Why Napco Security Stock Is Soaring Today
Napco Security Technologies (NASDAQ: NSSC) easily surpassed Wall Street's estimates in its most recent quarter and increased its payout to investors. The stock took off in early trading as a result, and was up 10% as of 10:30 a.m. ET on Monday.
Napco makes electronic security devices including automated locks and building access control systems. In its fiscal 2024 second quarter, which ended Dec. 31, the company earned $0.34 per share on revenue of $47.5 million, easily surpassing the consensus estimates of $0.26 per share in earnings on $43.92 million in sales.
Revenue was up 12% year over year, while net income increased by 221%. Recurring service revenue increased by 25% to $18.5 million. The services side of the business helped drive that surge in profitability, generating a gross margin of 90% during the period.
Source Fool.com
