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These decisions reflect shareholder confidence in the current leadership and financial oversight of the company, which specializes in security technologies and operates in the communications equipment industry. The company, based in Amityville, New York, has a history dating back to its previous name, NAPCO Security Systems Inc., with a name change occurring in 1992. Notable financial strengths include a current ratio of 6.94, indicating strong liquidity, and minimal debt relative to equity.
The information provided in this article is based on a press release statement from the Securities and Exchange Commission's filings, ensuring a transparent and factual report of the events. For a comprehensive analysis of NAPCO's financial health, valuation metrics, and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.
In the election of directors, Rick Lazio and Donna A. Soloway were successfully re-elected to NAPCO's Board of Directors to serve until the annual meeting following the 2027 fiscal year. The voting results showed strong support for both candidates, with Lazio receiving 20,494,239 votes for and 9,045,650 withheld, while Soloway secured 20,090,850 votes for and 9,449,039 withheld.
There were 3,351,615 broker non-votes for each candidate. Despite the company's solid 11% revenue growth over the past year, the stock has experienced significant volatility, declining nearly 28% over the past six months.
In addition, shareholders ratified the selection of Deloitte & Touche LLP as the company's independent registered public accountants for the upcoming fiscal year. The proposal received an overwhelming majority of votes in favor, with 32,795,830 for, 29,960 against, and 65,714 abstentions.
These decisions reflect shareholder confidence in the current leadership and financial oversight of the company, which specializes in security technologies and operates in the communications equipment industry. The company, based in Amityville, New York, has a history dating back to its previous name, NAPCO Security Systems Inc., with a name change occurring in 1992.
In other recent news, Napco Security Technologies (NASDAQ:NSSC) has undergone several adjustments in its financial outlook following mixed results in its first fiscal quarter. TD Cowen, Craig-Hallum, Lake Street Capital Markets, and Needham have all revised their price targets for Napco, with TD Cowen reducing it to $46, Craig-Hallum to $48, Lake Street to $41, and Needham to $52. Despite the lowered targets, all firms maintain a Buy rating on Napco's stock, expressing confidence in the company's future growth prospects.
Napco's first fiscal quarter of 2025 saw a 7% year-over-year increase in earnings per share and a 6% rise in revenues. The company reported record sales of $44 million, marking the 16th consecutive quarter of increasing sales, and a net income rise to $11.2 million, a 7% increase from the previous year. Despite a decline in equipment sales, Napco experienced a 23% increase in cellular radio sales and a 22% growth in recurring monthly service revenue.
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