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NAPCO Security Technologies, Inc. (NSSC) reported record revenues, net income, and adjusted EBITDA for Q3 of fiscal 2024, with net sales increasing by 13% to $49.3 million, net income increasing by 38% to $13.2 million, and adjusted EBITDA increasing by 37% to $15.6 million. The company also declared a quarterly dividend of $0.10 per share. Recurring service revenues saw a 29% increase to $19.5 million with a gross margin of 92%. NAPCO's financial performance was the strongest in its history, driven by growth in recurring revenues and strong hardware sales.
NAPCO Security Technologies, Inc. (NSSC) announced management and organizational changes to sustain recent growth. Kevin Buchel promoted to President & Chief Operating Officer, Michael Carrieri to EVP of Engineering & CTO, Andrew Vuono as SVP of Finance, and Michael Almes as Controller.
NAPCO Security Technologies, Inc. (NSSC) will announce its Fiscal Third Quarter 2024 results on May 6, 2024. The company is a leading designer and manufacturer of high-tech electronic security devices, wireless communication services, and school safety solutions. It will release financial results before the market opens, followed by a conference call for analysts and investors. NAPCO consists of four divisions and has a strong presence in the electronic security market.