- Demand For Security Equipment Remains Strong -
AMITYVILLE, N.Y. – NAPCO Security Technologies, Inc., (NASDAQ:NSSC), one of the world's leading suppliers of high performance electronic security equipment for over 30 years, reports on its participation in last week's ISC - West Conference and Exhibition at the Sands Convention Center, Las Vegas. ISC - West is one of the largest events in the U.S. for the electronic and physical security industry spanning access control, alarms monitoring, biometrics, locking, video surveillance, IP Security, networked security products and more.
Richard Soloway, Chairman and President, commented, "We were extremely pleased at the excitement our new products created with the dealers at the show. While all products were favorably received, the products with the greatest level of interest included (1) NAPCO's iBridge remote services integrated home automation and alarm system. Dealers now will be able to offer their customers full remote control using their smart phone to control the alarm functions, the lighting throughout their premises, the thermostats and their door locks. NAPCO and its dealers will be able to charge end user customers additional recurring revenue over and above alarm monitoring for all of these additional services; (2) Starlink radio communicators, which communicate all the security signals from a premise to a dealer's central station, is a strong growth area because traditional dial up phone lines are being phased out in premises. These radios can be upgraded by using a plug in radio module for any radio services such as 3G, 4G, 5G going forward as the carriers upgrade their towers. These future proof radios are a leap forward for the security industry. NAPCO and its dealers will be able to charge end user customers for this communication service; (3) electronic Networx wireless locking/lock down systems and our low cost mechanical LocDown and LifeSaver lock-down locks were enthusiastically received by the dealers. The Networx wireless system can lock down any portion of a school, university or business with the operation of a remote control device/console located in the security or principal's office; and (4) 2.9 integration software, which uniquely integrates our alarms, our radio controlled locks, and our access control all on one network."
Mr. Soloway continued, "We are extremely optimistic about the growth and profitability opportunities that these new products can generate with no cannibalization of our traditional products. The timing is right for these products because security concerns have risen to higher levels. Demand for security equipment is being driven by numerous factors including (1) stabilizing economic conditions, (2) concerns about crime and terrorism, (3) technology improvements which are enabling further market penetration and spurring a strong replacement and upgrade market, and (4) by giving security dealers an opportunity to trade up their customers monthly monitoring rates for additional remote service functionality."
About ISC West
The International Security Conference & Exposition - also known as ISC West - is the largest event in the U.S. for the physical security industry, covering Access Control, Alarms & Monitoring, Biometrics, IP Security, Video Surveillance / CCTV, Networked Security Products and more. ISC West covers the newest security products & security technology, provides networking opportunities with colleagues & security professionals, and delivers valuable security industry training & knowledge through ISC Premier Education Series(SM). For more information, log on to http://www.iscwest.com/en/Home.
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc. is one of the world's leading manufacturers of technologically advanced electronic security equipment including intrusion and fire alarm systems, access control and door locking systems. The Company consists of NAPCO plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. The products are installed by security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for technical excellence, reliability and innovation, poising the Company for growth in the rapidly expanding electronic security market, a multi-billion dollar market.
For additional information on NAPCO, please visit the Company's web site at www.napcosecurity.com.
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission.
Regional Vice-President Hayden IR
NAPCO Security Technologies, Inc.
Web Site: http://www.napcosecurity.com