AMITYVILLE, N.Y., July 17, 2017 /PRNewswire/ -- NAPCO Security
Technologies (NASDAQ: NSSC), one of the world's leading solutions
providers and manufacturers of high-tech electronic intrusion
security, IoT connected home, video and fire systems, as well as
enterprise-class access control and door locking products today
announced that its Starlink Dual Path Fire Communicator is now
commercially available to its dealers and integrators in the
US.
The Starlink Dual Path Fire Communicator is an important
addition to the Starlink Commercial Fire Alarm Communicators
Series, as it will open new large metropolitan markets such as
New York City and Los Angeles where local fire codes require
both cellular and IP path communication of alarm signals. Starlink
Fire Communicators are used in commercial applications such as
hotels, office and hospital buildings. Dealers and integrators will
be able to offer accounts the ability to save money by replacing
the two phone lines typically required in fire alarm systems for
commercial buildings, which cost thousands of dollars per year.
NAPCO's sole path Starlink Fire Alarm Series Communicator (the
first version offered) has contributed to the Company's rapidly
growing recurring revenue stream over the last few years. As of the
fiscal quarter ended March 31, 2017
the recurring revenue line has grown by 68% year over year and has
increased 67% for the first nine months of fiscal 2017. This
pattern of growth has been repeated in multiple quarters over the
past couple of years and the new Dual Path Series Communicator
should add to the strong growth already seen.
Richard Soloway, CEO of
NAPCO, commented, "We are excited to have this new addition to
the Starlink Fire Communicators Series. Our first Starlink Fire
Communicator has been a great success thus far and we believe that
the new Dual Path Communicator will experience the same pattern of
rapid growth. This is an example of our efforts to produce more
products that will help grow the recurring revenue business line
and profits for NAPCO. Dealers and integrators are already familiar
with our Starlink Communicators and this is a great addition to
that product offering."
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc. is one of the world's leading
solutions providers and manufacturers of high-technology electronic
security (including recurring service fee revenue), IoT connected
home, video, fire alarm, access control and door locking systems.
The Company consists of four Divisions: NAPCO, its security and IoT
connected home segment, 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 involve
numerous risks and uncertainties. Actual results, performance or
achievements could differ materially from those anticipated in such
forward-looking statements as a result of certain factors,
including those set forth in the Company's filings with the
Securities and Exchange Commission.
Contact:
Patrick McKillop
Director of Investor Relations
NAPCO Security Technologies, Inc.
OP: 800-645-9445 x 374
CP: 516-404-3597
pmckillop@napcosecurity.com
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SOURCE NAPCO Security Technologies, Inc.