NAPCO Security Systems Inc.’s first quarter proved to be a
record-breaker for the security manufacturer. Bolstered by
a record $13.4 million in sales, NAPCO’s net income was
$513,000 in the three months that ended Sept. 30 compared
with a $282,000 loss in the same quarter a year ago.
NAPCO’s sales numbers, announced Nov. 9, are 37-percent
higher than they were a year ago at this time, with the
company saying it is financially stronger now than it ever
has been.
“Typically, the first quarter is our softest quarter,”
NAPCO Chairman and President Dick Soloway says. “We believe
we will look back at this year’s first quarter as a
breakthrough period for NAPCO.”
Soloway credits tight control on expenses and reallocating
sales over independent distributors as drivers of the
company’s numbers, as well as growth in its Alarm Lock
electronic lock and Continental access control product
lines.
In other earnings news…
Brink’s Results Mixed, But High on Security: While
the net income for The Brink’s Company was down 24 percent
in its third quarter, a 20-percent increase in revenue and
a strong showing for Brink’s Home Security were touted as
positives as the company released earnings figures Nov.
3.
Brink’s had net income of $38.1 million in the three months
that ended Sept. 30 compared to $50 million a year ago.
Earnings were $37.7 million compared to $11.5 million in
the 2003 third quarter.
Revenue at Brink’s Home Security went up 11 percent in the
third quarter to $87.6 million, with a growth in subscriber
and higher per-subscriber revenue. Brink’s ended the
quarter with 896,000 subscribers generating monthly
recurring revenue of $25.2 million.
