NAPCO Security Technologies, Inc., one of the solutions providers and manufacturers of high tech electronic intrusion security, school safety lock down systems, Internet of Things (IoT) connected home, video and fire systems, as well as enterprise-class access control and door locking products, announces that its Board of Directors has authorized a new share repurchase program for the Company. The new stock repurchase program is for up to 500,000 shares of the approximately 18.6 million shares outstanding. The repurchase will be made from time to time in the open market or in privately negotiated transactions subject to market conditions and the market price of the common stock. Under the repurchase program authorized in 2014 to repurchase up to 1,000,000 shares the Company has the ability to repurchase approximately 52,000 shares. Recurring Revenue Richard Soloway, President & CEO of NAPCO stated "We believe that the future for NAPCO looks bright, our sales and profits continue to grow with fiscal 2018 being another record year for us. Our new products that have launched recently such as the Starlink Connect, and Dual Path communicators have performed well for us as evidenced by the continued growth of our recurring revenue, which grew 46% in our first fiscal quarter 2019 and has an annual run rate of $15.6 million based on September 2018.” School security remains a vibrant area for growth and the Company continues to win new business in this vertical" “The Company also saw growth in its hardware products offering during the first fiscal quarter 2019. School security remains a vibrant area for growth and the Company continues to win new business in this vertical.” Raise Awareness “We believe that the recent legislation passed by 26 different states in the US for funding school security, with the total sum being approximately $1 billion dollars, will be a positive for NAPCO's business. The Company has determined that repurchasing shares opportunistically will be an attractive use of our capital." In conclusion Soloway stated "We are always looking at ways to create shareholder value and with our senior management holding approximately 38% of the shares, our interests are aligned with our shareholders. NAPCO has been attending conferences and visiting with investors during the year and has plans to continue its outreach program to raise awareness of the bright future we believe is ahead."
The goal for the 1st annual Mission 500 ballgame is to raise $100,000 to help American children at risk NAPCO Security Technologies, Inc., announced its popular StarLink™ universal cellular alarm communicator brand, will co-sponsor the 1st Security Industry Softball Game benefiting U.S. children in need, Sept 12 at noon, in Overpeck County Parks NJ. This new 1st annual Mission 500 Event, held in NJ, includes a long list of security sponsors, and is the latest Mission 500 event, added on the heels of its successful annual 5K/2K race. Fund Raising For American Children At Risk To-date, Mission 500, comprised of security-industry professionals, has sponsored over 1000 kids, with its ongoing volunteer-driven campaigns. The all-new ballgame idea, ‘to strike out poverty in the USA’, was said to have come about as a means to keep momentum and increase awareness for this worthy Kids’ cause. While the free family-friendly sports event is open to all, starting at noontime, Saturday Sept 12, filled with food and fun, the goal for the 1st Annual Mission 500 Security Industry Softball Game is to raise $100,000 to help American children at risk, estimated to incredibly be up to 1 in 4 US kids, as poverty recognises no geographical boundaries. Co-Sponsors From Security Industry On the field, NAPCO's own Jersey-based RVP, Duane Warehime and Regional Metro NY Sales Manager Nick LaBella, will play for one of the two softball teams in this multi security sponsor event, featuring heavy-hitter co-sponsors, organiser Samsung, Altronix, AXIS, Hikvision, Pelco, ISC/SIA, and over 30 additional sponsors, including those for the barbeque, bases, homeruns, outfield angels, handouts, etc. This free sporting and BBQ event will kick off with free official Samsung or Altronix baseball caps to the first 150 park entrants and 50/50 split-the-pot raffle tickets will be sold for $1 on game day. Mission 500 will be also be sponsoring a “School Kit Build” there, with a goal of assembling 200 school bags to be donated to Title One Schools in NYC’s South Bronx. George Fletcher, Mission 500 founder and member, has reportedly vowed to dye his silver hair orange, underscoring the social-media-based World Vision #Show Orange campaign, if event goals are met. “What could be better, helping US kids in need; celebrating America’s pastime and supporting Mission 500. Should be a great day for all, and one we are happy to support. ” Richard Soloway, NAPCO CEO said. Date: September 12, 2015 Time: 12:00 PM - 3:00 PM Location: Overpeck County Park Address: 40 Fort Lee Rd, Leonia, NJ 07605
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