Napco Security Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 05, 2024 at 07:30 am EST
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Napco Security Technologies, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported revenue was USD 47.55 million compared to USD 42.31 million a year ago. Net income was USD 12.61 million compared to USD 3.93 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.34 compared to USD 0.11 a year ago.
For the six months, revenue was USD 89.22 million compared to USD 81.81 million a year ago. Net income was USD 23.09 million compared to USD 7.01 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.62 compared to USD 0.19 a year ago.
Napco Security Technologies, Inc. (NAPCO) manufactures and designs electronic security devices, cellular communication services and school safety solutions. The Company offers a diversified array of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. The products are used by commercial, residential, institutional, industrial and governmental applications, and are sold worldwide to independent distributors, dealers and installers of security equipment. NAPCO manufactures and markets various products for alarm systems, which include automatic communicators, control panels, combination control panels/digital communicators and digital keypad systems, fire alarm control panel and area detectors. It also manufactures a variety of door locking devices, including microprocessor-based electronic door locks with push button, card reader and bio-metric operation, door alarms, door locks and bolt locks.