1. NSSC reports Q2 fiscal 2025 net sales down 9.7% year-over-year. 2. Recurring service revenue rose 14.4%, indicating potential growth. 3. New school safety contracts highlight NSSC's market penetration efforts. 4. Equipment sales declined due to distributor inventory reduction. 5. Management remains optimistic for improved sales in second half of 2025.
Mixed financial results may stabilize NSSC's stock post-earnings announcement.
Earnings report directly affects investor perceptions and future growth expectations.
Immediate investor sentiment will be influenced by recent performance metrics.
AMITYVILLE, N.Y., Feb. 3, 2025 /PRNewswire/ -- NAPCO Security Technologies, Inc. (NASDAQ: NSSC), one of the leading manufacturers and designers of high-tech electronic security equipment, wireless communication devices for intrusion and fire alarm systems and the related recurring service revenues as well as a provider of school safety solutions, today announced financial results for its second quarter of fiscal 2025.
(dollars in thousands)
% Increase/
% Increase/
| 2024 | 2023 | (decrease) | 2024 | 2023 | (decrease) | |
|---|---|---|---|---|---|---|
| Net Sales | $42,933 | $47,547 | (9.7)% | $86,936 | $89,223 | (2.6)% |
| Gross Profit | $24,489 | $25,012 | (2.1)% | $49,105 | $47,425 | 3.5% |
| Gross Profit Margin | 57.0% | 52.6% | 56.5% | 53.2% | ||
| Net Income | $10,467 | $12,610 | (17.0)% | $21,652 | $23,088 | (6.2)% |
| Diluted EPS | $0.28 | $0.34 | (17.6)% | $0.59 | $0.62 | (4.8)% |
1. In millions except percentages and per share data or as otherwise noted.
2. Represents a non-GAAP financial measure. An explanation and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure are presented in the schedules accompanying this press release.
Richard Soloway, Chairman and CEO, commented, "As we complete the first half of Fiscal 2025, our performance has yielded mixed results...."
Management will conduct a conference call at 11 a.m. ET today, February 3, 2025...
NAPCO Security Technologies, Inc., is one of the leading manufacturers and designers of high-tech electronic security devices...
This press release contains forward-looking statements that are based on current expectations...
Certain non-GAAP measures are included in this press release...