NAPCO Security’s Profits Skyrocket Up 70%
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.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!