Napco Security Technologies, Inc. (NASDAQ: NSSC) came out with fourth-quarter figures Tuesday.
The Amityville, New York-based Napco, one of the world's leading solutions providers and manufacturers of high tech electronic intrusion security, Internet of Things (IoT) connected home, video and fire systems, reported net sales for the quarter increased 6% to a record $27.3 million as compared to $25.7 million for the same quarter last year. Net sales for the fiscal year were a record $91.7 million, a 5% increase, as compared to $87.4 million for FY2017.
Net income for the quarter increased 15% to a fourth quarter record of $3.7 million from $3.2 million a year ago. Net income for the fiscal year increased 37% to a record $7.6 million from $5.6 million a year ago.
Earnings per share (diluted) for the quarter proved $0.20, as compared to $0.17 for the same period a year ago.
Said Chairman Richard Soloway, "We were pleased to see our Company reaching record milestones in both sales and profits, for Q4 and fiscal 2018. This performance is a confirmation that our investments in new product development, as well as entering new market segments which provide strong avenues for sales and recurring revenue growth, have positioned NAPCO well for the future.
"Importantly, fiscal 2018 also saw us keep our R&D and marketing expenditures constant, an objective of ours at the beginning of the year, which resulted in delivering a record $7.6 million in net income."
Shares shed 15 cents, or 1%, to $14.95
