NAPCO Security Technologies reported a 4% increase in sales, reaching a record $26.2 million for the third fiscal quarter of 2020. Net income increased by 16% to a record $3.6 million, with earnings per share rising by 18% to $0.20. Recurring service revenues grew by 37% to $6.2 million.
Sales increased 4% to a third fiscal quarter record of $26.2 million.
Net income increased 16% to a third quarter record of $3.6 million.
Earnings per share increased 18% to $0.20.
Recurring service revenues grew 37% to $6.2 million.
NAPCO is carefully monitoring and fine-tuning the best ways to service customers during the COVID-19 pandemic. The company believes it is well-positioned in the non-discretionary, commercial, high gross margin sector of the security industry to weather the storm, with continued strong levels of recurring service growth and expansion of profitability expected to continue into the future.
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