• CEPro_logo_blue-new
  • TOPICS
      • News
        • People & Places
        • Product Briefs
      • Projects
      • Events
      • Control
        • Central Vac
        • Energy/Power
        • HVAC/IAQ
        • Interfaces/Devices
        • Lighting
        • Motorized Shades
        • Whole House Systems
      • Audio/Video
        • Audio/Video
        • AV Accessories
        • AV Racks
        • Cabling
        • Displays
        • Furniture
        • Headphones
        • Home Theater
        • Media
        • Mounts/Lifts
        • Multiroom AV
        • Projectors/Screens
        • Speakers/Subwoofers
        • Wireless AV
      • Security
        • Access Control
        • Alarms/Sensors
        • Services/Platforms
        • Surveillance/Cameras
      • Business Support
        • Associations/Buying Groups
        • Cell Phone Boosters
        • Distributors/Reps
        • Operations
        • Recurring Revenue
        • Research
        • Sales/Marketing
        • Software Services
        • Tools/Testers
      • Networking
        • Cellular
        • Devices/Equipment
        • Wireless
        • Wired/Installation
      • Markets
        • Builders
        • Commercial
        • Design
        • Europe
        • Outdoors
        • Resimercial
        • Wellness
      • CE Pro Hub Pages
        • Bose
        • Savant
        • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-iQ
  • SUBSCRIBE
    • CEDIA SHOW UPDATES
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
  • DISCOVER
    • CEDIA Expo
      • September 29 – October 1
        Dallas, TX
      • VISIT SITE
    • KBIS
      • February 8 – 10
        Orlando, FL
      • VISIT SITE
    • Total Tech Summit
      • October 26 – 28
        Orlando, FL
      • VISIT SITE
    • Commercial Integrator
      • VISIT SITE
    • Security Sales
      • VISIT SITE
    • Tech Decisions
      • VISIT SITE
    • Campus Safety
      • VISIT SITE
    • Design Well
      • VISIT SITE
    • KBB Online
      • VISIT SITE
    • AV-iQ
      • VISIT SITE
    • CE Pro-iQ
      • VISIT SITE
  • Search
  • TOPICS
    • News
      • People & Places
      • Product Briefs
    • Projects
    • Events
    • Control
      • Central Vac
      • Energy/Power
      • HVAC/IAQ
      • Interfaces/Devices
      • Lighting
      • Motorized Shades
      • Whole House Systems
    • Audio/Video
      • Audio/Video
      • AV Accessories
      • AV Racks
      • Cabling
      • Displays
      • Furniture
      • Headphones
      • Home Theater
      • Media
      • Mounts/Lifts
      • Multiroom AV
      • Projectors/Screens
      • Speakers/Subwoofers
      • Wireless AV
    • Security
      • Access Control
      • Alarms/Sensors
      • Services/Platforms
      • Surveillance/Cameras
    • Business Support
      • Associations/Buying Groups
      • Cell Phone Boosters
      • Distributors/Reps
      • Operations
      • Recurring Revenue
      • Research
      • Sales/Marketing
      • Software Services
      • Tools/Testers
    • Networking
      • Cellular
      • Devices/Equipment
      • Wireless
      • Wired/Installation
    • Markets
      • Builders
      • Commercial
      • Design
      • Europe
      • Outdoors
      • Resimercial
      • Wellness
    • CE Pro Hub Pages
      • Savant
      • Bose
      • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-IQ
  • SUBSCRIBE
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
    • CEDIA SHOW UPDATES
  • DISCOVER
    • Cedia Expo
      VISIT SITE
    • Commercial Integrator
      VISIT SITE
    • Security Sales
      VISIT SITE
    • Tech Decisions
      VISIT SITE
    • Campus Safety
      VISIT SITE
    • Design Well
      VISIT SITE
    • Total Tech Summit
      VISIT SITE
    • KBB Online
      VISIT SITE
    • AV-iQ
    • CE Pro-iQ
M
POPULAR SEARCHES
News
Projects
Control
Audio Video
Security
Business Support
Markets
SUBSCRIBE CEDIA EXPO
Access Control | Control | News | Security
February 4, 2019

Napco Security Logs 18th Consecutive Quarter with Record Sales

Napco Security sales revenue jumps 18%, RMR rises 46% and net income increases 133% compared to Q2 the previous year.
Jason Knott  
Napco's sales for the first six months of fiscal year 2019 are $48.2 million, up 14%.
Article:
Access Control | Control | News | Security
February 4, 2019

Napco Security Logs 18th Consecutive Quarter with Record Sales

To say that Napco Security Technologies (NASDAQ: NSSC) is on a roll would be an understatement. The Amityvile, N.Y.-based maker of intrusion security, school safety lock down systems, Internet of Things (IoT) smart home, video and fire systems, and enterprise-class access control and door locking products, just announced its 18th consecutive quarter of record-setting sales.

Net sales for the quarter ending December 31, 2018 increased 18 percent to $24.8 million as compared to $21.1 million for the same quarter last year. Net sales for the six months increased 14 percent to $48.2 million, as compared to $42.3 million for the same period last year.

Recurring service revenue for the quarter increased 46 percent to $4.1 million as compared to $2.8 million for the same quarter last year and for the six months increased 46 percent to $7.9 million from $5.4 million last year.

The company reports its recurring service revenue now has a prospective annual run rate of $17.2 million based on December 2018 recurring revenues.

