AMITYVILLE, N.Y., July 17, 2017 /PRNewswire/ -- NAPCO Security Technologies (NASDAQ: NSSC), one of the world's leading solutions providers and manufacturers of high-tech electronic intrusion security, IoT connected home, video and fire systems, as well as enterprise-class access control and door locking products today announced that its Starlink Dual Path Fire Communicator is now commercially available to its dealers and integrators in the US.
The Starlink Dual Path Fire Communicator is an important addition to the Starlink Commercial Fire Alarm Communicators Series, as it will open new large metropolitan markets such as New York City and Los Angeles where local fire codes require both cellular and IP path communication of alarm signals. Starlink Fire Communicators are used in commercial applications such as hotels, office and hospital buildings. Dealers and integrators will be able to offer accounts the ability to save money by replacing the two phone lines typically required in fire alarm systems for commercial buildings, which cost thousands of dollars per year.
NAPCO's sole path Starlink Fire Alarm Series Communicator (the first version offered) has contributed to the Company's rapidly growing recurring revenue stream over the last few years. As of the fiscal quarter ended March 31, 2017 the recurring revenue line has grown by 68% year over year and has increased 67% for the first nine months of fiscal 2017. This pattern of growth has been repeated in multiple quarters over the past couple of years and the new Dual Path Series Communicator should add to the strong growth already seen.
Richard Soloway, CEO of NAPCO, commented, "We are excited to have this new addition to the Starlink Fire Communicators Series. Our first Starlink Fire Communicator has been a great success thus far and we believe that the new Dual Path Communicator will experience the same pattern of rapid growth. This is an example of our efforts to produce more products that will help grow the recurring revenue business line and profits for NAPCO. Dealers and integrators are already familiar with our Starlink Communicators and this is a great addition to that product offering."
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc. is one of the world's leading solutions providers and manufacturers of high-technology electronic security (including recurring service fee revenue), IoT connected home, video, fire alarm, access control and door locking systems. The Company consists of four Divisions: NAPCO, its security and IoT connected home segment, plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. Headquartered in Amityville, New York, its products are installed by tens of thousands of security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for innovation, technical excellence and reliability, positioning the Company for growth in the multi-billion dollar and rapidly expanding electronic security market. For additional information on NAPCO, please visit the Company's web site at http://www.napcosecurity.com.
Safe Harbor Statement
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.
Director of Investor Relations
NAPCO Security Technologies, Inc.
OP: 800-645-9445 x 374
SOURCE NAPCO Security Technologies, Inc.