Napco Security Q1 FY2023 sales up 27% to record $39.5M; recurring revenue up 35% to $13.8M

NAPCO SECURITY TECHNOLOGIES, INC

2023-Q1 EPS reported $0.17 revenue$39,493,000

Net sales $39.5M (Q1 record), up 27% YoY; recurring service revenue $13.8M, up 35% YoY.
GAAP net income $6.4M ($0.17 diluted EPS) vs $7.8M ($0.21) last year, which included $3.9M debt extinguishment gain.
Adjusted EBITDA $8.3M, up 77% YoY; adjusted diluted EPS $0.22 vs $0.13.
Recurring service gross margin 88% (up from 86%); hardware gross margin 23% (up from 22%).
Cash, investments and marketable securities $44.4M, no debt; working capital $97.0M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NAPCO SECURITY TECHNOLOGIES, INC reported first quarter of fiscal 2023 results: revenue $39.5 million, net income $6.4 million, EPS $0.17.

Period: first quarter of fiscal 2023
Revenue: $39.5 million
Net income: $6.4 million
EPS: $0.17
Result: reported results

Exact text from the filing

Net sales for the quarter increased 27% to a Q1 record of $39.5 million as compared to $31.1 million for the same period last year.

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Source: SEC EDGAR

accession 0001558370-22-016644

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