NAPCO refutes Fuzzy Panda short-seller report, highlights record revenue and cash

NAPCO SECURITY TECHNOLOGIES, INC

Refutes Fuzzy Panda Sept 5 report; independent investigation found no evidence supporting allegations.
Record revenues and earnings in Aug 29 10-K; $97.7M cash; dividend raised 25% to $0.125/share.
Remediated FY2023 material weaknesses; new inventory costing weakness to be fixed by Q2 fiscal 2025.
Approximately 580,000 shares available under existing repurchase plan.
Defends 90% recurring revenue margin; cites Alarm.com's 86% gross margin; commercial focus explained.

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