NAPCO Security Technologies To Attend Lake Street Capital Markets Best Ideas Growth Conference

Rhea-AI Summary

NAPCO Security Technologies to attend Lake Street Capital Markets Best Ideas Growth Conference, highlighting record FY2023 results and school security products.

Positive

• Sales grew 18% YoY to $170 million in FY2023.
• Recurring revenues increased 30% YoY to $59.9 million with gross margins of 89%.
• Product portfolio for school security addresses urgent need in US.

Negative

• None.

AMITYVILLE, N.Y., Sept. 11, 2023 /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 management will be attending and hosting one on one meetings with investors at the Lake Street Capital Markets Best Ideas Growth Conference in New York, NY on September 14, 2023.

NAPCO management will host one on one meetings with investors at the conference throughout the day. The topics to be highlighted during the conference will include the company's recent record Fiscal Year 2023 results which had sales grow 18% year over year to a record $170 million and its recurring revenues which grew 30% year over year to $59.9 million dollars with gross margins of 89%. In addition, we will be discussing our line of school security and safety products that address the urgent need for securing the schools in the US. NAPCO has a product portfolio for school security that fits the needs of K-12's and large universities.   

To receive additional information, request an invitation or to schedule a one-on-one meeting, please contact your Lake Street Capital Markets sales representative or Patrick McKillop, Vice President of Investor Relations for NAPCO at pmckillop@napcosecurity.com.  

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  

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SOURCE NAPCO Security Technologies, Inc.