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.
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
