Napco Security Stock Price, News & Analysis

NAPCO Security Technologies (NASDAQ: NSSC) has appointed David Paterson, former Governor of New York, to its Board of Directors as of February 3, 2023. Paterson brings extensive experience in crime and security issues, which he believes will help the company navigate challenges in an evolving security landscape. CEO Richard Soloway expressed confidence that Paterson’s background will contribute to NAPCO's ongoing success. NAPCO is a prominent manufacturer of high-tech electronic security devices and solutions, catering to various sectors, including commercial and government applications.

NAPCO Security Technologies (NASDAQ: NSSC) will announce its Fiscal Second Quarter 2023 results on February 6, 2023, prior to market opening. This quarter ended December 31, 2022. Following the release, a conference call will take place at 11 AM ET. Interested parties can participate by calling 1-877-407-4018 (domestic) or 1-201-689-8471 (international). The call will also be available for replay after 2 PM ET on the same day. NAPCO specializes in advanced electronic security devices and services, benefiting from a strong reputation for innovation and reliability in a growing market.

NAPCO Security Technologies, Inc. (NASDAQ: NSSC) announced its participation in the 25th Annual Needham Growth Conference on January 11, 2023, in New York. Management will present at 10:15 AM ET and conduct in-person meetings, with virtual follow-ups on January 12. Highlights include the company's record Q1 2023 results, featuring a 27% year-over-year sales growth to $39.5 million and a 35% increase in recurring revenues to $13.8 million. NAPCO aims to address security needs for over 131,000 K-12 schools and 5,300 colleges.

NAPCO Security Technologies (NASDAQ: NSSC) announced that its Alarm Lock Trilogy® Series Wireless Access Control Locks received the Maintenance Innovation Award in Safety. This recognition highlights innovations in products aiding efficient operations in commercial and institutional settings. The market for electronic locking products is projected to grow from $2 billion in 2022 to $8 billion by 2030, driven by rising crime and demand for school security solutions, where NAPCO is a leader.

NAPCO Security Technologies, Inc. (NASDAQ: NSSC) has partnered with the Partner Alliance for Safer Schools (PASS K-12) to enhance school security solutions amidst a rise in school shootings, with 296 incidents reported in 2022. This partnership aims to provide comprehensive guidelines for improving school safety. The Department of Justice has allocated approximately $190 million for school security upgrades, emphasizing the urgent need for effective security systems. NAPCO has a strong reputation in the education sector, offering innovative and reliable security technology tailored for schools.

NAPCO Security Technologies reported a record 27% increase in Q1 sales, totaling $39.5 million, with recurring service revenues up 35% to $13.8 million, reflecting strong demand for its security solutions. The company achieved net income of $6.4 million and an adjusted EBITDA of $8.3 million, marking a 77% rise year-over-year. Though net income fell 18% compared to last year's Q1, largely due to a prior debt extinguishment benefit, the recurring revenue run rate stands at approximately $58 million. NAPCO maintains a strong balance sheet with no debt and significant cash reserves, positioning itself well for continued growth.

NAPCO Security Technologies, Inc. (NSSC) is set to release its Fiscal First Quarter 2023 financial results on November 7, 2022. The results will cover the period ending September 30, 2022, with a conference call scheduled for 11 AM ET. Interested parties can join the call via phone or through a webcast available on the company's website. NAPCO is recognized for its high-tech electronic security products and services, targeting a growing market in school safety and electronic security solutions.

NAPCO Security Technologies (NASDAQ: NSSC) will showcase its advanced security products at ISC East 2022 in New York City from November 15-17. The company highlights its AirAccess cloud-based managed access control system, which aims to generate recurring revenue. Attendees will see various products, including wireless network locks and school security solutions, that integrate with AirAccess. CEO Richard Soloway expressed optimism about future revenue growth and the company's unique integrated product offering that spans alarms, locking systems, and access control.

NAPCO Security Technologies reported a strong financial performance for Q4 and the fiscal year ended June 30, 2022. Net sales surged 22% year-over-year to a record $43.2 million, contributing to a full-year increase of 26% to $143.6 million. Recurring service revenue rose 33% in Q4, reaching $12.7 million, with robust 87% gross margins. Net income for Q4 climbed 36% to $7.5 million, while FY net income increased 27% to $19.6 million. Adjusted EBITDA for Q4 was $9.3 million, up 29%, indicating strong operational growth despite supply chain challenges.