8-K
filed May 6, 2024, 7:59 PM ET
ticker NSSC
CIK 0000069633
earnings
confidence high
sentiment positive
materiality 0.85
Napco posts record Q3 revenue $49.3M, net income $13.2M; promotes Buchel to President & COO
NAPCO SECURITY TECHNOLOGIES, INC
2024-Q3 EPS reported
$0.98
revenue$138,490,000
- Q3 net sales $49.3M (+13% YoY); net income $13.2M (+38% YoY); EPS $0.36 (+38%).
- Recurring service revenue $19.5M (+29%), gross margin 92%; annual run rate ~$81M.
- Adjusted EBITDA $15.6M (+37%), margin 32%; cash $87.5M, zero debt.
- Board declares $0.10/share dividend payable June 24, 2024.
- Kevin Buchel promoted to President & COO while remaining CFO; Michael Carrieri promoted to EVP Engineering & CTO; Andrew Vuono appointed SVP Finance & CAO.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
NAPCO SECURITY TECHNOLOGIES, INC reported the fiscal quarter ended March 31, 2024 results: revenue $49.3 million, net income $13.2 million, EPS $0.36.
- Period
- the fiscal quarter ended March 31, 2024
- Revenue
- $49.3 million
- Net income
- $13.2 million
- EPS
- $0.36
- 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 Q3 of Fiscal 2024 -Net Sales for the Quarter Increase 13% to $49.3 Million- -Net Income for the Quarter Increases 38% to $13.2 Million- -Adjusted EBITDA* for the Quarter Increases 37% to $15.6 Million- -3rd Quarter Recurring Service Revenues Increase
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin Buchel changed role as President & Chief Operating Officer at NAPCO SECURITY TECHNOLOGIES, INC.
- Action
- promoted
- Role
- President & Chief Operating Officer
Exact text from the filing
Effective May 2, 2024, Kevin Buchel has been promoted to President & Chief Operating Officer while maintaining his position as Chief Financial Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Carrieri changed role as Executive Vice President of Engineering & Chief Technology Officer at NAPCO SECURITY TECHNOLOGIES, INC.
- Action
- promoted
- Role
- Executive Vice President of Engineering & Chief Technology Officer
Exact text from the filing
Also, Effective May 2, 2024, Michael Carrieri has been promoted to Executive Vice President of Engineering & Chief Technology Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew Vuono was appointed as Senior Vice President of Finance and Chief Accounting Officer at NAPCO SECURITY TECHNOLOGIES, INC.
- Action
- appointed
- Role
- Senior Vice President of Finance and Chief Accounting Officer
Exact text from the filing
On May 2, 2024, Andrew Vuono was appointed as the Company’s Senior Vice President of Finance and Chief Accounting Officer.
View on SEC.gov
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