Napco Security Technologies Inc. said sales of higher margin products with recurring revenue streams boosted earnings by 29 percent in its first fiscal quarter from a year earlier.
The Amityville maker of high-tech electronic security and fire alarm devices for residential, commercial and institutional use said net earnings in the three months ended Sept. 30 totaled $159,000, up from $123,000 a year ago. Earnings per share were unchanged at a penny a share.
Company chairman and president Richard Soloway said in a statement, "Our focus on selling higher margin products with recurring revenue streams helped us deliver solid results to our bottom line during the seasonally slow fiscal first quarter."
The higher earnings came on sales of $17.3 million in the quarter, up only 1 percent from a year earlier when sales included a large custom access control system order for a major university.
Napco's shares were down 1 cent, or 0.16 percent, at $4.33 in morning trading Tuesday.