NAPCO Reports Net Sales of $16.1 Million During Recent Quarter
NAPCO Security Systems Inc., electronic security equipment supplier, has announced financial results for its second quarter ended Dec. 31.
Net sales for the three months ended Dec. 31 was $16.1 million as compared to $17.2 million for the same quarter a year earlier, a decrease of 6 percent. Net income for the quarter was $1.1 million, or 6 cents per diluted share, compared to net income of $1.5 million, or 7 cents per diluted share, for the same year ago period, a decrease of $400,000.
Net sales for the six months ended Dec. 31 was $30.1 million as compared to $31.4 million for the prior year period, a decrease of 4 percent. Net income for the six months ended Dec. 31 was $2.1 million or 10 cents per diluted share, as compared to $2.3 million or 11 cents per diluted share in the prior year period, a decrease of $200,000. Net sales and net income for the three and six months declined due to lower sales in the company’s European markets.
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