NAPCO's New iBridge® Interactive Remote Services Product Line Seen as "The Wave of the Future"
Products to be on Display at Electronic Security Expo 2013
Featured in Recent ESX Webinar "Reality Check"
AMITYVILLE, N.Y., May 28, 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 will be a key exhibitor at the Electronic Security Expo 2013 (ESX) in Nashville, Tennessee, from June 17th to 21st. Attendees are encouraged to drop by Booth 301 to for a demonstration of NAPCO's new iBridge product line as well as other new technology applications and products developed by NAPCO.
ESX is uniquely recognized for its peer-driven educational leadership positioning in the industry and is uniquely owned and largely attended by the two leading membership associations in security, i.e., the Central Station Alarm Association (CSAA) and Electronic Security Association (ESA). The Central Station Alarm Association includes providers, users, bureaus, and other agencies and UL-listed central station protection services, including over 1,100 individuals from its 350 member companies. ESA's member companies represent more than 70 percent of the security market, including 500,000 industry professionals, serving more than 34 million residential and commercial clients.
NAPCO recently both sponsored and was a featured panelist in an ESX Webinar reaching influential key players in the security community, entitled "Apps & Interactive Services: Reality Check." In this online seminar, NAPCO's management led discussions regarding interactive services that are proliferating throughout home security, as exemplified by its iBridge Connected Home Suite, offering remote, App-enabled security and video, plus temperature, lighting and locking control via wireless Z-wave™ technology.
Dick Soloway, Chairman and Chief Executive Officer of NAPCO commented, "iBridge represents a strategically important service offering that we believe will be key to our participation in a market that we think can proliferate from a penetration rate of 20%-25% in US households for traditional security systems as it has been for two decades, to as high as the 60% share that is held by Smart Phones and Tablets as of right now in 2013."
"These new easy-to-use systems, formerly reserved for elite high-end lifestyles are now becoming affordable to the mass market American homes. We are talking about a win-win for everyone, with better, and affordable protection and access being offered by security system dealers, who have not only seen their recurring monthly account fees double but have increased their sales close rates and upfront equipment sales while reducing subscriber attrition dramatically. This industry shift is precisely what NAPCO's new iBridge interactive services technology was created to answer and the time appears to be right on target as well. The Company is optimistic about the millions of dollars in incremental business this new category can potentially generate," concluded Soloway.
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.