NAPCO Receives $1.5 Million Networx Product Contract For Major University System Continental Access Control Order is Largest in the Company's History
AMITYVILLE, N.Y., May 16, 2013 /PRNewswire/ -- NAPCO Security Technologies, Inc., (NASDAQ: NSSC), one of the world's leading suppliers of high performance electronic security equipment for over 30 years, announced that it has received a $1.5 million order to supply a major university campus with over 1,700 Networx wireless locks to be installed and customized to meet the university's architectural specifications. Product delivery has begun and installation is slated for completion by August 1, 2013. NAPCO's Continental Access Control division was awarded this contract for its Networx line, which is a full-featured, security-management suite that provides facility management with the technological backbone necessary to support, manage and protect today's schools, hospitals, corporations and government facilities, including campus-wide "lock downs."
Richard Soloway, Chairman and President, stated, "This significant contract awarded to NAPCO reflects our leadership position in providing enterprise-class technology-based solutions in securing people in places they live and work. Our best-in-class, encrypted proprietary wireless technology, coupled with our ability to deliver a custom architectural finish on the lock devices was very important to this customer. Other features, such as the longest battery life in the category - 5 years - with normal use, the easiest GUI (graphical user interface) of all integrated access control systems on the market, and our unique 'double-tap' feature that enables an authorized user to present the access card twice to the lock and therefore toggle its state from 'passage' to 'locked' were also important factors in winning this large contract."
Mr. Soloway concluded, "NAPCO's integrated technology enables a low-cost and state-of-the-art enterprise level lock down system that delivers the maximum protection and the most complete integrated solution available on the market today. As safety and security concerns remain high priorities for people and organizations entrusted with the care and protection of others, we expect that educational, hospital, corporate and governmental facilities represent a very large opportunity to us, as they look for the premier solution for their security products and service needs. This is our first win in what we believe could be a major line of business and a significant driver of growth for NAPCO going forward."
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.
Peter Seltzberg, Regional Vice-President
Wolfe Axelrod Weinberger Assoc. LLC
(212) 370-4500; (212) 370-4505 fax
SOURCE NAPCO Security Technologies, Inc.