NAPCO Security Technologies, Inc. (NSSC) reported second quarter net income of $10.5 million, down 17.0% from prior year. EPS was $0.28 compared to $0.34. Second quarter net sales were $43.0 million, down 9.7% from a year ago. Recurring service revenue increased 14.4% to $21.2 million.
Richard Soloway, Chairman and CEO, said: "While we were disappointed in our overall equipment sales, we attribute the decline to timing and based on historical purchase activity of our largest distributors we anticipate improvement in equipment sales through the balance of Fiscal 2025."
The Board declared a quarterly dividend of $0.125 per share, payable on April 3, 2025 to shareholders of record on March 12, 2025.
Shares of NAPCO Security Technologies are down 5% in pre-market trade on Monday.
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