NAPCO Reports 69% Profit Increase in 2005 Fiscal Year
AMITYVILLE, N.Y.
NAPCO Security Systems Inc. announced its fiscal 2005 profit increased by 69 percent, driven by strong sales growth and improved margins. The company’s net income increased to $5.6 million from $3.3 million, and revenue rose to $65.2 million from $58.1 million.
NAPCO said its revenue for the period is a company record, and its results exceeded expectations by a large margin. NAPCO also said it is “cautiously optimistic” that all the necessary components are in place to improve its value at a reasonable rate in 2006.
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