NAPCO Security Tech (NSSC) Reports In-Line Q2 EPS, Slight Miss on Revenues

NAPCO Security Tech (NASDAQ: NSSC) reported Q2 EPS of $0.07, in-line with the analyst estimate of $0.07. Revenue for the quarter came in at $21.1 million versus the consensus estimate of $22.07 million.

Financial Highlights:

• Net sales for the quarter were $21.1 million as compared to $20.7 million the same quarter last year. Net sales for the six months were $42.3 million as compared to $40.9 million for the same period last year.
• Recurring revenue for the quarter (which are included in net sales) increased 52% and now has a prospective annual run rate of $11.7 million based on December 2017 recurring revenue.**
• Net income for the quarter increased 44% to $1,233,000 from $857,000 a year ago. Net income for the six months increased 49% to $2,123,000 from $1,425,000 a year ago.
• Earnings per share (diluted) for the quarter was $0.07, as compared to $0.05 for the same period a year ago. Earnings per share (diluted) for the six months was $0.11, as compared to $0.08 for the same period a year ago.
• Management re-activated Napco\'s stock buyback program at the end of the December 2017, repurchasing 22,600 shares of its common stock at a weighted average purchase price of $8.53 per share. As of December 31, 2017 the Company may repurchase up to 331,585 more shares under this program.

For earnings history and earnings-related data on NAPCO Security Tech (NSSC) click here.

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