Company: NSSC
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001558370-25-000601
Chunk: 14

Company: NAPCO SECURITY TECHNOLOGIES, INC
Filing Date: 2025-02-03
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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 is a leading manufacturer and designer of high-tech electronic security devices, wireless communication services for intrusion and fire alarm systems as well as a provider of school safety solutions. We offer a diversified array of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products, used for commercial, residential, institutional, industrial and governmental applications. We have experienced significant growth in recent years, primarily driven by our recurring service revenues  from wireless communication services for intrusion and fire alarm systems.

NAPCO has established a heritage and proven record in the professional security community for reliably delivering both advanced technology and high-quality security solutions. We are dedicated to developing innovative technology and producing the next generation of reliable security solutions that utilize remote communications and wireless networks.

Highlights from the three and six months ended December 31, 2024 compared with the comparable periods in fiscal 2024 included:

●Net sales decreased 9.7% to $42.9 million and 2.6% to $86.9 million, for the three and six months.

●Recurring service revenue (“RSR”) increased 14.4% and 18.1% to $21.2 and $42.3 million for the three and six months. 

●Total gross profit margin increased from 52.6% to 57.0% and 53.2% to 56.5% for the three and six months.

●Gross margin for RSR increased to 91.3% and 91.2% as compared to 89.9% and 89.8% for the three and six months.

●Generated $25.5 million in cash flows from operations for the six months ended December 31, 2024 as compared to $18.7 in fiscal 2024.