Napco Security Stock Price, News & Analysis

NAPCO Security Technologies announced it was awarded the 2023 MVP at the ISC West conference, highlighting its successful booth and product demonstrations. The event saw attendance from over 27,000 security professionals, with NAPCO showcasing its range of security technologies, including the award-winning Prima Security Super Panel. This new all-in-one platform, set to launch in early FY'24, offers WiFi/cellular capabilities and aims to accelerate recurring revenue for dealers. The introduction of AirAccess integrates Starlink cellular technology, positioned to meet the needs of small/medium businesses. CEO Richard Soloway expressed optimism about increased engagement and future growth opportunities stemming from the event, reaffirming NAPCO's unique position in offering recurring services across multiple security categories.

NAPCO Security Technologies (NASDAQ: NSSC) is set to showcase its comprehensive line of security products at the ISC West 2023 trade show in Las Vegas from March 28-31. The company is recognized as the only single-source manufacturer of fully integrated security solutions, including fire alarms, access control, and locking products. An estimated 30,000 security professionals are expected to attend the event. CEO Richard Soloway expressed optimism about the booth's design and the potential for record-breaking sales leads. NAPCO continues to position itself for growth in the expanding electronic security market.

NAPCO Security Technologies, Inc. announced a secondary public offering of 2,100,000 shares at $31.50 per share, led by its Selling Stockholders, including Chairman Richard L. Soloway and CFO Kevin S. Buchel. The offering is set to close on February 13, 2023, pending customary conditions. Notably, NAPCO will not receive any proceeds from this sale, as it involves current shareholders selling shares. An option for underwriters to purchase an additional 300,000 shares is also included. This offering follows SEC regulations established under prior filings.

NAPCO Security Technologies (NASDAQ: NSSC) announced a secondary public offering of common stock by its Chairman and CEO, Richard L. Soloway, and CFO Kevin S. Buchel. The sale will not involve the issuance of new shares by NAPCO, meaning no dilution for existing shareholders. The underwriters have a 30-day option to buy additional shares at the public offering price. Renowned firms Needham & Company and William Blair & Company are joint book-runners for this offering. This transaction is conducted under a previously effective SEC registration statement, and NAPCO will not receive any proceeds from the sale.

NAPCO Security Technologies (NSSC) reported record-breaking financial results for Q2 fiscal 2023, with net sales rising 27% to $42.3 million compared to $33.4 million last year. Recurring service revenue surged 35% to $14.9 million, contributing to a gross margin of 89%. The net income reached a historic $8.4 million, up 714%, with earnings per share at $0.23. Adjusted EBITDA also saw a substantial increase of 232%, totaling $10.3 million. Despite growth, cash provided by operating activities decreased to $1.1 million due to increased inventories. Management anticipates strong demand to continue through fiscal 2023 amidst supply chain challenges.

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.