Napco Security Technologies Earnings: Here’s Why Investors are Not Happy Now
Napco Security Technologies, Inc. (NASDAQ:NSSC) delivered a profit, but revenues decreased year-over-year. Shares are down 3%.
Napco Security Technologies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.01 in the quarter.
Revenue: Decreased 2.38% to $17.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Napco Security Technologies, Inc. reported adjusted EPS income of $0.01 per share.
Quoting Management: Richard Soloway, Chairman and President, stated, “During the second quarter of fiscal 2013, the devastation caused in the Northeast United States by ‘Super-storm’ Sandy interrupted the operations of many of NAPCO’s customers. In particular, the demand for residential intrusion products slowed as residents recovered from the storm and focused on structural, heating and electrical supply damages before addressing their intrusion systems. Management expects the effects of the storm to lessen in the coming months as residents complete their rebuilding processes. While the residential markets were challenged, the commercial and industrial lock markets remained solid. We achieved sequential growth in our Marks brand for the first half of this fiscal year after a disappointing fiscal 2012. Also of note is the 22% sequential increase in installations of our Starlink2 radios this quarter, which allow for alarm signal reporting even when telephone service is interrupted and provides high-margin monthly recurring revenue to NAPCO.”
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