Revised marketing strategy ups Napco earnings
AMITYVILLE, N.Y.--Napco Security System's top executive credited a revised marketing strategy for its fire and intrusion system as one of the reasons for an increase in revenues, net income and earnings-per-share for fiscal year 2005.
The company invested $5 million in research and development to create products for the residential, commercial, industrial and government markets, according to Richard Soloway, chairman and president.
Released in late September, Napco's results showed a 12 percent increase in earnings over fiscal year 2004, a 47 percent increase in operating income and a 69 percent jump in net income. The company repaid $6.4 million in debt, reducing its outstanding debt to $1.95 million.