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.
