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Why Napco Security Technologies Stock Is Up Big Today

TheMotleyFool

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Why Napco Security Technologies Stock Is Up Big Today: https://g.foolcdn.com/editorial/images/731482/door-lock-and-open-door-source-getty.jpg

Napco Security Technologies (NASDAQ: NSSC) delivered quarterly earnings that came in well above expectations and initiated a dividend. Investors are buying in, sending shares up as much as 19% on Monday morning.

Napco is a maker of high-tech electronic security products including automated locks and access equipment. The company earned $0.29 per share in its fiscal third quarter (ending March 31) on revenue of $43.5 million, topping analyst expectations for $0.19 per share in earnings on sales of $42 million.

Net sales increased 21% year over year, and recurring service revenue in the quarter was up 26%.

Source Fool.com

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