AMITYVILLE, N.Y., March 12,
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 hosting one
on one meetings at the J.P. Morgan Industrials Conference at 383
Madison Avenue in New York
City.
NAPCO management will host meetings at the Conference on
March 14. The topics to be
highlighted will include the company's recent fiscal second quarter
2024 results which had record sales of $47.5
million and its 25% year over year recurring revenue growth
to $18.5 million dollars representing
approximately 40% of total revenue with corresponding gross margins
of 90%. The annual run rate for recurring revenue is now
$76.5 million based on January 2024 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.
To receive additional information, request an in person one on
one invitation, please contact your J.P. Morgan 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.