AMITYVILLE, N.Y., Jan. 16,
2024 /PRNewswire/ -- NAPCO Security Technologies,
Inc. (NASDAQ: NSSC), one of the leading designers and manufacturers
of high-tech electronic security devices, wireless recurring
communication services for intrusion, fire alarm, access control
and locking systems as well as a leading provider of school safety
solutions today is announcing that management will be presenting
and hosting one on one meetings and Zoom calls with investors at
the 26th Annual Needham Growth Conference in
New York.
NAPCO management is scheduled to present at 10:15 AM ET on Thursday, January 18 and host
in person meetings that day. Additionally, management will
host virtual meetings on January 19. The topics to be
highlighted during the conference will include the company's recent
fiscal first quarter 2024 results which had record sales of
$41.7 million and its 25% year over
year recurring revenue growth to $17.3
million dollars with corresponding gross margins of
90%. The annual run rate for recurring revenue is now
$72.5 million based on October 2023 recurring revenues. In
addition, we will be discussing the recent introduction of Prima by
NAPCO, a new All-in-One Panel for security, fire, video and
connected home which addresses an important mass segment of the
security market including residential and small business
systems.
The presentation will be webcast live and interested parties can
find a link to the webcast on the Investor Relations section of the
website (www.napcosecurity.com). To receive additional
information, request an in person one on one invitation or Zoom
invitation, please contact your Needham sales representative or
Francis Okoniewski, Vice President,
Investor Relations for NAPCO at
fokoniewski@napcosecurity.com.
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc., is one of the
world's leading manufacturers and service providers of high-tech
electronic security devices as well as a leading provider of school
safety solutions. The Company consists of four Divisions:
NAPCO, 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 are
based on current expectations, estimates, forecasts and projections
of future performance based on management's judgment, beliefs,
current trends, and anticipated product performance. These
forward-looking statements include, but are not limited to,
statements relating to the impact of COVID-19 pandemic; the growth
of recurring service revenue and annual run rate; the introduction
of new access control and locking products; the opportunities for
fire alarm products; and our ability to execute our business
strategies. Actual results, performance or achievements could
differ materially from those anticipated in such forward-looking
statements as a result of certain factors, including those risk
factors set forth in the Company's filings with the Securities and
Exchange Commission, such as our annual report on Form 10-K and
quarterly reports on Form 10-Q. Other
unknown or unpredictable factors or underlying assumptions
subsequently proving to be incorrect could cause actual results to
differ materially from those in the forward-looking statements.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance, or achievements.
You should not place undue reliance on these forward-looking
statements. All information provided in this press release is as of
today's date, unless otherwise stated, and the Company undertakes
no duty to update such information, except as required under
applicable law.
Contact:
Francis J. Okoniewski III
Vice President, Investor Relations
NAPCO Security Technologies, Inc.
800-645-9445 x 374
Mobile: 516-404-3597
fokoniewski@napcosecurity.com
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SOURCE NAPCO Security Technologies, Inc.