Napco Security slides on Q1 revenue miss
NSSC•Napco Security shares fell 16.1% to $32.99 premarket after reporting Q1 adjusted EPS of 36 cents and revenue of $50 million, below estimates of 38 cents and $52.1 million.
1. Quarterly results
Equipment revenue decreased 7.3% year over year; CEO Kevin Buchel said the decline was due to reduced purchases by two locking distributors. All six brokerages rate the stock “buy,” and the median price target is $50.
