Napco Q1 FY2024 revenue $41.7M, net income $10.5M (+239%), dividend $0.08 declared

NAPCO SECURITY TECHNOLOGIES, INC

2024-Q1 EPS reported $0.28 revenue$41,676,000

Net sales $41.7M (Q1 record), up 6% YoY; net income $10.5M (+239%); diluted EPS $0.28 vs $0.08.
Recurring service revenue $17.3M (+25%); gross margin 90%; annualized run rate ~$72.5M.
Adjusted EBITDA $12.9M (+174%); margin 31%; cash $74.6M with no debt.
Equipment gross margin improved to 28% from 9%; total gross margin 54% vs 37%.
Board declared $0.08/sh dividend payable Dec 22; Deloitte & Touche appointed auditor for FY2024.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NAPCO SECURITY TECHNOLOGIES, INC reported the 3 months ended September 30, 2023 results: revenue $41.7 million, net income $10.5 million, EPS $0.28.

Period: the 3 months ended September 30, 2023
Revenue: $41.7 million
Net income: $10.5 million
EPS: $0.28
Result: reported results

Exact text from the filing

of that section. --- EX-99.1 (EX-99.1) --- NAPCO Reports Record Revenues, Net Income and Adjusted EBITDA for Q1 of Fiscal 2024 -Net Sales for the Quarter Increase 6% to $41.7 Million- -Net Income for the Quarter Increases 239% to $10.5 Million- -Adjusted EBITDA for the Quarter Increases 174% to $12.9 Million- -1st Quarter Recurring Service Revenues Increase

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accession 0001558370-23-017752

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