NAPCO Security Technologies to Introduce New Products at ISC West 2021
NAPCO Security Technologies, a leading manufacturer of electronic security devices, announced its participation in the ISC West 2021 trade show in Las Vegas from July 19-21, 2021. The company will unveil its new AirAccess cloud-based access control solution, aimed at generating recurring revenue and addressing installation challenges. Additional products include Lectra Locks and E-Access systems, targeting significant market opportunities. CEO Richard Soloway expressed optimism about future revenue growth from these innovations, emphasizing NAPCO's unique integrated product line.
- Introduction of AirAccess, which enables recurring revenue from access control systems.
- New products like Lectra Locks and E-Access targeting large market opportunities.
- CEO's optimism regarding future revenue growth from innovative product offerings.
- None.
AMITYVILLE, N.Y., July 19, 2021 /PRNewswire/ -- NAPCO Security Technologies, Inc. (NASDAQ: NSSC), one of the leading manufacturers and designers of high-tech electronic security devices, wireless recurring communication services for intrusion and fire alarm systems as well as a leading provider of school safety solutions today announced it will be showcasing new products at the ISC West 2021 trade show taking place in Las Vegas, NV July 19-21, 2021 at the Sands Expo Center.
During the ISC West show NAPCO will be showcasing its new AirAccess cloud-based access control solution to dealers attending the show. AirAccess allows NAPCO and its dealers and integrators to generate recurring revenue from access control jobs which has not been possible previously with the security industry's access control products. AirAccess is unique and ushers in a new generation of access control. AirAccess eliminates the need for expensive upfront hardware costs to end users and also uses cellular communications bypassing the end users IT network which has been a problem for dealers installing access control systems in the past. Mobile App, mobile credentials, text-notifications & real-time alarm monitoring option are other exciting features of the AirAccess system. NAPCO believes that the market for cloud-based access control could be in the billions of dollars.
Additional new products to be showcased include the new Lectra® Locks from NAPCO's Marks Division and E-Access from Continental Access. Lectra locks are electrified mortise & cylindrical locks which offer dramatic savings in time and labor over electric strikes and also allow for easy retrofit of standard locksets. Lectra Locks are ideal for stairwell doors (w/ fire alarm integration), man-traps (w/ enterprise access control) and receptionist buzz-in applications. Continental Access division's new E-Access embedded access control platform is a self-contained and ready out-of-the box solution, for a few doors and scalable to over 500. Features include choice of 1-,2-and 4-Door expandable controllers, no-touch Bluetooth credentials & 1-Click issuing. E-Access is ideal for standalone retail stores and restaurants as examples. NAPCO believes that the market opportunity for both Lectra and E Access products are very large and could be well above a billion dollars.
Richard Soloway CEO of NAPCO commented "We are excited to be back at ISC West this year to highlight the previously mentioned new products like AirAccess which will generate more recurring revenue for NAPCO going forward. NAPCO prides itself as the only manufacturer of an integrated product line of security products encompassing alarms, locking products, and access control products. NAPCO will now generate recurring revenue from each of these categories and we believe the future remains bright for our Company."
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
Director 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.
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