Napco Security Technology reports loss for quarter
Napco Security Technologies Inc.,Amityville
Door locks and access technology
Quarter:Ended March 31
Net income: Loss of $1.8 million, compared with loss of $5 million in same quarter last year.
Net sales: $16 million compared with $14 million in the same quarter last year.
Outlook: Chairman and president Richard Soloway said steady sales, expense reductions, a high backlog level of $2.9 million, and the continued transfer of Marks product manufacturing to the company's Dominican Republic plant put Napco "in a position for improved profitability when economic conditions improve and are reflected in our sales levels."
Company statement: "As crime, terrorism and other violence issues remain a major public concern, our unique products should continue to gain support through our large security dealer network," Soloway said.
STOCK PRICE: Closed Tuesday at $2.13, down 8 cents a share.
Inside look at NUMC's aging infrastructure President and CEO of Nassau University Medical Center Thomas Stokes explains the problems caused by the aging infrastructure within the hospital. Newsday Associate Editor Joye Brown reports.
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