Summary

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.

Positive

• Secured new contract with large school district (23 schools, 14,000 students)
• Project covers district-wide implementation, indicating substantial contract size
• Products meet California state regulatory requirements, positioning for similar contracts

Negative

• None.

Insights

Market Research Analyst

The Pasadena USD contract represents a strategic win in the K-12 education security sector, though financial terms weren't disclosed. This deal reinforces NAPCO's market position in the growing school safety segment, particularly significant given California's stringent security requirements and the district's size of 23 schools serving 14,000 students.

The selection of NAPCO's Marks USA lockdown solutions for a district-wide implementation demonstrates strong product-market fit and could serve as a reference case for other California districts facing similar compliance requirements. The education security market remains a key growth driver, with increasing state-level mandates creating sustained demand for security upgrades.

While positive for brand positioning and market share, without contract value details, the immediate financial impact is unclear. However, the deal supports NAPCO's expansion in the education sector and could lead to recurring revenue through maintenance and upgrades.

AMITYVILLE, N.Y., Nov. 6, 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 today is announcing that its locking products have been selected for use in a school security project at the Pasadena Unified School District in Pasadena California. The school district has over 14,000 students attending classes at 23 schools.

The project includes a district wide update to address all classroom doors, K-12 to meet current State of California requirements. Pasadena USD determined that the Marks USA LA318GJ Intruder Lockdown mortise lock with inside indicator and the Marks USA 195DB Intruder Lockdown cylindrical lock are the best solutions to meet these requirements. Both solutions are available in SFIC removable core cylinder configurations to meet the district key system requirements. 

Richard Soloway, CEO of NAPCO commented, "We are very happy to report that this school security project at the Pasadena Unified School District is being added to our roster of safer schools. The security of our schools remains a very important issue, as we continue to witness horrific events around the country. NAPCO continues to be a leader in school security products and solutions, and we would like to thank Pasadena Unified School District for choosing our products and being a highly valued customer."

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-security-technologies-awarded-school-security-project-for-the-pasadena-unified-school-district-pasadena-california-302296983.html

SOURCE NAPCO Security Technologies, Inc.

FAQ

What products did NAPCO Security (NSSC) supply to Pasadena Unified School District?

NAPCO Security supplied Marks USA LA318GJ Intruder Lockdown mortise locks and Marks USA 195DB Intruder Lockdown cylindrical locks for classroom doors across the district.

How many schools and students are involved in NAPCO's (NSSC) Pasadena USD security project?

The project covers 23 schools serving over 14,000 students in the Pasadena Unified School District.

What state requirements does NAPCO's (NSSC) security solution meet in Pasadena USD?

The security solutions meet California state requirements for classroom doors, featuring SFIC removable core cylinder configurations compatible with the district's key system.