Napco Security net income falls, net sales rise
Richard Soloway, president and CEO of Napco, on Oct. 18, 2005. Credit: Newsday / Michael E. Ach
Napco Security Technologies reported Tuesday that its net income for the fiscal fourth quarter fell 6 percent, although the company said its net sales were up.
The Amityville-based company, which makes electronic security, fire alarm and “connected home” devices for homes, businesses and schools, reported net income of $3.2 million, down from $3.4 million for the same period a year ago.
Net sales for the quarter ended June 30 rose 7 percent to $25.7 million.
Product development “and marketing endeavors have resulted in us growing market penetration in the burgeoning wireless cellular communicator market category,” said Richard Soloway, president and CEO of Napco, in a news release.
Napco shares closed up 45 cents to $8.20. The shares are up nearly 15 percent in the past year.
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