NAPCO Security Technologies Inc. of Amityville, seen on Sept. 6,...

NAPCO Security Technologies Inc. of Amityville, seen on Sept. 6, 2016, reported Monday, Feb. 6, 2017, a net income of $857,000 for the three months that ended Dec. 31, compared with $976,000 a year earlier. Credit: Steve Pfost

Napco Security Technologies Inc. reported Monday its net income fell 12 percent for the most recent quarter, despite a modest increase in net sales.

The Amityville maker of electronic security, fire alarm and “connected home” devices for homes, businesses and schools had net income of $857,000 for the three months that ended Dec. 31, compared with $976,000 a year earlier.

Net sales grew year-over-year by almost 1 percent, to $20.7 million. Subscription-based recurring revenues increased by 68 percent compared with a year earlier.

Napco’s selling, general and administrative expenses for the quarter were $5.6 million, or 26.8 percent of sales. A year earlier, the company’s expenses were $5.2 million, or 25.3 percent of sales.

The company reported diluted earnings per share of 5 cents for the quarter, unchanged from a year earlier.

Napco’s stock price fell by 2.7 percent in midday trading, to $9.

Richard Soloway, the company’s chairman and president, said Napco expects to launch four new products in the next six months.

“We continue to build momentum for future growth by focusing on vibrant markets, such as school security, [internet of things] and wireless alarm signal communicators, with an emphasis on products that deliver substantial recurring monthly revenue,” Soloway said in a statement.

Latest Videos