Napco Security Systems' Shares Rise Nearly 10 Percent after Strong Q1 Net Income

    Dec. 5, 2005
    N.Y.-based security firm sees 59 percent increase in first-quarter net income
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    Napco Security Systems (Nasdaq: NSSC) shares rose nearly 10 percent to $14.30 after the Amityville-based security firm posted strong first-quarter net income.

    The company said it had a 59 percent jump in first-quarter net income to $815,000 on a 6 percent rise in revenue to $14.2 million.

    Napco ended the week only slightly below its 52-week high of $14.50 and nearly three times its 52-week low of $5.93.

    The supplier of security products pointed to strong sales of burglar and fire alarm systems for businesses and homes.

    The firm said its Alarm Lock line of industrial electronic locking devices also continued "to show vitality."

    Napco continued to invest heavily in creating new products, spending $1.1 million in the quarter.

    Napco said its Internet video product, the VIP Video Gateway, lettings residents and businesses observer their property via computer or cell phone, "continues to garner market share."