All those revenues meant a spectacular bottom line for Q2. Napco’s net income for the quarter increased 133 percent to a second quarter record of $2.9 million from $1.2 million a year ago. Net income for the six months increased 106 percent to $4.4 million from $2.1 million a year ago.

In CE Pro's recent analysis of 2018 stock performance, Napco outperformed the rest of the industry by a wide margin, with a 82 percent stock price gain last year. That is compared to an average -19 drop for the other 51 companies that CE Pro analyzed. 

Related: Smart Home, Consumer Electronics Stock Prices Tank in 2018

Richard Soloway, chairman and president comments, “This past quarter saw our company reach record milestones in both sales and profits and we were particularly encouraged by our ability to continue to build upon and expand our stable of RSR (recurring service revenue) generating product offerings.

“Our strategic targeting of high-growth, professionally-installed, primarily commercial markets, such as wireless fire and intrusion alarm communicators, fire alarm control panels, school security products, IoT smart business/home solutions and access control locking products, has supplied us with the necessary fuel required for incremental future growth.” 

Soloway singled out the company’s StarLink line of universal fire alarm, intrusion alarm and IoT communicators as a contributor of $17.2 million annual run rate of RSR income to the company.

He also touted Napco’s all-in-one FireLink eight- to 32-zone fire alarm control panel with a built-in cellular LTE as a successful product, as well as its universal StarLink Connect IoT cellular communicator, and the recently launched, Napco iBridge Video Doorbell, which lets consumers know who is at the door and speak to them, real-time, remotely, from a smartphone or smart device.

Soloway concludes, “We are confident that our investments in the engineering and marketing of unique, innovative products, positioned in high-sales-growth market sectors, along with an emphasis on driving marketing business models which deliver substantial RSR growth for our company, should propel us to strong incremental future growth for the foreseeable future. We are encouraged by our growth in sales and profits for Fiscal 2019 to-date and look forward to a strong second-half of our year and beyond.”

ABOUT THE AUTHOR

Jason Knott
Follow
Jason Knott:
Jason Knott is Chief Content Officer for Emerald's Connected Brands. Jason has covered low-voltage electronics as an editor since 1990, serving as editor and publisher of Security Sales & Integration. He joined CE Pro in 2000 and serves as Editor-in-Chief of that brand. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He has been a member of the CEDIA Business Working Group since 2010. Jason graduated from the University of Southern California.
View Jason Knott's complete profile

ARTICLE TOPICS

Access Control • Control • News • Security

ARTICLE TAGS

IoT • Napco • Security

SHARE

Share On Facebook
Share On Twitter
Share On Linkedin
Share On Whatsapp
Share Via Email
Copy URL
← Previous Article Next Article →
Article Central VacNewsWellness

Amazon Acquires iRobot Roomba for $1.7B in Cash

Amazon adds iRobot's Roomba vacuum cleaner to its growing portfolio of smart home solutions including Ring, Fire TV and Echo smart speakers.
Article Amplifiers/ReceiversAudio/VideoAV AccessoriesAV RacksControlDesignFurnitureHome TheaterInterfaces/DevicesLightingMarketsMediaMotorized ShadesMultiroom AVNetworkingNewsProjectors/ScreensSpeakers/Subwoofers

SDI’s Audiophile-Centric Approach Reflects an Evolving Market 

SDI is helping Boston-area homeowners meet their home technology objectives without cluttering their homes with unsightly electronics.
Article Central VacNewsWellness

Amazon Acquires iRobot Roomba for $1.7B in Cash

Amazon adds iRobot's Roomba vacuum cleaner to its growing portfolio of smart home solutions including Ring, Fire TV and Echo smart speakers.
Article Devices/EquipmentNetworkingSecurityServices/PlatformsSponsored Content

Preventing Cyberattacks Before They Occur

guardDog’s ASM solution preemptively recognizes, exposes and shuts down cybersecurity threats before an attack can happen, and can help prevent it.

SHOW NEWSLETTER

Sign Up

CE Pro

Subscribe Sign Up

Content Types

News
Products
Projects
Companies
Downloads
Webcasts
Podcasts
Events

Specials

IntegratorJobs
CEDIA EXPO
CE Pro 100
CE Pro Summit
Awards Programs

Company Info

About
Contact Us
Customer Service
Media Solutions & Advertising

Subscribe

Magazine
Newsletters
Digital Edition

Connect

Twitter
Facebook
LinkedIn
YouTube
RSS Feed

Categories

AUDIO/VIDEO
AV Accessories
AV Racks
Amplifiers/Receivers
Cabling
Displays
Furniture
Mounts/Lifts
Multiroom AV
Projector Screens
Speakers/Subwoofers
Wireless AV
CONTROL
Central Vac
Energy/Power
Interfaces/Devices
HVAC/IAQ
Lighting
Motorized Shades
Whole-House Systems
NETWORKING
Cellular
Devices/Equipment
Wireless
Wiring/Installation
SECURITY
Access Control
Alarms/Sensors
Services/Platforms
Surveillance Cameras
BUSINESS SUPPORT
Associations/Buying Groups
Distributors/Reps
Operations
Recurring Revenue
Research
Sales/Marketing
Software/Services
Tools/Testers
MARKETS
Builders
Commercial
Design
Europe
Outdoors
Wellness
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow

© 2021 Emerald X, LLC. All Rights Reserved.

  • ABOUT
  • CAREERS
  • TERMS OF USE
  • PRIVACY POLICY