Amityville lockmaker sees increase in sales, profits
Napco Credit: Handout
Several newly-designed locks and wireless security systems -- along with cost-cutting measures -- have helped propel Napco Security Technologies Inc. to higher sales and profit numbers in its most recent quarterly results, the Amityville company said.
On Tuesday it disclosed financial results for its third quarter ended March 31. Net sales for the quarter were $17.7 million, up from $16 million a year ago, while net income was $695,000, compared to a net loss of $1.86 million for the same period a year ago.
Wireless products helped fuel the strong quarter, Napco said. "Today’s alarm installation professionals vitally need a wireless link to security systems in the field, as traditional phone lines disappear," the company said in a news release.
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