secwatch.observer — SEC 8-K summary
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Issuer:     NAPCO SECURITY TECHNOLOGIES, INC (NSSC)
CIK:        0000069633
Form:       8-K
Filed at:   2021-11-08T23:59:59+00:00
Accession:  0001558370-21-015074
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Napco Q1 FY2022: Revenue +34% to $31.1M, EPS $0.42 vs $0.13 YoY, record net income $7.8M
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- Net sales rose 34% YoY to a quarterly record $31.1M; recurring service revenue up 41% to $10.2M with 86% gross margin.
- Net income surged 234% to $7.8M ($0.42 diluted EPS) versus $2.3M ($0.13) in prior year; adjusted EBITDA $8.6M, up 170%.
- Excluding $3.9M debt extinguishment gain, net income was $3.8M ($0.21 EPS); cash and securities $43.2M.
- Hardware gross margin fell to 22% due to freight and component cost increases from global supply chain disruptions.
- Company sees continued momentum; school security and new Air Access cellular access control as growth drivers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/69633/000155837021015074/0001558370-21-015074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/69633/000155837021015074/nssc-20211108x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-015074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer