secwatch.observer — SEC 8-K summary
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Issuer:     NAPCO SECURITY TECHNOLOGIES, INC (NSSC)
CIK:        0000069633
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001558370-22-016644
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/69633/000155837022016644/0001558370-22-016644-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/69633/000155837022016644/nssc-20221107x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-016644

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