Sales increases in its intrusion and fire alarm system lines, as well as a bigger margin for Continental Instruments access control equipment, helped power NAPCO Security Systems Inc. to a 59-percent increase in earnings for its first fiscal quarter. NAPCO earned $815,000 for the three months that ended on Sept. 30, compared to $513,000 for the same period a year ago.
Revenue was up 6 percent to $14.2 million. During the quarter, NAPCO spent $1.1 million on research and development.
“Over the years, the first quarter has historically been our softest. The current first quarter reinforces the profit breakthrough with a comfortable increase and we anticipate this trend will continue,” said NAPCO Chairman and President Richard Soloway.
NAPCO expressed further optimism for NAPCO’s future based on its impending introduction of several new products, including the Freedom 8 code-free alarm system and the VIP Video Gateway network video product.
“We also are convinced that NAPCO’s growing list of new products … should generate significant future returns for us for many years to come,” Soloway said.
