NAPCO Security’s Profits Skyrocket Up 70%
AMITYVILLE, N.Y.
The bottom line is anywhere but hitting bottom for manufacturer NAPCO Security Systems Inc., which nearly doubled its net earnings in its most recent quarter compared to the same period a year ago. Releasing its second quarter figures for the three months that ended Dec. 31, NAPCO announced it had a net profit of $1.5 million compared to $872,000 for the same quarter a year ago – a 70-percent gain .
Revenues were up a more modest 8 percent for the second quarter to $17.2 million.
Among the contributing factors NAPCO credits with its substantial hike in earnings are improvements to its distribution network, a shift in the product mix toward the commercial/industrial and government markets, and several product introductions, including the “Freedom” code-free alarm system.
During the past six months, NAPCO’s earnings have gone up 66 percent while sales are up 7 percent.
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