Napco Security Stock Price, News & Analysis

NAPCO Security Technologies (NASDAQ: NSSC) will present virtually at the 23rd Annual Needham Growth Conference on January 13, 2021, at 9:15 AM ET. The presentation will focus on the shift to higher-margin recurring revenues from the Starlink Communicator product line and the urgent need for enhanced school security in the U.S. Investors can register for the live webcast through the company's investor relations website. NAPCO is a leading provider of high-tech security devices and school safety solutions, with a portfolio that addresses the needs of K-12 and large universities.

On December 18, 2020, NAPCO Security Technologies (NASDAQ: NSSC) announced that the underwriters of a secondary public offering fully exercised their option to purchase an additional 334,961 shares from Chairman Richard L. Soloway. The initial offering closed on December 15, 2020, with 2,233,071 shares sold at $26.00 each. NAPCO will not receive proceeds from this offering. Post-transaction, Soloway will retain about 20% of NAPCO's outstanding shares. B. Riley Securities and Needham & Company served as joint book-runners for the offering.

NAPCO Security Technologies (NASDAQ: NSSC) announced the pricing of an underwritten secondary public offering of 2,233,071 shares of common stock at $26.00 per share. The offering, which is expected to close on December 15, 2020, is being conducted by Richard L. Soloway, the Chairman and CEO. NAPCO will not receive any proceeds from this sale, and if the underwriters exercise their option for an additional 334,961 shares, he will maintain approximately 20% ownership of the company.

NAPCO Security Technologies, Inc. (NASDAQ: NSSC) has announced a secondary public offering of 2,233,071 outstanding shares of common stock, owned by its Chairman and CEO, Richard L. Soloway. The offering includes an option for underwriters to purchase up to 334,961 additional shares. NAPCO will not receive proceeds from this sale, as it involves existing shares. Following the offering, Soloway will retain approximately 20% ownership of the company. The offering aims to enhance liquidity in NAPCO's common stock.

NAPCO Security Technologies (NASDAQ: NSSC) reported its Q1 financial results for the period ending September 30, 2020. Net sales decreased 12% year-over-year to $23.2 million, attributed to COVID-19's impact on installation access, though recurring service revenue increased 36% to $7.3 million. Gross margin for recurring services improved to 84%. Net income fell to $2.3 million, or $0.13 per share. Cash and equivalents rose to $21.9 million. The company anticipates growth in recurring revenue streams, particularly in fire alarm systems and new access control products.

NAPCO Security Technologies, Inc. (NasdaqGS: NSSC) is set to release its Fiscal First Quarter 2021 financial results on November 2, 2020, before the market opens. This report will cover the quarter ending September 30, 2020. Following the release, a conference call will take place at 11 a.m. ET. Interested parties can join by calling the provided numbers or via the webcast on the company's website. NAPCO specializes in high-tech electronic security devices and solutions, contributing to its growing recurring service revenues.

NAPCO Security Technologies (NasdaqGS: NSSC) announced its participation in the Lake Street Capital Markets BIG4 Conference on September 17, 2020. Management will conduct virtual one-on-one meetings to discuss the company's shift towards recurring revenue streams and its commitment to enhancing school security in the U.S. Their innovative product portfolio targets both K-12 and larger educational institutions. The conference presentation will be live webcast, with registration available on the corporate website.

NAPCO Security Technologies (NasdaqGS: NSSC) announced its participation at the CL King 18th Annual Best Ideas Conference, scheduled for September 16, 2020, at 2 PM ET. The management will discuss the shift towards recurring revenue from their Starlink Communicator family and address the pressing need for school security in the US. Investors can register for the live webcast through the company’s website. NAPCO specializes in high-tech security solutions and serves commercial, residential, and governmental sectors worldwide.

NAPCO Security Technologies (NASDAQ: NSSC) reported its Q4 and fiscal year results for 2020, highlighting a 22% decrease in quarterly net sales to $23.0 million and a 2% decline in annual sales to $101.4 million. However, recurring service revenue surged by 35% in Q4 to $6.7 million, with a fiscal year increase of 38% to $24.0 million. Gross margins for recurring revenue reached 83%. Net income fell to $(1.9) million in Q4, with EPS at $(0.10), while annual net income decreased to $8.5 million, EPS at $0.46. Cash reserves increased to $18.2 million from $8.0 million year-over-year.